CF · 8-K · 20260805PR091275

Free Cash Flow and Liquidity

CF Industries Holdings, Inc. · 2026-08-05 · Importance 44 · Surprise 24 · From source text

Q2 2026 trailing-twelve-month cash from operations was $3.0 billion and free cash flow was $1.8 billion. Trailing-twelve-month free cash flow represented 50% of adjusted EBITDA and generated an 11.1% free cash flow yield as of June 30, 2026. First-half 2026 cash and cash equivalents increased from $1.982 billion at year-end 2025 to $2.480 billion. First-half cash uses included $408 million of CF-funded capital expenditures, $201 million of shareholder returns, and $86 million of other cash uses, partly offset by $233 million of Blue Point One joint-venture capital contributions from JERA and Mitsui.

Key facts

• Cash provided by operating activities Q2 2026 LTM: $2,977 million; capital expenditures Q2 2026 LTM: $(1,067) million; contributions from noncontrolling interests Q2 2026 LTM: $289 million resulting in Free Cash Flow Q2 2026 LTM: $1,823 million source
• Includes a net cash inflow of ~$73M associated with Blue Point One JV representing $289M contributions from JERA and Mitsui less Capex funded by JERA and Mitsui of $216M source
• Q2 2026 Adjusted EBITDA: $1.2B source
• Q2 2026 LTM Adjusted EBITDA: $3.7B source
• Q2 2026 LTM Cash from Operations: $3.0B source
• Q2 2026 LTM Free Cash Flow: $1.8B source
• 1H 2026 Adjusted EBITDA: $2,175 million source
• Cash balance at Q4 2025: $1,982 million and 1H 2026 cash: $2,480 million source

Impact estimates