Based in Northbrook, Illinois, CF Industries Holdings, Inc. (CF) is a global manufacturer and distributor of agricultural fertilizers specializing in nitrogen products. It is renowned for its extensive network and commitment to sustainable practices. CF Industries plays a crucial role in enhancing food production worldwide. With a market cap of $13.07 billion, CF Industries is recognized for its innovation, efficiency, and dedication to supporting farmers with high-quality fertilizer solutions. CF is scheduled to announce its fiscal Q2 earnings results after the market closes on Wednesday, Aug. 7.
Ahead of the event, analysts expect CF to report a profit of $1.87 per share, down 30.7% from $2.70 per share in the year-ago quarter. In the last four quarters, the company has missed Wall Street’s bottom-line estimates in three and surpassed on another occasion.
CF Industries' adjusted earnings of $1.03 per share for the last quarter missed the consensus estimate by 29.9%. Lower selling prices decreased global energy costs, and production disruptions from severe weather contributed to the company's Q1 2024 EPS decline.
For fiscal 2024, analysts expect CF to report EPS of $5.18, down 35.5% from $8.03 in fiscal 2023.
CF stock is down 10.1% on a YTD basis, underperforming the broader S&P 500 Index's ($SPX) 13.8% gains and the iShares U.S. Basic Materials ETF’s (IYM) 2.1% returns over the same time frame.
On June 24, Fertilizer stocks surged after China restricted exports to control domestic prices, leading CF to close up over 3%. On June 5, the stocks fell, with CF dropping over 4% after Egypt announced the resumption of nitrogen output at facilities previously disrupted by natural gas shortages.
CF reported Q1 earnings on May 1. Revenue for the period was $1.47 billion, matching the analysts' forecasts. The stock declined 1.3% on the day it released earnings and fell the following day.
The consensus opinion on CF stock is optimistic, with an overall “Moderate Buy” rating. Out of 14 analysts covering the stock, four advise a “Strong Buy” rating, one recommends a “Moderate Buy,” eight suggest a “Hold” rating, and one recommends a “Strong Sell.” CF's average analyst price target is $81.77, indicating a potential upside of 14.4% from the current levels.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
