CF Industries said Q2 2024 net sales fell $203 million, or 11%, to $1.57 billion. The company said its average selling price dropped 10% to $359 per ton from $322 per ton, and that total sales volume was about 4.9 million product tons in both periods.

10-QQuarterly reportFiled Aug 8, 2024Period of report Jun 30, 2024Summary published (UTC) Oct 23, 2026

Key points

AI summary

CF Industries said Q2 2024 net sales fell $203 million, or 11%, to $1.57 billion. The company said its average selling price dropped 10% to $359 per ton from $322 per ton, and that total sales volume was about 4.9 million product tons in both periods.
The company said diluted net earnings per share attributable to common stockholders fell $0.40, or 15%, to $2.30 per share in Q2 2024 from $2.70 per share a year earlier. It said its cost of natural gas, including the impact of realized derivatives, decreased 31% to $1.90 per MMBtu from $2.75 per MMBtu.
The company said net cash provided by operating activities for the first six months of 2024 was $920 million, down $739 million from the prior-year period. It paid $644 million for share repurchases and $188 million in common stock dividends over the same period.
The company said the purchase price adjustment for the Waggaman ammonia facility it acquired on December 1, 2023 was finalized in Q2 2024, reducing the price by $2 million, and that the final purchase price was $1.221 billion.

Key figures

Quarter ended June 30, 2024

Revenue: $1.6B
Operating income: $638M
Net income: $506M
EPS: $2.30
Gross profit: $679M

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Q2 net sales down 11%

CF Industries said Q2 2024 net sales fell $203 million, or 11%, to $1.57 billion. The company said its average selling price dropped 10% to $359 per ton from $322 per ton, and that total sales volume was about 4.9 million product tons in both periods.

Source · Based on the MD&A text of the filing

Q2 diluted EPS and natural gas costs

The company said diluted net earnings per share attributable to common stockholders fell $0.40, or 15%, to $2.30 per share in Q2 2024 from $2.70 per share a year earlier. It said its cost of natural gas, including the impact of realized derivatives, decreased 31% to $1.90 per MMBtu from $2.75 per MMBtu.

Source · Based on the MD&A text of the filing

First-half operating cash flow and shareholder returns

The company said net cash provided by operating activities for the first six months of 2024 was $920 million, down $739 million from the prior-year period. It paid $644 million for share repurchases and $188 million in common stock dividends over the same period.

Source · Based on the MD&A text of the filing

Waggaman ammonia facility purchase price finalized

The company said the purchase price adjustment for the Waggaman ammonia facility it acquired on December 1, 2023 was finalized in Q2 2024, reducing the price by $2 million, and that the final purchase price was $1.221 billion.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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