CF Industries reported strong Q1 results driven by operational efficiency and constrained global nitrogen supply amid geopolitical tensions.
CF Industries reported first-quarter 2026 adjusted EBITDA of $983 million, reflecting robust operational performance and a tightening global nitrogen market. The company cited nearly 100% utilization of available ammonia capacity during the period.
Net earnings attributable to common stockholders reached $615 million, or $3.98 per diluted share, including a $170 million gain from a litigation settlement. Executives highlighted a trailing 12-month recordable incident rate of 0.16 incidents per 200,000 hours worked.
The company noted the global nitrogen market has been tight for over a year, with conditions worsening due to the Strait of Hormuz closure and conflict with Iran. This dynamic supported pricing and demand heading into the North American spring season.