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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.
CF Industries Holdings, Inc. today reported second quarter 2012 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. Second quarter results included a $77.6 million non-cash pre-tax mark-to-market gain on natural gas derivatives and $15.2 million of accelerated amortization of capitalized financing fees related to the termination of a prior credit facility. These items increased/(decreased) after-tax earnings per diluted share by $0.74 and ($0.14), respectively. Share repurchases during the quarter decreased weighted-average shares outstanding by two percent, increasing after-tax earnings per diluted share by $0.19. Second quarter 2011 results included a $14.2 million non-cash mark-to-market loss on natural gas derivatives.