CF Industries Holdings, Inc. Reports Fourth Quarter Earnings

DEERFIELD, Ill.--(BUSINESS WIRE)-- CF Industries Holdings, Inc. (NYSE: CF), the global leader in nitrogen fertilizer manufacturing and distribution, today announced results for its fourth quarter and full year ended December 31, 2016.

2016 Fourth Quarter Earnings Release

Fourth Quarter Highlights

• Net loss of $320 million, or $1.38 per diluted share; adjusted net loss(1) of $90 million, or $0.39 per diluted share(1)
• EBITDA(2) loss of $135 million; adjusted EBITDA(2) of $133 million
• New ammonia and urea plants at Port Neal Nitrogen Complex in operation
• Refinanced private placement notes
• Shipments of UAN in fourth quarter exceeded two million tons, a company record
• Record fourth quarter exports above 500,000 tons
• Net loss includes $134 million non-cash impairment charge related to Point Lisas Nitrogen Limited (PLNL)

Full Year Highlights

• Net loss of $277 million, or $1.19 per diluted share; adjusted net earnings(1) of $109 million or $0.47 per diluted share(1)
• EBITDA(2) of $395 million; adjusted EBITDA(2) of $858 million
• Accelerated tax depreciation on capacity expansion projects driving estimated federal and state tax refunds of approximately $800 million, expect to receive in third quarter 2017
• Record exports of approximately 1.4 million tons in 2016, 110 percent increase over prior year