Late-Reporting Firms Post Mostly Strong Profit Growth

Companies reporting earnings in the last two weeks posted mostly strong profit gains due in part to higher selling prices. CF Industries reported a more than four-fold increase in second-quarter net earnings, to $487.4 million, on sales up 38%, to $1.8 billion. The company cites higher selling prices. Volumes fell 2%, to 4.3 million m.t. In its nitrogen segment, sales rose 34%, to $1.5 billion, although volumes fell 4%. In phosphate, sales rose 60%, to $297 million, and volumes were up 17%. Meanwhile, CF’s board of directors has approved a quadrupling of...

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