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) occupies a distinctive position in the energy sector, operating at the intersection of petroleum refining and agricultural chemicals. This dual focus creates a news flow that spans two different commodity markets—refined fuels and nitrogen fertilizers—each driven by distinct supply and demand dynamics. Investors following CVI encounter a company whose fortunes depend on crack spreads in the refining business and fertilizer pricing influenced by agricultural cycles and natural gas costs.
News coverage for CVR Energy typically reflects the cyclical nature of its industries. Quarterly and annual earnings releases provide insight into how refining margins and fertilizer prices affected results during each period. The company's midcontinent operations mean that regional crude oil price differentials and agricultural demand in the American heartland feature prominently in its business developments.
The master limited partnership structure adds another dimension to CVR Energy news. As the general partner and majority owner of CVR Refining and CVR Partners, developments at either partnership can affect the parent company. Distribution announcements, capital allocation decisions, and operational updates from the underlying partnerships all generate news relevant to CVI shareholders.
Regulatory developments frequently appear in CVR Energy coverage. Small refinery exemptions under renewable fuel standards, environmental compliance matters, and energy policy changes can materially affect the company's refining operations. The fertilizer business may see news related to agricultural trade policy, nitrogen fertilizer market conditions, and production economics.
Bookmark this page to track CVR Energy developments across its petroleum and fertilizer operations. Understanding news from both business segments provides context for evaluating this midcontinent energy and agricultural chemicals company.
CVR Energy (NYSE: CVI) has scheduled the release of its first quarter 2025 earnings results on Monday, April 28, 2025, after the NYSE trading hours. The company will host a teleconference call the following day, Tuesday, April 29, at 1 p.m. Eastern to discuss the results.
Investors and analysts can participate in the call using the dial-in number (877) 407-8291. The webcast will be available on CVR Energy's Investor Relations website and archived for 14 days at the provided media server link. A replay of the call will be accessible for 14 days by dialing (877) 660-6853 with conference ID 13752979.
CVR Energy (NYSE: CVI) reported full-year 2024 net income of $7 million ($0.06 per diluted share) and EBITDA of $394 million, a significant decrease from 2023's net income of $769 million ($7.65 per diluted share) and EBITDA of $1.4 billion. The company paid $1.00 per share in cumulative cash dividends for 2024.
Fourth quarter 2024 results showed net income of $28 million ($0.28 per diluted share), down from $91 million in Q4 2023. The Petroleum Segment's performance declined due to reduced crack spreads and decreased throughput. The Renewables Segment reported a Q4 net loss of $3 million, while the Nitrogen Fertilizer Segment achieved net income of $18 million.
The company enhanced its liquidity by $408 million through a Term Loan and the sale of its 50% interest in Midway Pipeline. Consolidated cash position stood at $987 million with total debt of $1.9 billion as of December 31, 2024.
CVR Energy (NYSE: CVI) has announced it will release its fourth quarter and full-year 2024 earnings results on Tuesday, February 18, 2025, after the New York Stock Exchange trading hours. The company will follow up with a teleconference call on Wednesday, February 19, at 1 p.m. Eastern to discuss the results.
CVR Energy (NYSE: CVI) has initiated its planned turnaround at its Coffeyville, Kansas refinery following damage to its Naphtha Hydrotreater on January 21, 2025, which occurred during freezing weather conditions. The company plans to provide additional updates about the turnaround during its upcoming earnings conference call.
Icahn Enterprises L.P. (NASDAQ: IEP) and Icahn Enterprises Holdings L.P. have announced the completion of IEH's cash tender offer for CVR Energy (NYSE: CVI) shares. The tender offer, which expired on January 8, 2025, sought to purchase up to 17,753,322 shares at $18.25 per share.
The final results showed that approximately 878,212 shares were properly tendered and not withdrawn. IEH will accept all tendered shares for payment, representing about 0.9% of CVR Energy's outstanding common stock, for a total purchase price of approximately $16 million. The depositary agent, Broadridge Corporate Issuer Solutions, , will promptly process payments for the accepted shares.
Icahn Enterprises L.P. (IEP) and Icahn Enterprises Holdings L.P. have extended their cash tender offer for up to 17,753,322 shares of CVR Energy (CVI) common stock. The offer price remains at $18.25 per share, with the deadline extended from January 6, 2025, to 5:00 p.m., New York City time, on January 8, 2025.
As of 6:00 p.m. on January 6, 2025, approximately 960,479 shares have been tendered, including 700,244 shares tendered by guaranteed delivery. The companies stated they do not intend to further extend the offer period or modify any other terms and conditions. Neither the companies involved nor their agents are making recommendations to stockholders regarding the tender offer.
CVR Energy (NYSE: CVI) has priced a $325 million senior secured term loan B facility due 2027, bearing interest at SOFR plus 4.0%. The loan proceeds will primarily fund capital expenditures, including the planned 2025 Coffeyville refinery turnaround. The company is also negotiating the potential sale of a midstream asset for under $100 million to enhance liquidity.
The company announced its 2025 capital expenditure outlook, with total spending projected between $165-205 million, excluding turnaround expenditures of $170-190 million for the Coffeyville refinery. The outlook includes maintenance spending of $108-132 million and growth capital of $57-73 million across Petroleum, Nitrogen Fertilizer, and Other segments.
Additionally, Dave Lamp has signed a new employment agreement as President and CEO, extending from January 2025 through December 2026.
Icahn Enterprises (IEP) and Icahn Enterprises Holdings (IEH) have launched a cash tender offer for up to 17,753,322 shares of CVR Energy (CVI) common stock at $18.25 per share. This represents a 10.5% premium over CVR Energy's November 7, 2024 closing price of $16.52. IEH currently owns about 66% of CVR Energy's shares and could increase its ownership to approximately 84% if the tender offer is fully subscribed.
The offer expires on January 6, 2025, and is subject to various terms and conditions detailed in the Offer to Purchase. The Special Committee of CVR Energy has chosen to remain neutral regarding the offer. If oversubscribed, shares will be purchased on a pro rata basis.
CVR Energy reported a third quarter 2024 net loss of $124 million ($1.24 per diluted share) and EBITDA loss of $35 million, compared to net income of $353 million in Q3 2023. The Petroleum Segment saw reduced throughput of 189,000 bpd and a refining margin of $44 million. The Nitrogen Fertilizer Segment reported net income of $4 million with combined ammonia production of 212,000 tons. The company suspended its quarterly dividend due to concerns about margin environment and planned turnaround at Coffeyville refinery. CVR Partners declared a cash distribution of $1.19 per common unit.
CVR Energy, Inc. (NYSE: CVI) has announced its plans to release its third quarter 2024 earnings results on Monday, October 28, after the close of trading on the New York Stock Exchange. Following the release, the company will host a teleconference call on Tuesday, October 29, at 1 p.m. Eastern to discuss the results. This announcement provides shareholders and interested parties with the opportunity to gain insights into CVR Energy's financial performance for the third quarter of 2024.
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