CF Industries (CF) stated that it recorded the highest sales volume in the company’s history during 1Q17 of 4.8 million tons. Year-over-year, the sales volume rose 17%, which was much higher than the five-year annual average quarterly growth of 8%. Let’s look at segmental sales volumes below.
Out of the total 4.8 million tons, about 39% of the shipment volume came from the company’s UAN segment. This segment’s sales volume rose 27% year-over-year to 1.9 million tons from 1.5 million tons in 1Q16. The granular urea segment, which contributed 20% towards the total sales volume, rose 4% year-over-year to 0.95 million tons from 0.91 million tons a year ago.
The ammonia segment contributed 19% towards the company’s total sales volume and rose 25% year-over-year to 0.92 million tons from 0.74 million tons in 1Q16. The AN segment contributed 12% to the total sales volume and rose just 2% year-over-year to 0.57 million tons from 0.56 million tons. Lastly, the other segment contributed 9% to the company’s 1Q17 sales and rose 17% year-over-year to 0.45 million tons from 0.39 million tons a year ago.
This growth in shipment volumes resulted from an increase in demand in the domestic as well as the export markets. The stronger sales volume echoes what companies (MOO) such as PotashCorp (POT), Agrium (AGU), and Mosaic (MOS) have seen in their 1Q17 results.