CF Industries Holdings (CF) Earnings: Q3 2026 Results

CF Industries has reported a newer quarter since these figures. Everything below is for Q3 2026, the quarter ended September 30, 2026.

The quarter ended September 30, 2026 and CF Industries published the results on November 4, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison.

• In Q3 2026 CF Industries re-evaluated its U.S.-Canada transfer pricing positions. The net effect was a $30 million income tax benefit and $65 million of net interest expense before tax ($80 million after tax).
• The Yazoo City, Mississippi complex has been idle since an incident in November 2025. Q3 2026 includes $62 million of business interruption insurance recoveries.
• CF Industries consolidates the Blue Point One joint venture it owns 40% of; the 60% held by JERA and Mitsui is recorded as noncontrolling interests.

Source: CF Industries Q3 2026 results, November 4, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How CF Industries splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• CF Industries's Ammonia revenue was $534 million in Q3 2026, up 17% from $457 million in Q3 2025, 29% of total revenue.
• CF Industries's Granular Urea revenue was $456 million in Q3 2026, up 8% from $423 million in Q3 2025, 25% of total revenue.
• CF Industries's UAN revenue was $639 million in Q3 2026, up 24% from $517 million in Q3 2025, 34% of total revenue.
• CF Industries's AN revenue was $67.0 million in Q3 2026, down 45% from $122 million in Q3 2025, 4% of total revenue.
• CF Industries's Other revenue was $164 million in Q3 2026, up 17% from $140 million in Q3 2025, 9% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

CF Industries gives no revenue or EPS outlook. Its release projects production volume, capital spending and the nitrogen market.

In its Q3 2026 release, CF Industries said:

“The Company expects gross ammonia production for the full year 2026 to be approximately 9.5 million tons, which includes the impact of the ongoing outage at the Yazoo City, Mississippi, Complex as a result of an incident that occurred in November 2025.”

“For the full year, management projects capital expenditures for CF Industries, excluding the portion of capital expenditures funded by JERA and Mitsui, to be approximately $950 million.”

“Management expects the Yazoo City Complex to resume operations during the first half of 2027.”

Source: CF Industries Q3 2026 release, Nov 4, 2026.

This is the company's own guidance as of Nov 4, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the CF forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

Net sales and diluted net earnings per share attributable to common stockholders, each as first reported in that quarter's release.

We do not hold a confirmed date for CF Industries's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Nov 4, 2026

CF Industries sells nitrogen products made from ammonia, and reports five segments. In Q3 2026 UAN was the largest at $639 million of $1,860 million in net sales, followed by Ammonia at $534 million, Granular Urea at $456 million, Other (mainly diesel exhaust fluid, urea liquor and nitric acid) at $164 million and AN at $67 million. (CF Industries Q3 2026 release, Nov 4, 2026)

CF Industries said sales volumes were 7% higher than in Q3 2025, on higher UAN, urea and other sales, and that excluding lost product from the Yazoo City complex volumes were approximately 13% higher. Average selling prices rose 5% to $388 per ton from $368. Prices were higher for ammonia ($532 per product ton, against $418) and AN, and lower for urea ($423, against $450) and UAN ($322, against $331). (CF Industries Q3 2026 release, Nov 4, 2026; CF Industries Form 10-Q, Q3 2026, Nov 5, 2026)

The AN segment shrank because of the Yazoo City, Mississippi complex. An incident in its AN upgrade area in November 2025 idled all production at the site, and CF Industries says lower AN sales volumes were due primarily to that. AN sales volume fell to 127 thousand product tons from 384 thousand, and AN production to 146 thousand tons from 360 thousand. CF Industries expects Yazoo City to resume operations in the first half of 2027. (CF Industries Form 10-Q, Q3 2026, Nov 5, 2026; CF Industries Q3 2026 release, Nov 4, 2026)

By shipment destination, $1,456 million of Q3 2026 revenue went to North America and $404 million to Europe and other. CF Industries' customers are cooperatives, retailers, independent fertilizer distributors, traders, wholesalers and industrial users, served from six U.S. plants, two in Canada and one in the United Kingdom. (CF Industries Form 10-Q, Q3 2026, Nov 5, 2026)

CF Industries reported diluted EPS of $2.87 in Q3 2026, against $2.19 a year earlier, on net earnings attributable to common stockholders of $436 million. CF Industries does not report an adjusted EPS figure; its non-GAAP measures are EBITDA ($822 million) and adjusted EBITDA ($833 million). Net earnings attributable to noncontrolling interests, mostly CHS's stake in CF Industries Nitrogen and the Blue Point One partners, took $84 million. (CF Industries Q3 2026 release, Nov 4, 2026)

Several one-offs sit inside the GAAP figure. A re-evaluation of U.S.-Canada transfer pricing positions added $131 million of interest expense and $66 million of interest income, for a net $80 million after-tax cost, while $62 million of Yazoo City business interruption insurance recoveries and $19 million of 45Q tax credits helped. The effective tax rate was 15.9%, against 18.6%, lowered 3.2 percentage points by a $20 million state tax benefit. (CF Industries Q3 2026 release, Nov 4, 2026; CF Industries Form 10-Q, Q3 2026, Nov 5, 2026)

Share repurchases lifted EPS growth above net earnings growth. Diluted weighted-average shares were 151.6 million, down 6% from 161.2 million. CF Industries repurchased 3.0 million shares for $367 million in the quarter, and approximately $1.11 billion remains under its $2 billion program. (CF Industries Form 10-Q, Q3 2026, Nov 5, 2026; CF Industries Q3 2026 release, Nov 4, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

CF Industries gives no revenue or EPS guidance. Its release projects full-year 2026 gross ammonia production of approximately 9.5 million tons, including the Yazoo City outage, and capital expenditures of approximately $1.3 billion including the Blue Point One joint venture, or approximately $950 million excluding the share funded by JERA and Mitsui. (CF Industries Q3 2026 release, Nov 4, 2026)

On the market, CF Industries expects the global nitrogen supply-demand balance to stay constructive for North American producers. It estimates that only about half of average urea exports from the Middle East have left the Persian Gulf region since the conflict with Iran began, and said an estimated 37% of Europe's nameplate ammonia capacity was offline or running at reduced rates in October 2026. (CF Industries Q3 2026 release, Nov 4, 2026)

A consensus figure is the average of the models published by the analysts who cover CF Industries, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones CF Industries's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning CF is on is CF a buy or a sell?, what analysts expect next is on the CF forecast, and what the company does is on the CF Industries Holdings (CF) stock page.

Every number on this page can be traced to a document CF Industries published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.