CF Industries Holdings, Inc. produces ammonia and nitrogen products in North America, Europe, and internationally. Its segments include Ammonia, Granular Urea, UAN, AN, and Other. The company offers ammonia, granular urea, urea ammonium nitrate solution, ammonium nitrate, diesel exhaust fluid, urea liquor, and nitric acid, serving cooperatives, retailers, independent fertilizer distributors, traders, wholesalers, and industrial users. Founded in 1946, it is headquartered in Northbrook, Illinois.
A new report from ResearchAndMarkets.com forecasts that global ammonia market revenue will exceed US$89.95 billion in 2026, with strong growth projected through 2036. The 418-page study provides revenue forecasts, competitive intelligence, and commercial analysis across key segments, regions, and 25 national markets, profiling 15 prominent companies including BASF, Yara International, CF Industries, SABIC, and 73 other key players. Growth is driven by resilient fertiliser demand, premium low-carbon and green ammonia opportunities, and expanding uses in energy storage, fuels, chemicals, and refrigeration. The report also examines the impact of U.S. trade tariffs on global ammonia trade and energy costs, which continue to shape market competitiveness. It includes 136 tables and 198 charts, with forecasts through 2036 to help decision-makers identify investment areas and market-entry strategies.
CF Industries and Partners Break Ground on $3.7B Low-Carbon Ammonia Plant
CF Industries, JERA, and Mitsui have begun construction of Blue Point One, a $3.7 billion low-carbon ammonia plant in Louisiana, which will be the world's largest of its kind upon completion. The facility, with an annual capacity of 1.4 million metric tons, is expected to start production in 2029 and will capture about 98% of its carbon dioxide emissions. CF Industries holds a 40% stake in the joint venture, while JERA owns 35% and Mitsui 25%, with CF also investing an additional $550 million in shared infrastructure. Linde is investing over $400 million in an on-site air-separation unit, and a 1PointFive-Enbridge joint venture will handle carbon transport and sequestration. CF shares have risen 43.9% over the past year, outperforming the industry's decline of 43.5%.
CF · Capital · Positive CF Industries breaks ground on the $3.7B Blue Point One low-carbon ammonia JV, holding a 40% stake plus $550M in shared infrastructure investment.
8031.JP · Capital · Positive Mitsui owns a 25% stake in the $3.7B Blue Point One low-carbon ammonia joint venture.
JERA · Capital · Positive JERA owns a 35% stake in the Blue Point One low-carbon ammonia joint venture.
LIN · Capital · Positive Linde is investing over $400 million in an on-site air-separation unit for the Blue Point One facility.
ENB · Capital · Positive Enbridge's 1PointFive joint venture will handle carbon transport and sequestration for the new ammonia plant.
1PointFive · Capital · Positive 1PointFive's joint venture with Enbridge will handle carbon transport and sequestration for the Blue Point One low-carbon ammonia plant.
CF Industries reported second quarter 2026 net earnings of $727 million, or $4.73 per diluted share, with adjusted EBITDA of $1.2 billion. The company raised its mid-cycle EBITDA baseline to $2.9 billion and set a 2030 target of $3.3 billion, citing higher global capital costs and structural tightening in the nitrogen market. Management expects the global nitrogen market to remain tight into 2027, with continued structural tightening through the end of the decade. The company also announced a 20% dividend increase to $0.60 per share and repurchased $958 million of shares over the trailing 12 months.
This week's dividend activity included increased payouts from PNC Financial and CF Industries as well as declarations from Costco and Phillips 66. PNC Financial raised its dividend by 17.6% to $2.00 per share, while CF Industries boosted its payout by 20% to $0.60 per share. Costco declared a dividend of $1.47 per share, and Phillips 66 declared $0.27 per share. Looking ahead, Abbott Labs and AbbVie will see their ex-dividend dates on July 15, with payouts scheduled for August 17 and August 14, respectively.
CF Industries raises quarterly dividend by 20% to $0.60 per share
CF Industries has declared a quarterly dividend of $0.60 per share, a 20% increase from the previous $0.50. The dividend is payable on August 31 to shareholders of record as of August 14, with an ex-dividend date of August 14. The forward yield is 2.05%.
USDA Announces $500 Million Investment to Boost Domestic Fertilizer Production
The US Department of Agriculture has announced a $500 million investment in new and existing fertilizer facilities to accelerate domestic production. Agriculture Secretary Brooke Rollins said the agency will prioritize projects that can move faster, with a focus on nitrogen fertilizer initiatives such as CF Industries' low-carbon ammonia facility in Louisiana expected to break ground in about three weeks. The program will target a small number of projects that already have private financing and could be accelerated with federal capital, according to Deputy Agriculture Secretary Stephen Vaden. The move comes as fertilizer prices remain elevated due to geopolitical and trade conflicts, including US duties on key suppliers and the wars in Ukraine and Iran, raising concerns around US food security. Fertilizer stocks including Nutrien, Mosaic, and CF Industries fluctuated after the announcement as investors weighed the potential impact of federal support.
CF · Capital · Positive CF Industries' low-carbon ammonia facility is specifically named as a project that will receive federal capital support.
MOS · Capital · Neutral Mosaic is mentioned as a fertilizer stock that fluctuated after the announcement, but no specific project or direct impact is detailed.
NTR · Capital · Neutral Nutrien is mentioned as a fertilizer stock that fluctuated after the announcement, but no specific project or direct impact is detailed.
CF Industries Gains on Strong Nitrogen Demand and Higher Prices
CF Industries Holdings has gained 15.4% over the past year, outperforming the Zacks Fertilizers industry's 54.2% decline, supported by robust global nitrogen fertilizer demand and higher selling prices. The company reported a roughly 19% year-over-year increase in first-quarter net sales, driven by pricing strength amid supply disruptions and strong agricultural activity. However, rising natural gas costs remain a headwind, with the average cost increasing to $4.57 per MMBtu in the first quarter of 2026 from $3.68 a year earlier, pressuring margins. CF Industries currently carries a Zacks Rank #3 (Hold).
CF Industries faces margin pressure as natural gas costs surge
CF Industries Holdings is grappling with rising natural gas costs that threaten its margins despite healthy nitrogen fertilizer demand and higher prices. The company's average natural gas cost climbed to $3.31 per MMBtu in 2025 from $2.40 a year earlier, and further increased to $4.57 per MMBtu in the first quarter of 2026 from $3.68 in the prior-year period, driving up cost of sales. Peers Nutrien and Mosaic are also contending with elevated input costs, including sulfur and ammonia, which have compressed phosphate margins and are expected to exert additional pressure in the second quarter. CF Industries stock has risen 11.7% over the past year, outperforming the Zacks Fertilizers industry's 5.2% decline, and trades at a forward earnings multiple of 7.15, a 34.1% discount to the industry average. The Zacks Consensus Estimate projects an 83.1% year-over-year jump in 2026 earnings followed by a 34.9% decline in 2027, with estimates for both years trending higher over the past 60 days.
BHP Hikes Jansen Stage 2 Investment to $6.9 Billion After Review
BHP Group is increasing its total investment in the Jansen Stage 2 potash project to $6.9 billion, up from a previous estimate of $4.9 billion, following a detailed review. The higher cost reflects a delay in first production to late fiscal 2031, cost escalation, increased material quantities, and extra construction hours. As of May 31, 2026, the project is 16% complete with engineering 83% finished, and it is expected to produce 4.36 million tons per annum with an internal rate of return of 11% and an eight-year payback period. BHP will recognize $2.3 billion in impairment charges due to higher forecasted capital intensity for both stages and potential future expansions. The company is also advancing Jansen Stage 1 toward first production by mid-2027, which together with Stage 2 will double production capacity to 8.5 million tons per year, positioning BHP as a major global potash producer.
CF Industries Outshines Nutrien on Valuation and Growth Prospects
CF Industries Holdings holds an edge over Nutrien as a fertilizer investment, driven by a more attractive valuation and higher earnings growth projections. CF trades at a forward earnings multiple of 7.26, a roughly 34.8% discount to the Zacks Fertilizers industry average of 11.14, while Nutrien trades at 11.17. The Zacks Consensus Estimate for CF's 2026 earnings per share implies an 83.1% year-over-year increase, compared with 31.4% for Nutrien. CF also offers a five-year annualized dividend growth rate of 12.9%, well above Nutrien's 4.1%, though Nutrien provides a higher current dividend yield of roughly 3.4% versus CF's 1.9%. Both companies benefit from strong global fertilizer demand and tight supply, but CF's nitrogen-focused portfolio and robust free cash flow conversion support its stronger near-term outlook.
CF · Capital · Positive CF Industries has a more attractive valuation (forward P/E 7.26 vs industry 11.14) and higher earnings growth projections (83.1% YoY for 2026) than Nutrien.
NTR · Capital · Negative Nutrien trades at a higher valuation (forward P/E 11.17) and has lower earnings growth projections (31.4% YoY for 2026) compared to CF Industries.
CF Industries Earns Zacks Rank #2 and Value Grade of A
CF Industries currently holds a Zacks Rank #2 (Buy) and a Value grade of A, signaling it may be undervalued. The stock has a PEG ratio of 0.39, well below its industry average of 0.69, and a P/B ratio of 1.84 compared to the industry average of 2.21. Its P/CF ratio stands at 6.29, which is attractive relative to the industry average of 8.81. These metrics, combined with a strong earnings outlook, suggest CF Industries is a compelling value stock at this time.
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