Company: CF
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001324404-25-000030
Chunk: 145

Company: CF Industries Holdings, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 145
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 our solid nitrogen fertilizers. Granular urea is produced at our Donaldsonville, Port Neal and Medicine Hat complexes.

The following table presents summary operating data for our Granular Urea segment: 

 Three Months Ended September 30,Nine Months Ended September 30, 202520242025 v. 2024202520242025 v. 2024 (dollars in millions, except per ton amounts)Net sales$423 $388 $35 9 %$1,409 $1,252 $157 13 %Cost of sales210 228 (18)(8)%744 711 33 5 %Gross margin$213 $160 $53 33 %$665 $541 $124 23 %Gross margin percentage50.4 %41.2 %9.2 %47.2 %43.2 %4.0 %Sales volume by product tons (000s)939 1,177 (238)(20)%3,252 3,520 (268)(8)%Sales volume by nutrient tons (000s)(1)431 541 (110)(20)%1,496 1,619 (123)(8)%Average selling price per product ton$450 $330 $120 36 %$433 $356 $77 22 %Average selling price per nutrient ton(1)$981 $717 $264 37 %$942 $773 $169 22 %Gross margin per product ton$227 $136 $91 67 %$204 $154 $50 32 %Gross margin per nutrient ton(1)$494 $296 $198 67 %$445 $334 $111 33 %Depreciation and amortization$58 $73 $(15)(21)%$201 $218 $(17)(8)%Unrealized net mark-to-market gain on natural gas derivatives$— $— $— — %$— $(9)$9 100 %

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(1)Granular urea represents 46% nitrogen content. Nutrient tons represent the tons of nitrogen within the product tons.

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Third Quarter of 2025 Compared to Third Quarter of 2024