CVR Energy Stock Price, News & Analysis

CVR Energy, Inc. (NYSE: CVI) will release its fourth quarter and full-year 2020 earnings on February 22, post-market close. A teleconference is scheduled for February 23 at 1 p.m. Eastern to discuss the results, which will be available live on the company's website. Investors can access the earnings release via GlobeNewswire and the company's official site. CVR Energy focuses on petroleum refining and nitrogen fertilizer manufacturing, holding significant interests in CVR Refining and CVR Partners.

CVR Energy (NYSE: CVI) has received Board approval for its Wynnewood renewable diesel project, which will convert a hydrocracker unit to produce nearly 100 million gallons of renewable diesel and over 6 million gallons of renewable naphtha annually. The project, estimated to cost $110 million, aims to reduce RIN exposure under the Renewable Fuel Standard. Completion is anticipated by mid-2021, with expected RIN generation of 170-180 million annually, lowering net RIN purchases to under 80 million.

CVR Energy, Inc. (NYSE: CVI) will present at the Bank of America 2020 Leveraged Finance Virtual Conference on December 1, 2020, at 9 a.m. Eastern. The live webcast and accompanying slides will be accessible via their Investor Relations website, with an archive available for 90 days. CVR Energy is engaged in petroleum refining and nitrogen fertilizer manufacturing, with interests in CVR Refining and CVR Partners. The company is headquartered in Sugar Land, Texas.

CVR Energy (CVI) reported a net loss of $96 million for Q3 2020, a stark decline from a net income of $119 million in Q3 2019, amid significant market challenges. Net sales fell to $1.0 billion from $1.6 billion year-over-year. EBITDA also dropped to a loss of $39 million from a profit of $235 million. Key factors were decreases in refining margin and total throughput. However, the company is focused on reducing expenses and enhancing cash reserves. The Nitrogen Fertilizer Segment saw improved production, although average product prices declined significantly.

CVR Energy (NYSE: CVI) will announce its third quarter 2020 financial results on November 2, post-market. A follow-up teleconference is scheduled for November 3 at 1 p.m. ET to discuss these results. The call will include forward-looking information and will be available for live streaming on the company's Investor Relations website. An archived version will be accessible for 14 days. CVR Energy operates primarily in petroleum refining and marketing, alongside nitrogen fertilizer manufacturing through its subsidiary CVR Partners, LP.

CVR Energy (NYSE: CVI) announced a virtual presentation at the Barclays CEO Energy-Power Conference on September 10, 2020, scheduled for 11:05 a.m. Eastern Time. The presentation will be available for live streaming on the Investor Relations section of CVR Energy’s website, along with accompanying slides. The archived webcast will be accessible for 14 days post-event. CVR Energy operates in petroleum refining and nitrogen fertilizer manufacturing, holding a 34% interest in CVR Partners.

CVR Energy reported a net loss of $5 million (5 cents per diluted share) for Q2 2020, attributed to a $41 million goodwill impairment in its Nitrogen Fertilizer Segment. This contrasts with a net income of $116 million for Q2 2019. Net sales were $675 million, down from $1.7 billion a year prior, with EBITDA falling to $68 million from $273 million. The Petroleum Segment's operating income dropped to $5 million, and the Nitrogen Fertilizer Segment reported an operating loss of $26 million. The company aims to focus on cash flow and cost management.

CVR Energy (NYSE: CVI) will release its second quarter 2020 results on August 3 after market close, followed by a teleconference on August 4 at 1 p.m. Eastern. This call will feature forward-looking statements and will be accessible via the investor relations section of CVR Energy’s website. Investors can also participate by dialing in. The earnings release will be distributed through GlobeNewswire and available on the company’s website.

CVR Energy reported a net loss of $87 million for Q1 2020, translating to 87 cents per diluted share, compared to a net income of $101 million in Q1 2019. Total net sales decreased to $1.1 billion from $1.5 billion a year earlier. EBITDA was negative $38 million, reflecting the impact of the global crude oil price war and COVID-19. The Board declared a dividend of 40 cents per share, reducing it to conserve cash. Total throughput dropped to 157,000 barrels per day from 213,000 bpd.