CF Industries Holdings, Inc. (CF) Form 8-K — Nov 4, 2026
CF Industries reported strong Q3 2026 results with net sales of $1.86B (up from $1.66B a year ago) and net earnings attributable to common stockholders of $436M, or $2.87 per diluted share, versus $353M and $2.19 in Q3 2025. Adjusted EBITDA rose to $833M from $667M on higher prices, strong volumes and lower realized natural gas costs. Cash generation remains robust: trailing-twelve-month free cash flow was $2.0B with a 53% conversion of adjusted EBITDA (61% excluding $306M of Canada tax deposits), and the company returned $1.3B to shareholders over the period, leaving $1.1B under its $2B buyback authorization through 2029.
Key figures
- Eps
- 2.87
- Revenue
- 1860000000
- Guidance
- 2026 outlook: ~$950M CF-funded capex (~$400M related to Blue Point), ~9.5M tons gross ammonia production, $2.9B current mid-cycle EBITDA, ~$3.3B expected 2030 mid-cycle EBITDA; Blue Point ammonia production expected to commence 2029
- Net Income
- 436000000
- Revenue Yoy
- Q3 2026 net sales $1,860M vs $1,659M Q3 2025 (~12% growth)
- Cash Position
- 2820000000
- Market cap m
- 17130
- Nine month eps
- 11.6
- Q3 2025 diluted eps
- 2.19
- Q3 2025 net sales m
- 1659
- Q3 2026 diluted eps
- 2.87
- Q3 2026 net sales m
- 1860
- Nine month eps prior
- 6.39
- Q3 adjusted ebitda m
- 833
- Q3 ltm fcf yield pct
- 11.8
- Q3 ltm net earnings m
- 2200
- Share price period end
- 115.2
- Q3 ltm free cash flow m
- 2025
- Q3 ltm adjusted ebitda m
- 3829
- Recordable incident rate
- 0.1
- Share count end period m
- 148.7
- Blue point project cost b
- 3.7
- Q3 ltm capital returned m
- 1300
- Q3 ltm fcf conversion pct
- 53
- Ammonia capacity utilization 9m pct
- 97
- Realized natural gas cost per mmbtu q3
- 2.88
- Share repurchase authorization remaining m
- 1100
AI analysis
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