Welcome to our dedicated page for CVR ENERGY news (Ticker: CVI), a resource for investors and traders seeking the latest updates and insights on CVR ENERGY stock.
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. (CVI) has appointed Dane Neumann as Executive Vice President and Chief Financial Officer, effective October 6, 2021. Neumann, who previously served as Interim CFO and Vice President of Finance & Treasurer, brings extensive experience in the refining and nitrogen fertilizer sectors. He has been with the company since 2018, holding various finance roles. CEO Dave Lamp praised Neumann's qualifications and expertise, indicating his leadership will be valuable for the company's financial functions.
CVR Energy reported a net loss of $6 million, or 6 cents per diluted share, on net sales of $1.8 billion in Q2 2021, compared to a loss of $5 million on $675 million sales in Q2 2020. EBITDA rose to $102 million from $68 million year-over-year. The Petroleum Segment faced a $20 million operating loss, impacted by high RIN pricing and lower refining margins. Conversely, the Nitrogen Fertilizer Segment saw an operating income of $30 million, bolstered by a 44% increase in UAN prices. The company paid a special dividend of $492 million, including cash and Delek US stock.
CVR Energy (NYSE: CVI) has rescheduled its second quarter 2021 earnings conference call to 3 p.m. Eastern on August 3, 2021. The earnings results will be publicly released on August 2, post-market closure. Investors can join the live webcast via CVR Energy’s Investor Relations page. The archived call will be available for 14 days after the event. The company's diversified operations include petroleum refining and nitrogen fertilizer manufacturing.
CVR Energy (CVI) will release its Q2 2021 earnings on August 2, 2021, after NYSE trading hours. A teleconference to discuss the results is scheduled for August 3, 2021, at 1 p.m. ET. Investors can access the live webcast via the Investor Relations section of the company's website. The earnings news release will be distributed through GlobeNewswire and available on the company's site. CVR Energy operates in petroleum refining and fertilizer manufacturing, holding a significant interest in CVR Partners.
CVR Energy has announced a special dividend totaling $492 million, effective on June 10, 2021. This includes a Cash Distribution of approximately $242 million, translating to $2.40 per share for its common stockholders, alongside a Stock Distribution of 10,539,880 shares of Delek US Holdings, representing about 14.3% of Delek's outstanding shares. The ex-dividend date is set for June 11, 2021. Stockholders on the Record Date of May 26, 2021, will receive a pro rata distribution, while fractional shares will be compensated in cash.
CVR Energy announced a special dividend of $492 million, payable on June 10, 2021. Shareholders will receive a distribution of 0.1048 of a share of Delek US Holdings, Inc. stock for each share of CVR Energy held as of May 26, 2021. The company will provide cash for any fractional shares not issued. No action is required from shareholders to receive this dividend, and tax implications should be discussed with advisors. Further details will be available on CVR Energy's website.
CVR Energy announced a strategic shift towards renewable fuels, discontinuing efforts to acquire another crude oil refinery. The Board approved up to $10 million for renewable diesel projects at its Coffeyville and Wynnewood refineries. A significant special dividend of $492 million will be distributed to shareholders on June 10, 2021, as stockholders of record on May 26, 2021. This dividend aims to enhance shareholder value by monetizing gains from Delek US Holdings. The focus on sustainability and shareholder returns indicates a proactive management approach.
CVR Energy reported a net loss of $39 million, or 39 cents per share, on net sales of $1.5 billion for Q1 2021, improving from a $87 million loss in Q1 2020. EBITDA was less than $1 million, compared to a loss of $38 million last year. The Petroleum Segment saw an operating loss of $115 million despite increased refining margins and throughput. The Nitrogen Fertilizer Segment faced a $14 million loss, with mixed pricing trends. CVR's cash reserves grew to $707 million, but no dividends will be paid this quarter.
CVR Energy (NYSE: CVI) will release its Q1 2021 earnings results on May 3, post-market close. A conference call to discuss the results is scheduled for May 4 at 1 p.m. Eastern, accessible via the Investor Relations section of CVR Energy's website. This call will include forward-looking information and will be archived for 14 days. CVR Energy, headquartered in Sugar Land, Texas, operates in petroleum refining and nitrogen fertilizer manufacturing, with interests in CVR Refining and CVR Partners, LP.
CVR Energy, Inc. announced its definitive proxy statement for the Annual Meeting of Delek US Holdings, Inc., scheduled for May 6, 2021. As the largest shareholder of Delek with a 14.8% stake, CVR has nominated three candidates for election to Delek's board: Randall D. Balhorn, George J. Damiris, and Robert Edward Kent, Jr.. CVR believes a change in board composition is necessary to operate in the best interests of all Delek stockholders. Stockholders can revoke their previous proxies by submitting a new GOLD proxy card.
FAQ
What is the current stock price of CVR ENERGY (CVI)?
What is the market cap of CVR ENERGY (CVI)?
What industries does CVR Energy, Inc. operate in?
Where is CVR Energy, Inc. headquartered?
What are the primary subsidiaries of CVR Energy, Inc.?
How does CVR Energy, Inc. distribute its refined products?
What types of crude oil can CVR Energy's refineries process?
Who are the main customers of CVR Energy, Inc.?
What recent achievement highlights CVR Energy's performance?
How many employees does CVR Energy, Inc. have?
What was CVR Energy’s net sales revenue in 2012?
Where can investors find more information about CVR Energy, Inc.?
