$CF · CF Industries Holdings, Inc.
CF Industries filed an 8-K (Items 2.02, 9.01) announcing Q3 FY2026 results for the quarter ended September 30, 2026, with a conference call scheduled for November 5, 2026. Revenue was $1.86B, net earnings $436M, and adjusted EBITDA $833M. LTM figures include $3.8B adjusted EBITDA, $3.1B cash from operations, $2.0B free cash flow, and $1.3B capital returned to shareholders.
- Q3 FY2026 revenue of $1.86B and net earnings of $436M.
- Q3 2026 adjusted EBITDA of $833M; LTM adjusted EBITDA of $3.8B.
- LTM free cash flow of $2.0B; $1.3B capital returned to shareholders.
- 97% 9M 2026 available ammonia capacity utilization, 10% above North America peers.
- $1.1B remaining in the $2B share repurchase authorization through 2029.
Stock fell 4.39% in the regular session to $111.68, but extended-hours trading recovered to $113.22, up 1.38% versus the regular close.
Strong nitrogen fundamentals and 97% capacity utilization drove robust cash generation, with $1.1B remaining in buyback authorization.
CF's 96% five-year capacity utilization runs 10 points above the 86% North American peer benchmark, yielding roughly 1 million extra tons of ammonia annually.
Blue Point Complex capex may exceed current estimates; natural gas price volatility and tariff/retaliatory measures could pressure costs and nitrogen pricing.