CF Industries Holdings Inc. on Nov. 1 reported record third quarter 2011 net earnings attributable to common stockholders of $330.9 million, or $4.73 per diluted share, compared to $48.2 million, or $0.67 per diluted share, in the third quarter of 2010. EBITDA was a third quarter record of $640.8 million, compared to $216.0 million in the third quarter of 2010.
Net sales in the third quarter of 2011 were a record $1.4 billion, up 53 percent from $917.1 million in the same period last year due primarily to higher product prices. Total sales volume was 3.5 million tons in the third quarter of 2011, compared to 3.4 million tons in the third quarter of 2010.
"We believe CF Industries’ third quarter performance reflects the underlying strength of our business model and good execution," said Stephen Wilson, CF chairman and CEO. "We generated 45 percent gross margin and outstanding earnings during our seasonally weakest quarter. These earnings, combined with strong order volume and customer deposits for future periods, allowed us to achieve quarterly operating cash flow of $1 billion for the first time in company history."
For more details, see the Green Markets Web-edition Nov. 4.