CF Industries Holdings, Inc. Reports First Half 2026 Net Earnings of $1.34 Billion, Adjusted EBITDA of $2.18 Billion

Strong Operations: Production Achieved 98% of Available Ammonia Capacity Global Nitrogen Supply-Demand Fundamentals Remain Constructive into 2027 Blue Point One Receives Permits, Construction Commencing in August NORTHBROOK, Ill.--(BUSINESS WIRE)-- CF Industries Holdings, Inc. (NYSE: CF), a leading global manufacturer of hydrogen and nitrogen products, today announced results for the first half and second quarter ended June 30, 2026. Highlights First half 2026 net earnings (1) of $1.34 billion, or $8.71 per diluted share, EBITDA (2) of $2.17 billion, and adjusted EBITDA (2) of $2.18 billion. First half 2026 financial results include a gain of approximately $170 million from a litigation settlement Second quarter 2026 net earnings of $727 million, or $4.73 per diluted share, EBITDA of $1.17 billion, and adjusted EBITDA of $1.19 billion Trailing twelve months net cash from operating activities of $2.98 billion; free cash flow (3) of $1.82 billion for same period, which includes cash inflows and outflows associated with the Blue Point One joint venture Repurchased 2.0 million shares for $230 million during the second quarter of 2026 Declared quarterly dividend of $0.60 per share of common stock in July 2026, a 20% increase over prior quarterly dividend In July 2026, received permits necessary to commence construction at Blue Point Complex in August “The CF Industries team operated safely and delivered excellent operational results despite rapidly changing customer dynamics,” said Chris Bohn, president and chief executive officer, CF Industries Holdings, Inc. “We believe the Company is positioned extremely well in the near- and longer-term, with our premium-grade North American asset base, disciplined strategic growth opportunities, including Blue Point, and strong balance sheet. As a result, we believe CF Industries will continue to generate substantial free cash flow, enabling us to build on our strong track record of investing in high-return initiatives and returning capital to shareholders through share repurchases and our increased quarterly dividend.” Operations Overview The Company’s trailing twelve-month recordable incident rate was 0.16 incidents per 200,000 work hours as of June 30, 2026. Gross ammonia production for the first half and second quarter of 2026 was approximately 4.9 million and 2.4 million tons, respectively. Year-to-date, the Company has operated at a 98% utilization rate of available ammonia capacity. (4) The Company expects gross ammonia production for the full year 2026 to be approximately 9.5 million tons, which includes the impact of the ongoing outage at the Yazoo City, Mississippi, Complex as a result of an incident that occurred in November 2025. Management expects the Yazoo City Complex to resume ammonia, ammonium nitrate solution, nitric acid, urea ammonium nitrate solution (UAN) and urea liquor production during the first half of 2027. The Company is finalizing cost estimates for restoration of operations at the facility and expects a substantial portion of the cost will be covered by insurance. The Yazoo City Complex carbon capture and sequestration project is proceeding as scheduled and is expected to start up in 2028. Financial Results Overview First Half 2026 Financial Results For the first half of 2026, net earnings attributable to common stockholders were $1.34 billion, or $8.71 per diluted share, EBITDA was $2.17 billion, and adjusted EBITDA was $2.18 billion. These results compare to first half of 2025 net earnings attributable to common stockholders of $698 million, or $4.20 per diluted share, EBITDA of $1.37 billion, and adjusted EBITDA of $1.41 billion. First half 2026 financial results include a gain of approximately $170 million from a litigation settlement. Net sales in the first half of 2026 were $4.21 billion compared to $3.55 billion in the first half of 2025. Average selling prices for the first half of 2026 were higher than in the first half of 2025 due to a tight global