CF Industries Holdings Inc

CF: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$52.00	Jcdfk	Nvflmwp

CF Industries Earnings: Shares Rally on Strong Results

Seth Goldstein

Aug 8, 2024

CF Industries' second-quarter results reflected lower nitrogen prices. Companywide adjusted EBITDA was down 12% versus the prior-year quarter as lower prices and volumes were partially offset by lower natural gas input costs. The results were consistent with our outlook for the year for lower nitrogen and profits, partially offset by lower US natural gas costs. Having updated our model to incorporate the second-quarter results, we're maintaining our $85 fair value estimate for CF Industries. Our narrow-moat rating is also unchanged.

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