CF Industries Reports Q3 2026 Financial Results and Furnishes Investor Presentation

Overview of Filing

On November 4, 2026, CF Industries Holdings, Inc. filed a Current Report on Form 8-K under Item 2.02 (Results of Operations and Financial Condition) and Item 9.01 (Financial Statements and Exhibits). The filing furnishes an investor presentation (Exhibit 99.1) detailing the company's financial and operational performance for the third quarter and first nine months ended September 30, 2026.

Key Financial Highlights (Q3 2026 vs. Q3 2025)

• Net Sales: Increased 12.1% to $1,860 million, up from $1,659 million in Q3 2025.
• Gross Margin: Stood at $720 million (38.7% of sales) compared to $632 million (38.1% of sales) in the prior-year period.
• Net Earnings Attributable to Common Stockholders: Rose to $436 million ($2.87 per diluted share), compared to $353 million ($2.19 per diluted share) in Q3 2025.
• EBITDA & Adjusted EBITDA:
  • Q3 2026 EBITDA was $822 million, up from $671 million in Q3 2025.
  • Q3 2026 Adjusted EBITDA reached $833 million, up from $667 million in Q3 2025, driven by higher realized pricing, volume growth, and lower natural gas costs.
• Nine-Month (9M 2026) Results: Net sales of $6,068 million and net earnings attributable to common stockholders of $1,778 million ($11.60 per diluted share), compared to $5,212 million and $1,051 million ($6.39 per diluted share) for 9M 2025.

Operational & Strategic Highlights

• Capacity Utilization: Available ammonia capacity utilization stood at 97% for the first nine months of 2026, outperforming North American peer average capacity utilization by approximately 10% over a 5-year rolling period.
• Blue Point Complex: Construction has commenced on the low-carbon ammonia production facility (total project cost estimated at ~$3.7 billion), with production targeted to begin in 2029.
• Yazoo City Complex: Rebuild operations remain on track with an expected restart in the first half of 2027.
• Cash Flow & Capital Allocation:
  • LTM operating cash flow was $3.1 billion with free cash flow of $2.0 billion.
  • Over the last twelve months, $1.3 billion of capital was returned to shareholders via share repurchases and dividends.
  • As of September 30, 2026, $1.1 billion remained under the active $2.0 billion share repurchase authorization running through 2029.