CF Industries Q3 2024 Update
Ticker: CF · Form: 10-Q · Filed: 2024-10-31T00:00:00.000Z
Sentiment: neutral
Topics: 10-Q, earnings, financials
TL;DR
CF Industries Q3 2024 results are in. Check the filing for details.
AI Summary
CF Industries Holdings, Inc. reported its third quarter results for the period ending September 30, 2024. The company's filing details financial performance and operational data for the nine months and three months ended on that date, compared to the prior year periods. Specific financial figures and operational metrics are presented within the report.
Why It Matters
This filing provides investors with the latest financial and operational performance of CF Industries, a key player in the agriculture and industrial chemicals sector.
Risk Assessment
Risk Level: low — The filing is a standard quarterly report and does not indicate any immediate or unusual risks.
Key Numbers
- 2024-09-30 — Reporting Period End (Indicates the end of the fiscal quarter for which results are reported.)
- 2024-10-31 — Filing Date (The date the report was officially submitted to the SEC.)
- 2024-07-01 — Q3 2024 Start Date (Marks the beginning of the third fiscal quarter of 2024.)
Key Players & Entities
- CF Industries Holdings, Inc. (company) — Filer
- 2024-09-30 (date) — Reporting period end date
- 2024-10-31 (date) — Filing date
- 2024-07-01 (date) — Start of Q3 2024
- 2023-09-30 (date) — Prior year Q3 end date
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is the quarter ended September 30, 2024.
When was this 10-Q filing submitted to the SEC?
This 10-Q filing was submitted to the SEC on October 31, 2024.
What is the company's name and Central Index Key (CIK)?
The company is CF Industries Holdings, Inc. with a Central Index Key of 0001324404.
What is the fiscal year end for CF Industries Holdings, Inc.?
The fiscal year end for CF Industries Holdings, Inc. is December 31.
What SIC code is associated with CF Industries Holdings, Inc.?
The Standard Industrial Classification (SIC) code associated with CF Industries Holdings, Inc. is 2870, which falls under AGRICULTURE CHEMICALS.
Filing Stats: 4,914 words · 20 min read · ~16 pages · Grade level 14.1 · Accepted 2024-10-31 13:28:09
Key Financial Figures
- $0.01 — ich registered common stock, par value $0.01 per share CF New York Stock Exchange
Filing Documents
- cf-20240930.htm (10-Q) — 2119KB
- cf-09302024xex101.htm (EX-10.1) — 18KB
- cf-09302024xex311.htm (EX-31.1) — 11KB
- cf-09302024xex312.htm (EX-31.2) — 10KB
- cf-09302024xex321.htm (EX-32.1) — 6KB
- cf-09302024xex322.htm (EX-32.2) — 6KB
- 0001324404-24-000026.txt ( ) — 8416KB
- cf-20240930.xsd (EX-101.SCH) — 45KB
- cf-20240930_cal.xml (EX-101.CAL) — 63KB
- cf-20240930_def.xml (EX-101.DEF) — 196KB
- cf-20240930_lab.xml (EX-101.LAB) — 598KB
- cf-20240930_pre.xml (EX-101.PRE) — 406KB
- cf-20240930_htm.xml (XML) — 1308KB
Financial Statements (unaudited)
Financial Statements (unaudited) Consolidated Statements of Operations 1 Consolidated Statements of Comprehensive Income 2 Consolidated Balance Sheets 3 Consolidated Statements of Equity 4 Consolidated Statements of Cash Flows 6 Notes to Unaudited Consolidated Financial Statements 7 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 21 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 47 Item 4.
Controls and Procedures
Controls and Procedures 48 PART II. Other Information Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 48 Item 5. Other Information 48 Item 6. Exhibits 48 Table of Contents CF INDUSTRIES HOLDINGS, INC.
—FINANCIAL INFORMATION
PART I—FINANCIAL INFORMATION
FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS. CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 (in millions, except per share amounts) Net sales $ 1,370 $ 1,273 $ 4,412 $ 5,060 Cost of sales 926 896 2,880 3,016 Gross margin 444 377 1,532 2,044 Selling, general and administrative expenses 78 68 242 213 U.K. operations restructuring — 5 — 7 Acquisition and integration costs — 11 4 27 Other operating—net 4 13 ( 18 ) ( 19 ) Total other operating costs and expenses 82 97 228 228 Equity in earnings (losses) of operating affiliate 2 ( 36 ) 1 ( 12 ) Operating earnings 364 244 1,305 1,804 Interest expense — 39 74 115 Interest income ( 32 ) ( 45 ) ( 90 ) ( 115 ) Other non-operating—net ( 4 ) ( 3 ) ( 8 ) ( 8 ) Earnings before income taxes 400 253 1,329 1,812 Income tax provision 59 23 244 326 Net earnings 341 230 1,085 1,486 Less: Net earnings attributable to noncontrolling interest 65 66 195 235 Net earnings attributable to common stockholders $ 276 $ 164 $ 890 $ 1,251 Net earnings per share attributable to common stockholders: Basic $ 1.55 $ 0.85 $ 4.87 $ 6.44 Diluted $ 1.55 $ 0.85 $ 4.86 $ 6.42 Weighted-average common shares outstanding: Basic 178.4 192.4 182.9 194.4 Diluted 178.6 192.9 183.1 194.9 Dividends declared per common share $ 0.50 $ 0.40 $ 1.50 $ 1.20 See accompanying Notes to Unaudited Consolidated Financial Statements. 1 Table of Contents CF INDUSTRIES HOLDINGS, INC. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 (in millions) Net earnings $ 341 $ 230 $ 1,085 $ 1,486 Other comprehensive income (loss): Foreign currency translation adjustment—net of taxes 27 ( 27 ) 5 3 Defined benefit plans—net of taxes ( 4 ) 1 ( 5 ) 2 23 ( 26 ) — 5 Comprehensive income 364 204 1,085 1,491 Less: Comprehensive income attributable to noncontrolling interest