Third-quarter results for CF Industries Holdings Inc., The Mosaic Co., and Nutrien Ltd. are expected to significantly exceed year-ago levels, according to the Bloomberg Consensus, an average of estimates from major analysts. CF and Nutrien are expected to more than double year-ago adjusted EBITDA, and Mosaic is expected to come close.
Analysts project that CF will have third-quarter adjusted EBITDA of $1.16 billion, up from the year-ago $488 million. Net income is put at $686.4 million on revenues of $2.4 billion, up from the year-ago loss of $185 million and $1.36 billion, respectively. The year-ago loss included CF’s taking of an impairment on UK assets.
Mosaic is projected to have third-quarter adjusted EBITDA of $1.88 billion, up from the year-ago $969 million. Net income is estimated to be $1.19 billion on revenues of $5.76 billion, up from the year-ago $371.9 million and $3.42 billion, respectively.
Analysts estimate Nutrien will have adjusted EBITDA of $3.58 billion, up from the year-ago $1.64 billion. Net income is expected to be $2.15 billion on revenues of $8.88 billion, up from the year-ago $726 million and $6.0 billion, respectively.
Nutrien is expected to release earnings results after markets close on Nov. 2, CF on Nov. 3, and Mosaic on Nov. 7.
| 3Q-22 Estimate | 3Q-21 Actual | |
| CF | ||
| Revenue | 2.4 B | 1.36 B |
| Net Income | 686.4 M | (185 M) |
| Adj. EBITDA | 1.16 B | 488 M |
| Mosaic | ||
| Revenue | 5.76 B | 3.42 B |
| Net Income | 1.19 B | 371.9 M |
| Adj. EBITDA | 1.88 B | 969 M |
| Nutrien | ||
| Revenue | 8.88 B | 6.0 B |
| Net Income | 2.15 B | 726 M |
| Adj. EBITDA | 3.58 B | 1.64 B |