Why Shares of CF Industries Are Climbing Today
Shares of CF Industries Holdings (NYSE: CF) jumped more than 7% on Thursday after the fertilizer manufacturer reported quarterly results that came in above expectations. Investors had been worried about the impact of flooding in the Midwest and trade wars that have eaten into agricultural products demand from China, but so far CF is performing well despite the difficulties.
Late Wednesday, CF said it earned $1.28 per share on revenue of $1.5 billion in the quarter, easily surpassing analyst expectations for $0.84 per share in earnings on $1.4 billion in sales. CF CEO Tony Will in a statement admitted it was "a challenging spring season," marred by record flooding in the U.S. Midwest that devastated farms across America's Corn Belt.
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