Filing Flows › CF Industries Holdings (CF) › Q1 2025
CF Industries Holdings (CF) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 8, 2025
CF Industries Holdings (CF) reported revenue of $1.7B for the first quarter 2025 (Q1 2025), +13% from a year earlier and +9% from the quarter before. Operating margin was 27.4%, net earnings $312M (18.8% of revenue).
CF Industries Holdings, Q1 2025: revenue $1.7B (+13% year over year), operating margin 27.4%, net earnings $312M, operating cash flow $586M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.7B | +9% | +13% |
| Gross profit | $572M | +9% | +40% |
| Operating profit | $455M | +3% | +50% |
| Net earnings | $312M | -5% | +61% |
| Operating cash flow | $586M | +40% | +32% |
| Free cash flow | $454M | +104% | +31% |
What changed
Revenue was $1.7B in Q1 2025, up 13% year over year and up 9% from the previous quarter. Ammonia was the largest line at 31% of revenue. Ammonia added $0.12B year over year (up 29%), 61% of the total change. AN declined 11%.
Gross margin was 34.4%, up 6.6 points from a year earlier. Operating profit was $0.46B, a 27.4% margin (up 6.7 points year over year). Of the extra revenue versus a year earlier, 79% reached operating profit, above the 21% margin then. Operating expenses grew 10% against revenue growth of 13%. The fastest-growing cost line was Other operating costs (+83%). Net earnings were $0.31B, up 61% year over year. The effective tax rate was 19.7%.
Operating cash flow was $0.59B (up 32% year over year), 167% of net income including minority interests. Non-cash charges added back $0.22B of depreciation and amortization and $0.01B of share-based compensation. Capital expenditures of $0.13B left free cash flow of $0.45B.
Questions
What was CF Industries Holdings' revenue in the first quarter 2025?
CF Industries Holdings (CF) reported revenue of $1.7B for the first quarter 2025 (Q1 2025), +13% from a year earlier and +9% from the quarter before.
Was CF Industries Holdings profitable in the first quarter 2025?
Operating profit was $455M (27.4% of revenue) and net earnings $312M.