General
CF Industries posts $615M Q1 profit
As global nitrogen supply tightens & geopolitical pressures intensify
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By ICN Bureau | May 13, 2026
CF Industries Holdings reported a strong start to 2026, posting robust first-quarter earnings driven by tight global nitrogen supply, strong demand, and one-time gains from a legal settlement.
The company said net earnings for the quarter ended March 31, 2026 reached $615 million, or $3.98 per diluted share, with EBITDA of $1.01 billion and adjusted EBITDA of $983 million. Results included a roughly $170 million boost from a litigation settlement, helping lift overall profitability.
Cash generation remained solid, with trailing twelve-month net cash from operating activities of $2.66 billion and free cash flow of $1.65 billion. The figure reflects activity tied to the Blue Point joint venture. The company also returned capital to shareholders, repurchasing about 155,000 shares for $15 million during the quarter.
Operationally, CF expanded its sustainability push, launching a low-carbon UAN collaboration with PepsiCo aimed at reducing emissions in the Frito-Lay U.S. potato supply chain.
“The CF Industries team continued to deliver safely outstanding operational performance in the first quarter of 2026 against a backdrop of strong global nitrogen demand and tight global nitrogen supply as we entered the year,” said Chris Bohn, president and chief executive officer, CF Industries Holdings, Inc.
“The conflict with Iran has further constrained global nitrogen supply and exposed the fragile nature of the global nitrogen supply chain. We remain focused on safe operations and high asset utilization across our low-cost North American-based manufacturing and distribution network, enabling CF Industries to continue to be a reliable supplier to customers and to create substantial value for long-term shareholders.”
Looking ahead, CF Industries emphasized continued operational discipline and reliability as global nitrogen markets remain constrained and geopolitically sensitive.
