CF Industries reports higher earnings on low natural gas prices, high nitrogen demand

CF Industries posted net income of $403.3 million, 22% higher than the same 2011 quarter. Diluted earnings of $6.35/share beat analyst estimates of $5.70/share, according to Thomson Reuters (New York). However, sales were down 3% year-on-year, to $1.36 billion because of lower total nitrogen volume and phosphate product prices, which were partially offset by higher phosphate volumes—with total sales volumes dropping due to lower urea sales. Fertilizer markets had strong demand in North America in anticipation of high levels of crop plantings expected for...

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