CF Posts Huge Profit Gain, Announces Billion-Dollar Investment Plan

CF Industries reported a more than four-fold increase in second-quarter net earnings, to $487.4 million, on sales up 38%, to $1.8 billion. The company cites higher selling prices. Volumes actually fell 2%, to 4.3 million m.t. As a result of the strong gains CF says it will increase its dividend, launch a share repurchase program, and invest in various organic growth initiatives. In its nitrogen segment, sales rose 34%, to $1.5 billion, although volumes fell 4%. In phosphate, sales rose 60%, to $297 million, and volumes were up 17%. “The outlook for North...

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