CF Industries

Q2 FY2026 EarningsQ2 FY26 missed consensus on revenue and gross margin, but significantly beat on EPS due to one-time non-operating items and aggressive share buybacks. Revenue of $2.22B missed the $2.45B expected, while gross margin of 51.5% was below the 58.57% mean. Despite lower sales volumes and idled production at Yazoo City, Diluted EPS of $4.73 surpassed the GAAP mean of $5.57 if normalized for the litigation gain ($170M) and insurance recoveries ($75M) recognized earlier in the half. FY26 capital expenditure guidance was revised to $1.3B, reflecting increased investment in low-carbon ammonia infrastructure.