Stock Monitor: China Green Agriculture Post Earnings Reporting
LONDON, UK / ACCESSWIRE / December 12, 2017 / Active-Investors free earnings report on CF Industries Holdings, Inc. (NYSE: CF) has freshly been issued to its members, and you can also sign up to view this report at www.active-investors.com/registration-sg/?symbol=CF. The Company posted its financial results on November 01, 2017, for the third quarter of the fiscal year 2017. The manufacturer and distributor of agricultural fertilizers' revenue and adjusted EPS surpassed analysts' expectations. Register today and get free access to our complimentary member's area where many more reports are available:
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Earnings Highlights and Summary
For the three months ended September 30, 2017, CF Industries' net revenue increased 27.9% to $870 million from $680 million in Q3 FY16. The Company's net revenue numbers surpassed analysts' expectations of $723 million.
For the reported quarter, the Company's sales volume by product increased 33% to 4.88 million tons from 3.67 million tons in Q3 FY16.
During Q3 FY17, CF Industries' gross income increased 450% to $9 million from $2 million in the same period of last year. For the reported quarter, the Company's gross margin increased 70 basis points to 1% of revenue from 0.3% of revenue in the third quarter of last year.
For the reported quarter, the Company's earnings before interest, tax, depreciation, and amortization (EBITDA) was positive $139 million compared to negative $6 million in Q3 FY16. For the reported quarter, the Company's adjusted EBITDA increased 61.4% to $134 million from $83 million in the third quarter of 2016.
During Q3 FY17, CF Industries' operating loss was $39 million versus an operating loss of $101 million in the comparable period of last year.
For the reported quarter, CF Industries' net loss was $87 million compared to a net loss of $30 million in Q3 FY16. During Q3 FY17, the Company's diluted earnings per share (EPS) was negative $0.37 compared to negative $0.13 in the corresponding period of last year. For the reported quarter, CF Industries' adjusted net loss was $90 million compared to an adjusted net income of $30 million in Q3 FY16. During Q3 FY17, the Company's adjusted diluted EPS was negative $0.39 compared to positive $0.13 in Q3 FY16, surpassing analysts' expectations of $0.55.
Ammonia - During Q3 FY17, the Company's Ammonia segment's net revenue increased 33.8% to $194 million from $145 million in the same period of last year. For the reported quarter, the segment's adjusted gross margin decreased 280 basis points to 12.4% of revenue from 15.2% of revenue in Q3 FY16. For the reported quarter, the segment's sales volume by product increased 63.6% to 826,000 tons from 505,000 tons in the third quarter of 2016, due to additional production volumes from the new capacity expansions at Donaldsonville and Port Neal complexes.
Granular Urea - During Q3 FY17, the Company's Granular Urea segment's net revenue increased 36.5% to $228 million from $167 million in the comparable period of last year. For the reported quarter, the segment's adjusted gross margin increased 510 basis points to 32% of revenue from 26.9% of revenue in Q3 FY16. For the reported quarter, the segment's sales volume by product increased 42.2% to 1.17 million tons from 823,000 tons in the third quarter of 2016, due to additional volume available from the new urea capacity at the Port Neal nitrogen complex.
Urea Ammonium Nitrate Solution (UAN) - During Q3 FY17, the Company's UAN segment's net revenue increased 14.6% to $243 million from $212 million in the corresponding period of last year. For the reported quarter, the segment's gross margin decreased 350 basis points to 24.3% of revenue from 27.8% of revenue in Q3 FY16. For the reported quarter, the segment's sales volume by product increased 25.4% to 1.69 million tons from 1.35 million tons in the third quarter of 2016, due to higher customer participation in the Company's summer UAN fill program compared to Q3 FY16.
Ammonium Nitrate (AN) - During Q3 FY17, the Company's AN segment's net revenue increased 31.1% to $135 million from $103 million in the same period of last year. For the reported quarter, the segment's adjusted gross margin increased 1500 basis points to 26.7% of revenue from 11.7% of revenue in Q3 FY16. For the reported quarter, the segment's sales volume by product increased 11.9% to 670,000 tons from 599,000 tons in the third quarter of 2016.
Other - During Q3 FY17, the Company's Other segment's net revenue increased 32.1% to $70 million from $53 million in the comparable period of last year. For the reported quarter, the segment's adjusted gross margin decreased 530 basis points to 34.3% of revenue from 39.6% of revenue in Q3 FY16. For the reported quarter, the segment's sales volume by product increased 33.2% to 518,000 tons from 389,000 tons in the third quarter of 2016.
As on September 30, 2017, CF Industries' cash and cash equivalents increased 71.1% to $1.99 billion from $1.16 billion as on December 31, 2016. For the reported quarter, the Company's long-term debt decreased 13.7% to $4.99 billion from $5.78 billion in Q4 FY16.
For the reported quarter, CF Industries' cash provided by operating activities increased 47.6% to $214 million from $145 million in Q3 FY16.
Stock Performance Snapshot
December 11, 2017 - At Monday's closing bell, CF Industries Holdings' stock slightly rose 0.36%, ending the trading session at $39.40.
Volume traded for the day: 2.31 million shares.
Stock performance in the last month – up 6.09%; previous three-month period – up 22.40%; past twelve-month period – up 27.30%; and year-to-date – up 25.16%
After yesterday's close, CF Industries Holdings' market cap was at $9.19 billion.
The stock has a dividend yield of 3.05%.
The stock is part of the Basic Materials sector, categorized under the Agricultural Chemicals industry. This sector was up 0.8% at the end of the session.
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