CF Industries optimistic for 2013 after record-high 4Q profit - KTIV News 4 Sioux City IA: News, Weather and Sports

CF Industries optimistic for 2013 after record-high fourth-quarter profit

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By Ross Caniglia, Multimedia Journalist/ Weekend Meteorologist - bio | email
CF Industries is optimistic for 2013, after reporting a record-high fourth-quarter profit for 2012. CF Industries is optimistic for 2013, after reporting a record-high fourth-quarter profit for 2012.
NEAR SALIX, Iowa (KTIV) -

CF Industries is optimistic for 2013, after reporting a record-high fourth-quarter profit for 2012.

CF, which is the world's second-largest producer of nitrogen fertilizer, reported net earnings for the quarter rose to $470.7 million, or $7.40 per share.

That's more than the $6.95 a share that was expected.

With nitrogen in high demand, CF Industries expects another profitable year in 2013.

"We expect U.S. farmers to plant 97-million acres of corn. This should result in strong domestic demand for nitrogen in all its forms," said Steve Wilson, Chairman and Chief Executive Officer.

Besides a hopeful increase in revenue, CF Industries will be expanding at its Port Neal location at a cost of $1.7 billion.

Construction is expected to start this summer.

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