Stock Monitor: Intrepid Potash Post Earnings Reporting
LONDON, UK / ACCESSWIRE / March 23, 2018 / Active-Investors.com has just released a free earnings report on CF Industries Holdings, Inc. (NYSE: CF) ("CF Industries"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=CF. The Company reported its fourth quarter fiscal 2017 and the full fiscal year 2017 operating and financial results on February 14, 2018. The fertilizer maker's adjusted net loss narrowed on a y-o-y basis, as it reported better than expected results. Register today and get access to over 1000 Free Research Reports by joining our site below:
Active-Investors.com is currently working on the research report for Intrepid Potash, Inc. (NYSE: IPI), which also belongs to the Basic Materials sector as the Company CF Industries Holdings. Do not miss out and become a member today for free to access this upcoming report at:
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, CF Industries Holdings most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Earnings Highlights and Summary
CF Industries' net sales increased 27% to $1.10 billion in Q4 2017 from $867 million in Q4 2016, driven by higher sales volumes across most segments and higher average selling prices across all segments. The Company's revenue results beat analysts' estimates of $977.91 million.
For the full year FY17, CF Industries reported net sales of $4.13 billion, up 12% compared to $3.69 billion in FY16.
During Q4 2017, CF Industries reported net earnings of $465 million, or $1.98 per diluted share, compared to a net loss of $320 million, or $1.38 loss per diluted share, Q4 2016. The Company's reported quarter results included a net income tax benefit of $491 million, or $2.09 per diluted share, as a result of the US Tax Cuts and Jobs Act 2017 (TCJA).
On an adjusted basis, CF Industries reported a net loss of $3 million, or $0.02 loss per diluted share, in Q4 2017 compared to an adjusted net loss of $90 million, or $0.39 loss per diluted share, in Q4 2016. Meanwhile, analysts were expecting the Company to report a loss of $0.08 per share.
For FY17, CF Industries' net earnings were $358 million, or $1.53 per diluted share, and included a net income tax benefit of $491 million, or $2.10 per diluted share, as a result of the TCJA. The Company had reported a net loss of $277 million, or $1.19 loss per share, in FY16. On an adjusted basis, CF Industries reported a net loss of $59 million, or $0.25 loss per diluted share, in FY17 compared to adjusted earnings of $109 million, or $0.47 per share, in FY16.
CF Industries' total sales volumes were approximately 5.3 million tons in Q4 2017, significantly higher on a y-o-y basis and 5% above the Company's previous quarterly record, as production increased at its Donaldsonville and Port Neal Nitrogen Complexes. The Company's gross ammonia production was more than 2.6 million tons in Q4 2017, the second highest volume for a quarter in the Company's history.
During Q4 2017, CF Industries' average selling prices were higher on a y-o-y basis across all segments, due largely to a tighter global nitrogen supply and demand balance. The Company's average selling price for ammonia was $285 per ton in the reported quarter compared to $277 per ton in the prior year's same quarter. CF Industries' average selling price for urea was $244 per ton in Q4 2017 compared to $214 per ton in Q4 2016, and its average selling price for UAN was $150 per ton in the reported quarter versus $149 per ton in the year-ago comparable period.
For Q4 2017, CF Industries' cost of sales per ton increased 10% to $180.92 per ton on a y-o-y basis, primarily driven by an increased gas consumption to support the higher production and sales volumes. In Q4 2017, the average cost of natural gas was reflected in the Company's cost of sales, which was $3.24 per Metric Million British Thermal Units (MMBtu) compared to the average cost of natural gas in the cost of sales of $3.24 per MMBtu in Q4 2016. In the reported quarter, the average price of natural gas at Henry Hub in North America was $2.87 per MMBtu, and the average price of natural gas at the National Balancing Point in the United Kingdom was $6.92 per MMBtu.
As of December 31, 2017, CF Industries' 12-month rolling average recordable incident rate was 0.67 incidents per 200,000 work hours, well below industry averages.
As of December 31, 2017, CF Industries had cash and cash equivalents of $835 million; had no borrowings outstanding under its $750 million revolving credit facility; and was in compliance with all applicable covenant requirements under its debt instruments.
CF Industries' capital expenditure totaled $473 million in FY17. Of this amount, approximately $350 million was for new activities in 2017, and the remainder was for activities performed in FY16 but paid for in FY17. The Company's capital expenditure for new activities in FY18 is estimated to be in the range of approximately $400 million to $450 million.
Stock Performance Snapshot
March 22, 2018 - At Thursday's closing bell, CF Industries Holdings' stock dropped 3.60%, ending the trading session at $37.27.
Volume traded for the day: 2.15 million shares.
Stock performance in the previous six-month period – up 5.91%; and past twelve-month period – up 27.51%
After yesterday's close, CF Industries Holdings' market cap was at $8.84 billion.
Price to Earnings (P/E) ratio was at 10.38.
The stock has a dividend yield of 3.22%.
The stock is part of the Basic Materials sector, categorized under the Agricultural Chemicals industry.
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