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Regions :: North America
Low volumes cut CF Industries' first quarter sales
3:15 PM MDT | May 8, 2013 | Lindsay Frost
CF Industries today reported stronger earnings on high fertilizer demand, although low volumes in certain segments contributed to a drop in sales. Net earnings for the quarter were $406.5 million, up 10% year-over-year (YOY) and include pre-tax unrealized gains on natural gas derivatives, pre-tax losses on foreign currency derivatives, and an after-tax net benefit from loss prior to the company’s IPO, the company says. Earnings per share of $6.47/share were above analyst estimates of $6.02/share, according to Thomson Reuters (New York). Sales fell 13%...
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