Top Corn Fertilizer Maker Sees Profit Plunge as Prices Tumble.
In: Bloomberg.com, 2024-02-14, S. N.PAG
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CF Industries Holdings Inc., the world's largest producer of nitrogen fertilizer for corn and other crops, reported a significant decline in quarterly profit and sales due to falling prices. The company's fourth-quarter sales dropped 40% from the previous year to $1.57 billion, and net income fell to $1.44 per share from $4.35. The decline in prices is attributed to the drop in fertilizer prices from record highs in 2022 caused by Russia's invasion of Ukraine. However, CF Industries Holdings Inc. is optimistic about this year, expecting better profits in US agriculture as lower grain prices offset the cost of farm inputs. The company also predicts strong nitrogen demand in North America for the spring 2024 application season. [Extracted from the article]
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Top Corn Fertilizer Maker Sees Profit Plunge as Prices Tumble.
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Autor/in / Beteiligte Person: | Chipman, Kim |
Zeitschrift: | Bloomberg.com, 2024-02-14, S. N.PAG |
Veröffentlichung: | 2024 |
Medientyp: | serialPeriodical |
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