CF Industries Holdings Inc. (NYSE: CF)

CF Industries is one of the world's largest producers of nitrogen fertilizers, manufacturing ammonia, urea, and other nitrogen products essential for crop production. The company operates some of the largest and most efficient nitrogen production facilities in North America. CF Industries has also positioned itself as a leader in clean hydrogen and ammonia production, leveraging its existing infrastructure for the emerging energy transition market.

CF Industries earns revenue from the sale of nitrogen fertilizer products, with profitability driven by the spread between natural gas input costs and nitrogen fertilizer selling prices. North American natural gas cost advantages give CF a structural margin benefit over European and Asian competitors.

CF Industries was founded in 1946 as Central Farmers Fertilizer Company, a cooperative serving Midwestern farmers. The company converted from a cooperative to a publicly traded corporation in 2005. CF Industries' partnership with Exxon Mobil on a carbon capture and storage project at its Louisiana facility positions it for the clean ammonia opportunity.