CF Industries reports higher earnings on increased ammonia volumes

Record ammonia shipments in the fourth quarter contributed to CF Industries’ increase in net earnings—up 7%, to $470.7 million year-on-year (YOY). Results include $13.1 million of non-cash pre-tax mark-to-market gains on natural gas and foreign currency derivatives, which increased after-tax earnings per diluted share by 13 cts, the company says. Earnings per share of $7.40/share were higher than analyst consensus of $6.97/share, according to Thomson Reuters (New York). Net sales for the quarter were $1.5 billion, down 14% YOY due to lower average...

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