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15:00
Aug 06 ◎

CF FY2026 Q2 Watch

CF Industries Holdings, Inc. (CF) FY2026 Q2 Earnings Call

LIN OXY YAR.OL JERA XOM ▾

Chris Bohn

CF's partnership with Linde on the Bluepoint CCS unit is a cost mitigation strategy; reaffirms Linde's role in major industrial gas projects.

"We did that a couple different ways. One was through our partnerships where we partnered with Lindy and even Oxy's 1.5 on the CCS unit."

LIN WATCH

Chris Bohn

CF is partnering with Oxy on the CCS unit at Bluepoint, which helps mitigate costs and locks in a strategic relationship for Oxy's low-carbon strategy.

"We did that a couple different ways. One was through our partnerships where we partnered with Lindy and even Oxy's 1.5 on the CCS unit."

OXY WATCH

Bert Frost

Yara's acquisition of the Gulf Coast ammonia plant will likely redirect its output to Europe, impacting global ammonia trade flows and potentially boosting Yara's feedstock security.

"and now with Yara purchasing the Gulf Coast plant, I assume a lot of that product will go to Europe, offsetting production cutbacks."

YAR.OL WATCH

Chris Bohn

CF's partnership with Jera is a key off-take agreement for Bluepoint's low-carbon ammonia, providing a committed revenue stream for the project.

"The million tons that will be going both to Jera and Mitsui, our partners, is a million tons of incremental demand that didn't exist just a few years ago."

JERA WATCH

Andrew Scribner

CF's arrangement with Exxon for CO2 transport and storage is in place, with the economics set to improve once the Class VI permit is approved.

"Economically, we're indifferent because our transfer today is at a zero cost with Exxon, and it will move up to the contractual rate once the Class 6 is in place."

XOM WATCH

Chris Bohn

Management is confident in the long-term outlook, driven by structural increases in capital costs and a tightening global supply-demand balance, which raises the mid-cycle EBITDA baseline, excluding any geopolitical premium.

"Higher global capital costs have structurally raised the incentive price required for new global nitrogen capacity, lifting CF industry's baseline mid-cycle earnings power."

CF WATCH

Chris Bohn

CF's partnership with Mitsui is a key off-take agreement for Bluepoint's low-carbon ammonia, providing a committed revenue stream.

"The million tons that will be going both to Jera and Mitsui, our partners, is a million tons of incremental demand that didn't exist just a few years ago."

MITSY WATCH

HIGH

15:00
May 07 ◎

CF FY2026 Q1 Watch

CF Industries Holdings, Inc. (CF) FY2026 Q1 Earnings Call

PEP ▾

Chris Bone

CF's partnership with PepsiCo and other CPG companies on low-carbon ammonia is a growing revenue opportunity that supports its decarbonization strategy.

"and then our recent announcement with Pepsi and other CPG companies that we're looking at working with, we look at decarbonization as creating value"

PEP WATCH

HIGH

16:00
Feb 19 ◎

CF FY2025 Q4 Watch

CF Industries Holdings, Inc. (CF) FY2025 Q4 Earnings Call

PBR MOS NTR ▾

Burt Frost

Petrobras is trying to restart Brazilian urea plants, but high costs and logistics issues may limit their impact on the market.

"I think that's an initiative of the Lula government and Petrobras to continue to invest and serve their domestic farmers as they can."

PBR WATCH

Burt Frost

Global nitrogen market remains tighter than expected due to delayed new capacity and demand growth, keeping prices above the cost curve floor. — Sustained high nitrogen prices suggest stronger earnings for other nitrogen producers like Mosaic and Nutrien.

"global nitrogen market remains tighter than expected. New capacity has been delayed, global production has not maintained historical levels, and demand continues to grow."

MOS WATCH NTR WATCH

MED

16:00
Nov 06 ◎

CF FY2025 Q3 Watch

CF Industries Holdings, Inc. (CF) FY2025 Q3 Earnings Call

JERA MITSY MSBHF CF ▾

Tony Will

Jera is co-investing with CF Industries in the Blue Point ultra-low emissions ammonia plant, implying a large-scale, long-term offtake or strategic partnership in clean ammonia.

"We have two world-class equity partners, Jera and Mitsui, with us in this venture"

JERA WATCH

Tony Will

Mitsui's investment in Blue Point de-risks the project and suggests strong Japanese demand for low-carbon ammonia.

"We have two world-class equity partners, Jera and Mitsui, with us in this venture"

MITSY WATCH

Tony Will

Strong order book for fall ammonia suggests healthy demand from distributors, but no specific company was directly mentioned.

"the robust fall ammonia program and the order book that supports it"

MSBHF WATCH

Tony Will

Management is highly bullish on the company's long-term value, emphasizing strong cash flow conversion, low valuation, and continued aggressive buybacks. They expect above mid-cycle results for 2025 and a robust growth trajectory driven by CCS projects and Blue Point.

"Our free cash flow generation is consistently high, and yet as shown on page 12, we have traded an anemic average cash flow multiple of barely 7.5 times free cash flow. Realistically, that should be the low end of an EBITDA multiple, not a"

CF WATCH

HIGH

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