CF Industries Holdings Inc. posted first-quarter net earnings to common stockholders of $90 million on sales of $1 billion, up from the year-ago $63 million and $957 million, respectively. Volumes were off at 4.09 million st from 4.3 million st.
Compass Minerals reported first-quarter North American fertilizer volumes down 34 percent and those for South America 15 percent, with both segments reporting operational losses. Salt on the other hand put in a better-than-expected performance, helping to keep company-wide net earnings in the plus column at $7.6 million down from the year-ago $12.6 million.
Despite improving operational rates, a 24 percent drop in first-quarter fertilizer sales volumes weighed on LSB Industries Inc.’s results. The company posted a net loss of $11.5 million, up from the year-ago $5.6 million.
The MMTC tender closed May 1. As expected, offered prices were higher. The lowest offered price for the West Coast came from Koch at $279.70/my CFR and for the East Coast from Samsung at $285.70/mt CFR. These prices compare to $251/mt CFR and $262/mt CFR respectively.
