CF Industries Reports Solid 1Q Despite Weather Delays; Maintaining $50 FVE
As weather-related issues delayed farmer planting and fertilizer applications across the United States for a second straight year, CF Industries reported relatively solid first-quarter results. Thanks to higher prices, adjusted EBITDA was up 3% year on year to $305 million despite a 5% drop in total product volumes. Similar to what occurred in 2018, we expect that CF will be able to make up nearly all of the lower first-quarter volumes throughout the remainder of the year. We forecast 5% higher ...CF Industries Holdings is a global fertilizer and chemical company. The company's principal nitrogen fertilizer products are anhydrous ammonia, granular urea, urea ammonium nitrate solution and ammonium nitrate. The company's other nitrogen products include diesel exhaust fluid, urea liquor, nitric acid and aqua ammonia, which are sold primarily to its industrial customers, and compound fertilizer products, which are solid granular fertilizer products for which the nutrient content is a combination of nitrogen, phosphorus, and potassium. The company serves its customers in North America through its production, storage, transportation and distribution network.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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