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BRIEF-CF Industries Holdings reports Q1 2017 results
May 3, 2017 / 9:38 PM / 7 months ago

BRIEF-CF Industries Holdings reports Q1 2017 results

May 3 (Reuters) - CF Industries Holdings Inc:

* Cf Industries Holdings, Inc. reports first quarter net loss of $23 million and EBITDA of $218 million; adjusted net earnings of $11 million and adjusted EBITDA of $272 million

* Q1 adjusted earnings per share $0.05

* Q1 loss per share $0.10

* Q1 sales $1.037 billion versus I/B/E/S view $997.2 million

* Q1 earnings per share view $0.02 -- Thomson Reuters I/B/E/S

* Says “global nitrogen supply surplus continues to pressure marginal producers in china and other regions”

* Says new capital expenditures for 2017 are estimated to be in range of approximately $400 to $450 million for sustaining and other

* Says expects to receive tax refunds of about $800 million due to carryback of certain federal, state tax losses from 2016 tax year to prior periods

* Says cash refunds related to tax loss carryback are expected to be received in Q3 of 2017

* Says CF continues to expect 5-6 million metric tons of total urea exports from china in 2017

* Says company did not enter into any additional natural gas hedges in Q1 of 2017

* Says average selling prices in Q1 2017 were lower than average selling prices in Q1 2016 due to greater global nitrogen supply availability

* Sees uneven pricing environment to continue through 2017,with spring increase possible before return to low levels in summer Source text for Eikon: Further company coverage: (Reporting by Prithvi Kanti Bandyopadhyay)

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