Markets :: Basic Chemicals :: Inorganic Chemicals :: Fertilizers
Pricing Improvement Pushes CF Industries to Record Third-Quarter Earnings
2:43 PM MDT | November 1, 2011 | Lindsey Bewley
CF Industries reported third-quarter net income of $330.9 million ($4.73/share) up 586% from the year-ago quarter, falling short of analysts’ estimates of $4.79/share, as reported by Thomson Reuters. Sales were up 53%, to $1.4 billion, due to higher product prices. Third quarter results included a $35.1 million impairment charge due to the permanent shutdown and removal of the methanol plant at the company’s Woodward, Oklahoma, nitrogen complex and a $14.1 million non-cash mark-to-market loss on natural gas derivatives, which reduced after-tax...
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