CF Industries Earnings More Than Double, But Fall Short of Estimates

CF Industries fourth-quarter 2011 earnings rose 219%, to $438.9 million, or $6.66/share, on sales up 39%, to $1.7 billion. Earnings fell short of analysts’ consensus of $6.83/share, as reported by Thomson One (New York). Higher selling prices and margins accounted for the increase, as volumes fell, CF says. The fertilizer market “experienced normal seasonal demand softness in November and December,” which was exacerbated by economic uncertainty and the euro crisis, the company adds.   “Our selling discipline and focus on maximizing...

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