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) generates a steady flow of news related to its petroleum refining, renewable fuels and nitrogen fertilizer activities. Headquartered in Sugar Land, Texas, the company reports on the performance of its Petroleum, Renewables and Nitrogen Fertilizer segments, as well as its economic interest in CVR Partners, LP, a producer and marketer of urea ammonium nitrate (UAN) and ammonia fertilizer products.
News for CVR Energy often centers on quarterly financial results, where the company discusses net income or loss, EBITDA, adjusted EBITDA and segment-level performance. These releases highlight refining margins, crack spreads, throughput levels and the impact of Renewable Fuel Standard (RFS) compliance costs and Renewable Identification Number (RIN) obligations on the Petroleum Segment. Updates on the Renewables Segment include renewable diesel unit throughput, margins and decisions such as the planned reversion of the Wynnewood renewable diesel unit back to hydrocarbon processing service.
Investors following CVI news will also see coverage of capital allocation and balance sheet actions, including prepayments on the senior secured term loan facility and preliminary capital spending plans by segment. Regulatory and policy developments, such as the U.S. Environmental Protection Agency’s decisions on small refinery exemptions for CVR Energy’s Wynnewood Refining Company, are another recurring topic and can have a material effect on reported results.
Because CVR Energy’s nitrogen fertilizer activities are tied to CVR Partners, news items also reference ammonia and UAN production volumes, utilization rates, realized gate prices and cash distributions declared by CVR Partners. Readers can use this news feed to review historical earnings announcements, capital spending guidance, leadership changes and key regulatory updates that shape the outlook for CVR Energy and its related fertilizer operations.
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.