CF Industries Reports Third Quarter 2016 Results

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

2016 Third Quarter Earnings Release

Third Quarter Highlights

• Net loss of $30 million, or $(0.13) per diluted share; adjusted net earnings of $30 million, or $0.13 per diluted share
  
• EBITDA loss of $6 million; adjusted EBITDA of $83 million
• New Donaldsonville, LA, ammonia plant started in September and is now operating at nameplate capacity, marking the completion of Donaldsonville capacity expansions
• New Port Neal, IA, plants are in process of starting up
  • Ammonia plant: gas introduced into new ammonia plant, production is expected soon
  • Urea plant to be commissioned in parallel with ammonia plant. Granulation unit was successfully tested in September 2016
• Accelerated depreciation on capacity expansion projects driving an estimated tax refund of approximately $800 million of cash in 2017 from carrybacks of current year tax losses to prior tax years; amount to be received in 2017 is dependent in part on the timing of the completion of the expansion project at Port Neal