CF Industries Holdings, Inc. (NYSE: CF):
Second Quarter Highlights
- Record quarterly net earnings attributable to common stockholders of $606.3 million, or $9.31 per diluted share, compared to earnings of $487.4 million, or $6.75 per diluted share, in the second quarter of 2011.
- Record quarterly earnings before interest, taxes, depreciation and amortization (EBITDA) of $1,054.4 million compared to $889.2 million in the second quarter of 2011.
- Repurchased 3.1 million shares for $500 million.
First Half Highlights
- Record net earnings attributable to common stockholders of $974.7 million, or $14.81 per diluted share, compared to earnings of $769.4 million, or $10.66 per diluted share, in the prior year period.
- Record EBITDA of $1.8 billion, compared to $1.5 billion in the prior year period.
- Record net sales of $3.3 billion, compared to $3.0 billion in the prior year period.
- Record sales volume of 7.7 million tons, including record 6.7 million tons of nitrogen products.
Capital Deployment Update
- Increased potential investment in nitrogen capital projects to approximately $2.0 billion from $1.0 - $1.5 billion.
- Approved new share repurchase plan of up to $3.0 billion through December 31, 2016.
- Announced agreement to purchase Viterra’s interests in Canadian Fertilizers Limited (CFL) for C$915 million.
- High 2013 corn planting expectations, strong global demand, tight domestic nitrogen supply and favorable natural gas costs provide a positive operating environment for the remainder of 2012 and into 2013.