Q2 FY26 · Ended Jun 30, 2026 · View SEC filing
CF shipped less and still sold more
Volume fell from a year earlier, but every major product fetched more per ton, so net sales rose 17.6%.
For investorsWhat has to stay true for this margin to last?
For foundersWinning on cost in a market you cannot price
Cost of sales fell 5.1% on fewer tons, so gross margin grew by more dollars than sales did.
$142M of net earnings went to partners, mainly CHS through its stake in CF's main U.S. nitrogen subsidiary.
Prices settle where the costliest producer still needed breaks even, while CF buys its gas in North America, where it stayed cheaper.
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Business Lens describes CF Industries from its own filings with the SEC. It is not a view on its shares, a target, or advice to buy, sell or hold anything; figures are as filed and may be restated by the company later. The filing is linked above.
