CVR Energy, Inc. reports operating and financial developments tied to its petroleum refining business and its nitrogen fertilizer interests. The company operates through subsidiaries that include complex full-coking refineries, crude oil gathering, pipeline and storage assets, and marketing and supply activities. Its refineries process crude oil blends and sell refined products to nearby customers and throughput terminals, including retailers, railroads and farm cooperatives.
Recurring updates cover refinery operations, derivative and crack-spread exposure, dividends, debt and capital-allocation actions, and the nitrogen fertilizer segment associated with CVR Partners, LP. Company news also addresses UAN solution and industrial raw material production, distributions by CVR Partners, planned turnarounds, and the completed return of the Wynnewood refinery renewable diesel unit to hydrocarbon processing.
CVR Energy (NYSE: CVI) priced its previously announced underwritten public offering of common stock at $47.55 per share. The offering comprises 10,515,248 shares, with a 30-day underwriter option for up to 1,577,287 additional shares. Closing is expected on November 5, 2026, with approximately $490.0 million in expected net proceeds after underwriting discounts and commissions.
The company intends to combine the proceeds with cash and other financing to fund the St. Paul Park and Mandan refinery and related marketing business acquisition from subsidiaries of Marathon Petroleum and MPLX, redeem its 5.750% Senior Notes due 2028, and pay related fees and expenses. The offering and acquisition are not conditioned on each other closing. No selling-stockholder shares are included.
CVR Energy (NYSE: CVI) has launched a proposed underwritten public offering of $750 million of its common stock. The company is offering $500 million, while IEP Energy Holding, an indirect subsidiary of controlling stockholder Icahn Enterprises, is offering $250 million. CVR Energy will receive no proceeds from the selling stockholder's sales.
The company intends to combine its net proceeds with cash on hand and other related financing proceeds to fund the previously announced acquisition of the St. Paul Park and Mandan refineries and related marketing business, redeem its 5.750% Senior Notes due 2028, and pay related fees and expenses. The selling stockholder expects to grant underwriters a 30-day option to purchase up to an additional $112.5 million of shares.
CVR Energy (CVI) reported third-quarter 2026 net income attributable to stockholders of $570 million, up from a year earlier. Earnings per diluted share rose to $5.67 from $3.72, while adjusted EBITDA increased to $582 million from $180 million. Net sales reached $3,281 million versus $1,944 million.
An EPA waiver for Wynnewood’s 2025 renewable-fuel compliance obligation removed approximately $253 million of liabilities. Petroleum net income rose to $746 million from $520 million; Nitrogen Fertilizer posted an $11 million loss versus $43 million income. Operating cash flow increased to $655 million from $163 million.
CVR signed a definitive agreement to acquire Marathon Petroleum’s St. Paul Park and Mandan refineries and related businesses, targeting closing by year-end. It declared a 10-cent quarterly dividend, payable November 23, 2026. Cash totaled $1,278 million at September 30, against $1,781 million of debt and finance leases.
Marathon Petroleum (MPC) and MPLX (MPLX) agreed to sell refineries and related midstream assets to CVR Energy for $4.2 billion. The price includes additional inventory value and is subject to purchase price adjustments. MPC will receive $3.45 billion for the refining assets, excluding inventory, and MPLX will receive $750 million for the midstream assets.
The St. Paul Park, Minnesota, and Mandan, North Dakota, refineries have crude oil capacities of 105 thousand and 72 thousand barrels per calendar day, respectively. Related midstream assets include a crude oil pipeline interest, storage capacity and three terminals. The companies expect closing at the end of 2026, subject to conditions including antitrust clearance. Both companies' relevant boards unanimously approved the transaction.
CVR Energy (NYSE: CVI) agreed to acquire two refineries and a related marketing business from Marathon Petroleum for approximately $4.2 billion. The price excludes net working capital. The St. Paul Park, Minnesota, and Mandan, North Dakota, refineries would increase throughput capacity from approximately 207,000 to approximately 384,000 barrels per day.
CVR expects closing by year-end 2026, subject to regulatory clearance. Funding includes $2.5 billion of committed secured debt, a $500 million controlling-shareholder equity commitment, an $800 million Trafigura equity investment and cash. Nine-month 2026 pro forma earnings per share would have been $7.67 versus $3.73 standalone, excluding approximately $70 million in estimated future annual run-rate synergies. Existing 2028 notes will be redeemed; 2031 and 2034 notes will become secured alongside the new debt.
CVR Energy (CVI) has rescheduled its third quarter 2026 earnings conference call for November 3, 2026, at 10:00 a.m. Eastern. The company plans to release results that day before trading opens on the New York Stock Exchange.
The call will be webcast live through the company's Investor Relations website, where an archived webcast will also be available. A telephone replay will be accessible for seven days.
CVR Energy (NYSE: CVI) plans to release its third quarter 2026 earnings results on November 3, before trading opens. The company will host a results call that day at 1 p.m. Eastern. A live webcast and an archived recording will be available through the Investor Relations section of its website.
CVR Energy (NYSE: CVI) reported second quarter 2026 net loss attributable to stockholders of $3 million (−$0.03 per share) versus a $114 million loss a year earlier, with consolidated net income of $46 million and adjusted EPS of $0.34, up from an adjusted loss of $0.23.
Adjusted EBITDA rose to $209 million from $99 million, driven by improved performance in both segments. The Petroleum segment generated net income of $12 million and adjusted EBITDA of $106 million, with total throughput of 212,965 bpd and adjusted refining margin of $12.43 per barrel.
The Nitrogen Fertilizer segment posted net income of $78 million and EBITDA of $107 million, supported by a 99% ammonia utilization rate and higher gate prices for ammonia ($791/ton) and UAN ($392/ton). Consolidated net sales increased to $2.74 billion from $1.76 billion.
According to CVR Energy, cash and cash equivalents were $737 million and total debt and finance lease obligations were $1.78 billion at June 30, 2026. The Board declared a $0.10 per-share cash dividend, while CVR Partners (NYSE: UAN) declared a $6.08 per-unit cash distribution.
CVR Partners (NYSE: UAN) reported second quarter 2026 net income of $77.5 million, or $7.33 per common unit, on net sales of $202.2 million, compared with net income of $38.8 million, or $3.67 per unit, on sales of $168.6 million a year earlier. EBITDA rose to $107.1 million from $67.2 million. The Partnership achieved a consolidated ammonia utilization rate of 99% and produced 214,000 tons of ammonia and 342,000 tons of UAN.
Average realized gate prices increased to $791/ton for ammonia and $392/ton for UAN, up 33% and 24% year over year. The Board declared a $6.08 per common unit cash distribution for Q2 2026, payable August 17, 2026, to holders of record on August 10, 2026. Cash and equivalents were $137.5 million at June 30, 2026, and Q3 2026 guidance includes an ammonia utilization rate of 75–80% and capital expenditures of $40–$49 million.
CVR Partners (NYSE: UAN), a producer of ammonia and urea ammonium nitrate fertilizer products, plans to release its second quarter 2026 earnings results on Wednesday, July 29, 2026, after the close of trading on the New York Stock Exchange.
The Partnership will hold a teleconference call on Thursday, July 30, 2026, at 11 a.m. Eastern to discuss the results. The call, which will include forward-looking information, will be webcast live via the Investor Relations section of the company’s website at www.CVRPartners.com. Investors and analysts can participate by dialing (800) 715-9871, conference ID 6969200. A replay will be available for seven days at (800) 770-2030, using the same conference ID. The webcast will also be archived on the Investor Relations section of the website, and the earnings news release will be distributed via Business Wire and posted online.