CF Industries Holdings Inc., Deerfield, Ill., reported second-quarter net earnings attributable to common stockholders of $148 million ($0.63 per diluted share) on net sales of $1.3 billion, up from the year-ago $3 million ($0.01 per share) and $1.12 billion, respectively. Adjusted EBITDA was $468 million, up from $303 million.
“Our unmatched logistics capability allowed us to fully capitalize on the weather-delayed application season once it finally appeared in the second quarter, enabling us to ship a record 5.5 million product tons,” said Tony Will, CF president and CEO. He said the story of first-half 2018 was lower North American gas costs and higher nitrogen prices.
CF also reported plans to repurchase $500 million in stock through June 30, 2020 and reaffirmed plans to repay the remaining $500 million in public senior notes on or before the May 2020 maturity.