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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 reported a net income of $93 million for Q3 2022, translating to 92 cents per diluted share, up from $84 million or 83 cents in Q3 2021. Net sales surged to $2.7 billion from $1.9 billion. Adjusted EBITDA rose to $313 million, compared to $99 million in the previous year. The Board approved a 40 cents regular dividend and a special dividend of $1.00 per share, totaling $4.80 year-to-date. However, results were impacted by high Renewable Identification Number costs and a decline in throughput volumes due to plant outages.
CVR Energy, Inc. (NYSE: CVI) will release its third quarter 2022 earnings results on Oct. 31, after market close. A teleconference will follow on Nov. 1 at 1 p.m. Eastern to discuss the earnings, which will include forward-looking information. The call will be accessible via CVR Energy's website, allowing both investors and analysts to participate. CVR Energy is a diversified company involved in renewable fuels, petroleum refining, and nitrogen fertilizer manufacturing through its interest in CVR Partners, LP.
CVR Energy reported a net income of $165 million ($1.64 per diluted share) for Q2 2022, a significant improvement from a $6 million loss in Q2 2021. Net sales reached $3.1 billion, up from $1.8 billion a year prior. Q2 2022 EBITDA was $401 million compared to $102 million in Q2 2021. The company declared a cash dividend of 40 cents per share and a special dividend of $2.60 per share, payable on August 22, 2022. Key drivers included higher diesel crack spreads and nitrogen fertilizer pricing, despite lower refining throughput due to planned refinery maintenance.
CVR Energy, Inc. (NYSE: CVI) is set to announce its Q2 2022 earnings on August 1, following market close. A subsequent teleconference will occur on August 2 at 1 p.m. Eastern, which will include forward-looking statements and be accessible via the company's website. Interested parties can dial in at (877) 407-8291. The earnings release will be available through GlobeNewswire and on CVR Energy's official site.
CVR Energy operates in the renewable fuels and petroleum refining sectors, including involvement in nitrogen fertilizer manufacturing through CVR Partners, LP.
CVR Energy reported a robust first quarter 2022, with net income of $94 million (93 cents per diluted share) on sales of $2.4 billion, a significant recovery from a $39 million loss in Q1 2021. EBITDA reached $278 million, up from under $1 million last year. The company declared a cash dividend of 40 cents per share, payable May 23, 2022. The Petroleum Segment's operating income improved to $130 million due to higher crude prices, while the Nitrogen Fertilizer Segment saw operating income of $104 million. Cash reserves stood at $676 million.
CVR Energy, Inc. (NYSE: CVI) will announce its first quarter 2022 earnings results on May 2, following the close of trading. A teleconference for discussing these results is scheduled for May 3 at 1 p.m. Eastern, with access available via the Investor Relations section of their website. The earnings release will be available through GlobeNewswire and on CVR Energy's website. The company operates in the renewables, petroleum refining, and nitrogen fertilizer markets.
CVR Energy reported a net income of $25 million for 2021, recovering from a net loss of $256 million in 2020. The company's EBITDA reached $462 million, compared to a loss of $7 million the previous year. Despite facing $435 million in RINs expenses, the firm paid a special dividend of approximately $492 million or $4.89 per share. The PETROLEUM segment experienced an operating loss of $27 million for Q4 2021, although refining margins improved significantly. The NITROGEN fertilizer segment showed an operating income of $72 million in Q4 2021, marking a notable recovery.
CVR Energy, Inc. (NYSE: CVI) will release its fourth quarter and full-year 2021 earnings results on February 22, 2022, before the NYSE opens. A teleconference will follow at 1 p.m. Eastern for discussion of the results. The call will feature forward-looking information and be accessible via webcast on the company’s website.
CVR Energy operates in the petroleum refining and marketing sector and has interests in nitrogen fertilizer manufacturing.
CVR Energy reported a net income of $84 million, or 83 cents per diluted share, with net sales of $1.9 billion for Q3 2021, rebounding from a net loss of $96 million in Q3 2020. EBITDA rose to $243 million from a loss of $39 million the previous year. The Petroleum Segment achieved an operating income of $135 million, driven by higher crack spreads and a favorable Renewable Identification Number (RIN) revaluation. The Nitrogen Fertilizer Segment also saw a significant turnaround, reporting $46 million in operating income.
CVR Energy, Inc. (NYSE: CVI) announced its third quarter 2021 earnings release date as November 1, 2021, post-market. A teleconference to discuss results will be held on November 2, 2021, at 1 p.m. Eastern. Investors can access the call via the company’s website or by dialing (877) 407-8291. The earnings release will be available on GlobeNewswire and CVR Energy’s website. The company is involved in petroleum refining and nitrogen fertilizer manufacturing.
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