CF Industries(NYSE) CF

CF Industries makes chemicals that help farmers grow more food and fuel. They create products from nitrogen and hydrogen used in farming, energy, and industry. These items help clean truck exhaust and provide essential nutrients for crops.

What is CF Industries Selling?

• Ammonia: Basic chemical containing nitrogen and hydrogen used as a direct fertilizer or to make other products; accounts for 31% of net sales in 2025.
• Urea Ammonium Nitrate: Liquid fertilizer combining different nitrogen forms for easier application; represented 31% of net sales in 2025.
• Granular Urea: Solid nitrogen product often used in farming and industrial chemical manufacturing; makes up 25% of net sales in 2025.
• Ammonium Nitrate: Nitrogen-rich chemical used for crop fertilizer and by the commercial explosives industry; accounts for 6% of net sales in 2025.
• Other Products: Includes diesel exhaust fluid to reduce truck emissions and various liquid chemicals for industrial users; totaled 8% of net sales in 2025.

New Paths to Growth

• Completed a carbon capture project in July 2025 at the Donaldsonville complex to produce low-carbon ammonia.
• Purchased an ammonia manufacturing site in Waggaman, Louisiana, from Incitec Pivot Limited in December 2023.
• Formed the Blue Point joint venture in April 2025 with JERA and Mitsui to build a new low-carbon production facility.
• Finished a project at the Verdigris plant in late 2025 to lower nitrous oxide emissions by over 600,000 metric tons annually.

The Company's Key Advantages

CF Industries operates the largest ammonia production site in the world in Louisiana and runs a massive 2,000-mile pipeline to move products across the American Midwest. They use advanced carbon capture technology to create low-carbon products for international markets like Japan and Europe.

Recent Financial Performance

• Revenue grew to $1.9 billion in Q4 2025, a 22.8% increase from Q4 2024.
• Operating income rose to $678 million in Q4 2025, up 52.4% year-over-year.
• Net income reached $404 million in Q4 2025, up 23.2% from the previous year.
• Free cash flow hit $313 million in Q4 2025, growing 40.4% from Q4 2024.

Bottom Line

CF Industries has shifted from a traditional cooperative into a global leader in nitrogen and low-carbon energy products. By focusing on decarbonizing its existing production network, the company is preparing for a future where customers value cleaner chemical manufacturing.