CF Industries Holdings, Inc. Reports First Half 2021 Net Earnings of $397 Million, EBITDA of $994 Million, Adjusted EBITDA of $997 Million

CF Industries Holdings, Inc. (NYSE: CF), a leading global manufacturer of hydrogen and nitrogen products, today announced results for its first half and second quarter ended June 30, 2021.

Highlights

• First half net earnings of $397 million⁽¹⁾, or $1.83 per diluted share; EBITDA⁽²⁾ of $994 million; adjusted EBITDA⁽²⁾ of $997 million
• Second quarter net earnings of $246 million⁽¹⁾, or $1.14 per diluted share; EBITDA of $596 million; adjusted EBITDA of $599 million
• Trailing twelve month net cash from operating activities of $1.22 billion, free cash flow⁽³⁾ of $698 million
• Company to redeem $250 million in debt on September 10, 2021
• Mitsui & Co., Inc., one of the leading ammonia marketers in the world, and CF Industries, the world’s largest producer of ammonia, have agreed to jointly explore development of blue ammonia projects in the United States
• Company requested the initiation of antidumping and countervailing duty investigations on imports of UAN from Russia and Trinidad and Tobago (Trinidad) due to the harm the domestic UAN industry has experienced from dumped and unfairly subsidized UAN imports from Russia and Trinidad

“The CF team performed well in the first half of 2021 as strong global nitrogen demand and favorable energy spreads enabled us to generate approximately $1 billion in adjusted EBITDA, nearly 25 percent higher than the first half of 2020,” said Tony Will, president and chief executive officer, CF Industries Holdings, Inc. “These dynamics continue to support global nitrogen prices at levels far above those of a year ago, positioning CF Industries well for the second half of 2021. Looking ahead, we expect positive global nitrogen industry conditions to persist into 2023, underpinned by the need to replenish global grains stocks.”

For the full first half 2021 earnings release, click here.