CF Industries Holdings, Inc. Reports Full Year 2022 Net Earnings of $3.35 Billion, Adjusted EBITDA of $5.88 Billion

CF Industries Holdings, Inc. (NYSE: CF), a leading global manufacturer of hydrogen and nitrogen products, today announced results for the full year and fourth quarter ended December 31, 2022.

Highlights

• Full year net earnings of $3.35 billion⁽¹⁾, or $16.38 per diluted share, EBITDA⁽²⁾ of $5.54 billion, and adjusted EBITDA⁽²⁾ of $5.88 billion
• Fourth quarter net earnings of $860 million⁽¹⁾, or $4.35 per diluted share, EBITDA⁽²⁾ of $1.25 billion, and adjusted EBITDA⁽²⁾ of $1.30 billion
• Full year net cash from operating activities of $3.86 billion and free cash flow⁽³⁾ of $2.78 billion; these amounts reflect the impact of $491 million in payments related to a Canada/U.S. tax matter
• Repurchased approximately 2.2 million shares for $223 million during the fourth quarter of 2022
• Signed a memorandum of understanding with JERA Co., Inc., Japan’s largest energy generator, regarding the supply of up to 500,000 metric tons per year of clean ammonia beginning in 2027

“The CF Industries team delivered outstanding results in 2022, producing record financial performance for the fourth quarter and full year by working safely, operating our manufacturing and distribution assets extremely well, and serving our global customer base,” said Tony Will, president and chief executive officer, CF Industries Holdings, Inc. “At the same time, we drove significant progress across our clean energy and strategic initiatives by entering into our landmark carbon capture and sequestration partnership with ExxonMobil, commencing a front-end engineering and design study for our proposed blue ammonia plant in Louisiana, and being selected for advanced discussions with JERA Co. Inc., for the first significant volumes of ammonia as a clean energy source.

“Looking ahead, we believe that the global nitrogen supply-demand balance and global energy cost structure will continue to present attractive margin opportunities for our cost-advantaged network. As a result, we expect to drive strong cash generation in the years ahead, enabling us to make disciplined investments in our clean energy initiatives to meet what we believe will be significant global demand for low-carbon ammonia while we continue to return substantial capital to shareholders.”

Read the full press release here.