CF Industries Reports Second Quarter 2016 Results

CF Industries Holdings, Inc. (NYSE: CF), the global leader in nitrogen fertilizer manufacturing and distribution, today announced results for its second quarter ended June 30, 2016.

2016 Second Quarter Earnings Release

Second Quarter Highlights

• Net earnings of $47 million, or $0.20 per diluted share; adjusted net earnings of $77 million, or $0.33 per diluted share
  
• EBITDA of $329 million; adjusted EBITDA of $342 million
• Accelerated depreciation on capital additions driving a tax refund of approximately $690 million in 2017 from carrybacks of current year tax losses to prior tax years, which is based on the timing of the completion of certain capital projects
• New Donaldsonville, LA, ammonia plant expected to begin production during the third quarter of 2016
• New Port Neal, IA, ammonia plant is mechanically complete
  • Offsites and utilities are complete and operational
  • Ammonia production is expected to begin late in the third quarter, or beginning of the fourth quarter of 2016, with the urea plant to follow closely thereafter
• Record UAN production in the quarter of 1.8 million tons
• Ammonia production was 99 percent of stated capacity