CF Industries Holdings Inc., a worldwide leader in nitrogen and phosphate fertilizer manufacturing and distribution, second-quarter earnings soared on double-digit phosphate and nitrogen sales growth. CF reported a profit of $487.4 million up from $105.1 million a year earlier. The latest quarter included USD 14.2 million loss on derivatives while the prior-year results included USD 113.7 million of acquisition-related costs and a USD 15.1 million gain on derivatives. In April 2010, CF acquired Oklahoma-based Terra Industries Inc., a North American producer and marketer of nitrogen fertilizer products. Total revenue rose 38 percent to USD 1.8 billion. Phosphate sales (their main products are DAP/MAP) rose 60 percent as volume jumped 17 percent higher than in the second quarter of 2010. Average price realizations for DAP and MAP were USD 555 and USD 544 per ton, compared to USD 400 and USD 414, respectively, in the year-ago period. CF Industries was founded in 1946 as a fertilizer brokerage operation by a group of regional agricultural cooperatives, and during the year ended December 31, 2010, it sold 11.5 million tonnes of nitrogen fertilizers and 1.9 million tonnes of phosphate fertilizers. They own also facilities in Trinidad and in the U.K.
USA: CF 2Q Results
September 1, 2011 at 07:54 (Fertilizers)