CF Industries Holdings Inc., Deerfield, Ill., reported a third-quarter net loss of $28 million, a drop from the year-ago net income of $65 million. Prices were down during the quarter for all major product categories. Ammonia sales volumes were up, with slight declines for urea, UAN and ammonium nitrate.
Compass Minerals, Overland Park, Kan., posted a third-quarter loss of $2.1 million compared to year-ago net income of $10.6 million. The company said the decline resulted from lower year-over-year earnings in the company’s plant nutrition businesses due to lower-than-expected sales volumes driven by dry weather conditions and the impact of extreme wildfires in several of the company’s key agriculture markets. It also had a $7.4 million inventory adjustment negatively impacting its Plant Nutrition North America segment.
Germany’s K+S Group sees a one-time, non-cash impairment loss on assets in the Europe+ operating unit of about EU2 billion, according to Bloomberg, citing a company statement. The company has adjusted its long-term assumptions against the background of the realignment of the company and the sale of the Americas operating unit. This mainly concerns the long-term potash price assumption as well as a higher cost of capital rate. The assumption regarding the long-term potash price trend is now lower than previously assumed. The special impairment will be made for the third quarter.
