---
title: "CF Industries | 8-K: FY2025 Q1 Revenue Beats Estimate at USD 1.663 B"
type: "News"
locale: "zh-HK"
url: "https://longbridge.com/zh-HK/news/239199342.md"
datetime: "2025-05-07T20:43:54.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/239199342.md)
  - [en](https://longbridge.com/en/news/239199342.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/239199342.md)
---

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# CF Industries | 8-K: FY2025 Q1 Revenue Beats Estimate at USD 1.663 B

Revenue: As of FY2025 Q1, the actual value is USD 1.663 B, beating the estimate of USD 1.536 B.

EPS: As of FY2025 Q1, the actual value is USD 1.85, beating the estimate of USD 1.5053.

EBIT: As of FY2025 Q1, the actual value is USD 617 M.

### Financial Results Overview

-   **Net Earnings**: CF Industries Holdings, Inc. reported net earnings attributable to common stockholders of $312 million for the first quarter of 2025, compared to $194 million in the first quarter of 2024.
-   **EBITDA**: The company achieved an EBITDA of $617 million and adjusted EBITDA of $644 million for the first quarter of 2025, compared to $488 million and $459 million, respectively, in the first quarter of 2024.
-   **Net Sales**: Net sales for the first quarter of 2025 were $1.66 billion, an increase from $1.47 billion in the first quarter of 2024.
-   **Gross Margin**: The gross margin for the first quarter of 2025 was $572 million, up from $409 million in the first quarter of 2024, with a gross margin percentage of 34.4% compared to 27.8% in the previous year.

### Cash Flow

-   **Operating Cash Flow**: Net cash provided by operating activities for the first quarter of 2025 was $586 million, compared to $445 million in the first quarter of 2024.
-   **Free Cash Flow**: Free cash flow for the trailing twelve months ended March 31, 2025, was $1.57 billion.

### Capital Management

-   **Capital Expenditures**: Capital expenditures for the first quarter of 2025 were $132 million, compared to $98 million in the first quarter of 2024.
-   **Share Repurchase**: CF Industries repurchased 5.4 million shares for $434 million during the first quarter of 2025 and authorized an additional $2 billion share repurchase program through 2029.

### Segment Performance

#### Ammonia Segment

-   **Net Sales**: $520 million in Q1 2025, up from $402 million in Q1 2024.
-   **Gross Margin**: $186 million in Q1 2025, compared to $65 million in Q1 2024.

#### Granular Urea Segment

-   **Net Sales**: $439 million in Q1 2025, up from $407 million in Q1 2024.
-   **Gross Margin**: $173 million in Q1 2025, compared to $154 million in Q1 2024.

#### UAN Segment

-   **Net Sales**: $470 million in Q1 2025, up from $425 million in Q1 2024.
-   **Gross Margin**: $142 million in Q1 2025, compared to $143 million in Q1 2024.

#### AN Segment

-   **Net Sales**: $101 million in Q1 2025, down from $114 million in Q1 2024.
-   **Gross Margin**: $16 million in Q1 2025, compared to $9 million in Q1 2024.

#### Other Segment

-   **Net Sales**: $133 million in Q1 2025, up from $122 million in Q1 2024.
-   **Gross Margin**: $55 million in Q1 2025, compared to $38 million in Q1 2024.

### Outlook / Guidance

-   CF Industries expects strong nitrogen demand in North America during the spring application season due to favorable returns for corn compared to soybeans, driving higher planted corn acres in 2025 compared to 2024.
-   Management anticipates the global nitrogen supply-demand balance to remain constructive due to expected strong demand from the global corn stocks-to-use ratio reaching its lowest level since 2013.
-   Over the medium-term, significant energy cost differentials between North American producers and high-cost producers in Europe and Asia are expected to persist, supporting strong margin opportunities for low-cost North American producers.

### 相關股票

- [CF Industries (CF.US)](https://longbridge.com/zh-HK/quote/CF.US.md)

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