Cf Industries Holdings, Inc. · NYSE:CF
Cf Industries — Q1 2020 Earnings Presentation
9 slides from Cf Industries's earnings presentation, May 13, 2020
Slide 1: 2020 First Quarter Supplemental Materials
1 1 2017 Third Quarter Financial Results November 1, 2017 NYSE: CF 2020 First Quarter Supplemental Materials May 2020 NYSE: CF
Slide 2: Safe harbor statement
2 Safe harbor s tatement All statements in this communication by CF Industries Holdings, Inc. (together with its subsidiaries, the “Company”), other t han those relating to historical facts, are forward - looking statements. Forward - looking statements can generally be identified by their use of te
Slide 3: Note regarding non-GAAP financial measures
3 Note regarding n on - GAAP f inancial m easures The Company reports its financial results in accordance with U.S. generally accepted accounting principles (GAAP). Managemen t b elieves that EBITDA, adjusted EBITDA, free cash flow, free cash flow to adjusted EBITDA conversion, and free cash flow yi
Slide 4: CF valuation more compelling than last time shares traded ~$27
4 CF valuation more c ompelling than last time shares traded ~$27 (1) Source: SXCoal , Bloomberg; anthracite lump (6,800 kcal/kg) average mine mouth price (RMB/metric ton) * exchange rate ($/RMB) * 0.046 gas - equiv alent conversion factor based on caloric content of anthracite coal (2) Source: CRU
Slide 5: CF free cash flow compared with peers
5 (1) Market capitalization is calculated as shares outstanding as of March 31, 2020 for CF Industries, Yara International, Mosaic and Nutrien and as of December 31, 2019 for OCI N.V. multiplied by the closing share price of each company on May 4, 2020; see appendix for the calculation of market cap
Slide 6: CF offers investors industry best free cash flow yield
6 5.7 5.5 7.7 7.9 8.1 0 2 4 6 8 10 16.2% 8.1% 5.7% 8.0% (1.5%) -2% 0% 2% 4% 6% 8% 10% 12% 14% 16% CF YAR MOS NTR OCI CF offers investors industry best free cash flow yield CF YAR MOS NTR OCI EV / Adj. EBITDA (2)(3) FCF Yield (1) (1) Represents LTM free cash flow divided by market value of equity (ma
Slide 7: Appendix
7 Appendix
Slide 8: Non-GAAP: reconciliation of LTM cash from operations to free cash flow and free cash flow yield
8 Non - GAAP: reconciliation of LTM cash from operations to free cash flow and free cash flow yield In millions , except percentages , share price, and ratios CF Yara Mosaic Nutrien OCI Cash provided by operating activities (1) $ 1,491 $ 1,845 $ 1,461 $ 3,654 $ 336 C apital expenditures (391) (1,018
Slide 9: Non-GAAP: reconciliation of net (loss) earnings to EBITDA and adjusted EBITDA
9 Non - GAAP: reconciliation of net (loss) earnings to EBITDA and adjusted EBITDA In millions LTM 2Q 2017 LTM 2Q 2020 Net (loss) earnings $ (273) $ 619 Less: Net earnings attributable to noncontrolling interests (97) (148) Net (loss) earnings attributable to common stockholders (370) 471 Interest ex
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