CF Industries Holdings, Inc. reported unaudited consolidated earnings and production results for the first quarter ended March 31, 2018. For the first quarter 2018 net earnings attributable to common stockholders of $63 million, or $0.27 per diluted share; EBITDA of $302 million; and adjusted EBITDA of $296 million. These results compare to first quarter 2017 net loss attributable to common stockholders of $23 million, or $0.10 per diluted share; EBITDA of $218 million; and adjusted EBITDA of $272 million. Net sales in the first quarter of 2018 decreased to $957 million from $1,037 million in the same period last year due to lower sales volumes across most segments partially offset by higher average selling prices across most segments. Total sales volumes for the quarter were lower compared to the first quarter of 2017 due to unfavorable weather that delayed the start of the spring application season across the Northern Hemisphere. Capital expenditures was $68 million against $94 million a year ago. Earnings before income taxes was $105 million against loss before income taxes of $23 million a year ago. Net cash provided by operating activities was $282 million against $356 million a year ago. Additions to property, plant and equipment was $68 million against $94 million a year ago.

For the quarter, the company produced Gross ammonia production during the first quarter of 2018 was more than 2.5 million tons, equal to production during the first quarter of 2017. The company produced Granular urea of 1,151,000 tons against 1,002,000 tons a year ago. The company produced UAN of 1,805,000 tons against 11,817,000 tons a year ago. The company produced AN of 458,000 tons against 542,000 tons a year ago

Capital expenditures in 2018 for new activity are estimated to be in the range of approximately $400 to $450 million, which takes into account a higher number of scheduled plant turnarounds in 2018 compared to 2017.