CVR Energy Stock Price, News & Analysis

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.

CVR Energy, Inc. has sent an open letter to Uzi Yemin, Chairman of Delek US Holdings, regarding concerns over his compensation, which totals nearly $54 million from 2013 to 2020, plus an additional $27 million from a 5% stake in Delek's subsidiary. The letter criticizes perceived management blunders at Delek while Yemin's compensation continues to rise. CVR Energy is demanding transparency and access to documents to understand the rationale behind these payments, expressing concerns over the effectiveness of Delek's independent directors. The company threatens legal action if demands are not met.