CF Industries Holdings, Inc. reported a significant increase in financial performance for the first quarter of 2025, with net earnings attributable to common stockholders reaching $312 million, up 61% from $194 million in the same period last year. This growth was driven by a 13% increase in net sales, totaling $1.66 billion, compared to $1.47 billion in the first quarter of 2024. The company attributed this rise to an 11% increase in sales volume, which contributed approximately $176 million to net sales, and a 2% increase in average selling prices, which added around $17 million.
The company's gross margin also saw a notable increase of 40%, rising to $572 million from $409 million year-over-year. This improvement was primarily due to higher sales volumes and average selling prices, which were partially offset by increased natural gas costs. The average selling price for CF Industries' products was $332 per ton, compared to $325 per ton in the previous year. The company reported a diluted earnings per share of $1.85, an increase of 80% from $1.03 in the prior year, reflecting both higher net earnings and a reduction in the weighted-average common shares outstanding due to share repurchases.
In terms of operational developments, CF Industries reported a sales volume of 5.0 million tons in the first quarter of 2025, up from 4.5 million tons in the same quarter of 2024. The company also noted a strategic joint venture formed with JERA Co., Inc. and Mitsui & Co., aimed at constructing a low-carbon ammonia production facility in Louisiana, with an estimated cost of $4 billion. This facility is expected to begin production in 2029 and will significantly contribute to the company's decarbonization efforts.
On the balance sheet, total assets decreased slightly to $13.31 billion as of March 31, 2025, down from $13.47 billion at the end of 2024. Cash and cash equivalents also fell to $1.41 billion from $1.61 billion. The company maintained a strong liquidity position, with $750 million in unused borrowing capacity under its revolving credit agreement. Looking ahead, CF Industries anticipates continued growth driven by strong demand for its products and ongoing investments in low-carbon technologies, while also navigating the challenges posed by fluctuating natural gas prices and global market conditions.
About CF Industries Holdings, Inc.
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