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CVR Energy, Inc. (NYSE: CVI) is a diversified holding company with a primary focus on petroleum refining and nitrogen fertilizer manufacturing. Headquartered in Sugar Land, Texas, the company conducts its operations through its subsidiaries, CVR Refining, LP, and CVR Partners, LP. As the general partner and majority owner of these subsidiaries, CVR Energy manages complex full-coking crude oil refineries, an extensive crude oil gathering system, pipelines, storage tanks, and a marketing and supply network.
CVR Energy's refineries are capable of processing various types of crude oil, from heavy sour to light sweet. The crude oil is supplied through the company’s own gathering system and pipeline, ensuring a steady and reliable feedstock. The refined products are distributed to customers, including retailers, railroads, and farm cooperatives, via tanker trucks and throughput terminals.
The company’s dedication to operational excellence is evident in its commitment to safe, reliable, and environmentally responsible practices. Recent significant achievements include a notable position as No. 2 on the 2013 Houston Chronicle Top 100 Public Companies list and generating $8.6 billion in net sales revenue in 2012. Furthermore, CVR Energy employs approximately 1,200 people, all of whom contribute to its robust performance and value creation for stockholders.
In the nitrogen fertilizer segment, CVR Partners, LP, leverages state-of-the-art facilities to produce high-quality nitrogen fertilizer products. This segment is integral to the agriculture industry, providing essential nutrients to enhance crop yields.
CVR Energy maintains strong financial health, demonstrated by its strategic investments and sustainable growth initiatives. The company’s financial statements reflect a balanced approach to debt management and capital allocation, ensuring long-term stability and profitability.
For more information, please visit the Investor Relations section of CVR Energy's website or contact their media and investor relations teams.
CVR Energy, Inc. (NYSE: CVI) is set to announce its first quarter 2023 earnings on May 1, 2023, following the close of trading. A teleconference to discuss these results will be held on May 2 at 1 p.m. Eastern, accessible via the company's website. Investors can participate by calling (877) 407-8291. The earnings release will be published through GlobeNewswire and available on CVR Energy's website.
CVR Energy operates in the renewable fuels and petroleum refining sectors and is involved in nitrogen fertilizer production through its stake in CVR Partners, LP. The company holds a 37% ownership of CVR Partners’ common units, positioning it well in the energy and agriculture sectors.
CVR Energy reported a strong financial performance for 2022, with net income of $463 million and EBITDA of $1.2 billion. The Company achieved a 50% reduction in its total recordable incident rate compared to 2021, signifying improved operational safety. A quarterly cash dividend of 50 cents was increased for Q4 2022, resulting in cumulative dividends of $5.30 for the year. Strong results were attributed to heightened crack spreads driven by tight inventories. The fourth quarter saw a net income of $112 million on sales of $2.7 billion, significantly up from a loss in Q4 2021. CVR Partners also delivered strong cash distributions, reinforcing a total return to shareholders of 115% for 2022.
CVR Energy, Inc. (NYSE: CVI) is set to release its fourth quarter and full-year 2022 earnings results on February 21, 2023, after market close. The company will also hold a teleconference on February 22 at 1 p.m. Eastern to discuss the results. Interested parties can access the call via webcast on the company's Investor Relations website or by phone at (877) 407-8291. Following the call, an archived version will be available for 14 days. CVR Energy operates in renewable fuels and petroleum refining, along with nitrogen fertilizer manufacturing through CVR Partners, LP, of which it owns 37% of common units.
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