Citing lower prices, CF Industries Holding Inc. reported a 31 percent drop in net earnings attributable to common shareholders for the fourth quarter ending Dec. 31, 2013, compared to the year-ago quarter. While the Nitrogen segment saw only a 5 percent drop in margins, Phosphates, which is being sold to The Mosaic Co., recorded a 95 percent drop.
Fourth-quarter earnings were $325.8 million ($5.71 per diluted share) on sale of $1.33 billion compared to the year-ago $470.7 million ($7.40 per share) and sales of $1.48 billion.
Full-year earnings were off 21 percent to $1.46 billion ($24.74 per share) on sales of $5.47 billion compared to 2012’s $1.85 billion ($28.59 per share) and $6.1 billion, respectively.