The financials
CF Industries by the numbers
CF Industries (CF) reported revenue of $1.99B in Q1 2026 (quarter ended March 31, 2026), up 19% from the same quarter a year earlier. That came with a gross margin of 38% and net income of $676M (34% of revenue). For the full year FY2025, revenue was $7.08B (+19% year on year) and net income $1.80B. Its largest segment in 2026-Q1 was Urea at $590M, 32% of the disclosed total, just ahead of UAN at 30%.
| Income statement | Q1 2026 | Q1 2025 | Change |
|---|---|---|---|
| Revenue | $1.99B | $1.66B | +19% |
| Gross profit | $746M | $572M | +30% |
| Operating income | $863M | $455M | +90% |
| Net income | $676M | $351M | +93% |
| Diluted EPS | $3.98 | $1.85 | +115% |
| Operating | Revenue | Share |
|---|---|---|
| Urea | $590M | 32% |
| UAN | $552M | 30% |
| Ammonia | $475M | 26% |
| Other Products | $128M | 6.9% |
| All Other | $106M | 5.7% |
| Ammonium Nitrate | $1.0M | 0.1% |
Business Segments
Revenue split by operating segment, from SEC XBRL filings.
Latest period: Q1 2026Total $1.85B (+26%)
UAN grew +35% year on yearAmmonium Nitrate -98% year on year
Segment Latestquarter on quarteryear on year
- Urea$590.0M$590.0MQoQ +39%year on year +34%+39%+34%
- UAN$552.0M$552.0MQoQ +36%year on year +35%+36%+35%
- Ammonia$475.0M$475.0MQoQ +44%year on year +30%+44%+30%
- Other Products$128.0M$128.0MQoQ -8.6%year on year -3.8%-8.6%-3.8%
- All Other$106.0M$106.0MQoQ -12%year on year -6.2%-12%-6.2%
- Ammonium Nitrate$1.0M$1.0MQoQ -98%year on year -98%-98%-98%
Agricultural Inputs
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