Cvr Partners Lp Stock Price, News & Analysis

CVR Partners, LP (NYSE: UAN) has appointed Dane Neumann as the new Executive Vice President and Chief Financial Officer as of October 6, 2021. Neumann previously served in interim roles since August 2021 and has been with the company since 2018, holding various financial positions. His expertise in the nitrogen fertilizer sector and financial planning are highlighted as instrumental for the company's future. CVR Partners focuses on producing nitrogen fertilizers, principally urea ammonium nitrate and ammonia, to enhance crop yields.

CVR Partners, LP (NYSE: UAN) announced a partial redemption of $15 million of its 9.250% Senior Secured Notes due 2023, set for September 23, 2021. As of June 30, 2021, $95 million in principal remained on the 2023 Notes. This redemption is a strategic move aimed at managing debt obligations. The company emphasizes its operational focus on nitrogen fertilizer products, primarily urea ammonium nitrate and ammonia, used for enhancing crop yield and quality.

CVR Partners, LP (NYSE: UAN) announced it will defer the turnaround at its Coffeyville nitrogen fertilizer facility from October 2021 to Q3 2022 due to rising COVID-19 cases and travel restrictions. The estimated turnaround costs of $8 million to $10 million will now occur in 2022, alongside a planned turnaround for the East Dubuque facility. CEO Mark Pytosh emphasized the safety of employees and the opportunity to capitalize on strong ammonia and UAN margins during this period. The company remains vigilant in monitoring market conditions.

CVR Partners, LP (NYSE: UAN) reported a net income of $7 million, or 66 cents per common unit, for Q2 2021, a turnaround from a net loss of $42 million in Q2 2020. The Q2 2021 net sales reached $138 million, up from $105 million a year prior, with EBITDA improving to $51 million from a $2 million loss. Ideal planting conditions and strong nitrogen fertilizer demand drove performance. A cash distribution of $1.72 per unit will be paid on August 23, 2021, marking the first distribution since Q4 2019. The average realized prices for UAN and ammonia rose significantly.

CVR Partners, LP (NYSE: UAN) will release its second quarter 2021 earnings results on August 2, after the market closes. The company will hold a teleconference on August 3 at 11 a.m. Eastern to discuss these results, accessible through their Investor Relations webpage. The company focuses on nitrogen fertilizer production, primarily urea ammonium nitrate (UAN) and ammonia, to support agricultural yield. Their facilities in Kansas and Illinois have substantial production capabilities, including a 1,300 ton-per-day ammonia unit.

CVR Partners has announced the pricing of a $550 million private placement of 6.125% senior secured notes due in 2028. The offering will close on June 23, 2021, and proceeds will be used to partially redeem the company's outstanding 9.250% senior secured notes due in 2023. The securities will be sold under Rule 144A and Regulation S of the Securities Act and are not registered under applicable securities laws, limiting their sale to qualified institutional buyers and outside the U.S.

CVR Partners, LP (NYSE: UAN) announced plans to offer $550 million in senior secured notes due 2028, pending market conditions. The funds will partially redeem existing 9.250% Senior Secured Notes due 2023, totaling $645 million as of March 31, 2021. The redemption is conditioned on the successful placement of the new notes. The offering is limited to qualified buyers under Rule 144A and Regulation S of the Securities Act, and the securities are not registered for public sale.

CVR Partners, LP (NYSE: UAN) reported a net loss of $25 million ($2.37 per unit) for Q1 2021, a drop from a $21 million loss a year prior on $61 million sales, down from $75 million. EBITDA decreased to $5 million from $11 million. The winter storm Uri impacted shipments, yet the Coffeyville facility maintained operations. Average UAN prices fell 4% to $159 per ton, while ammonia rose 14% to $300 per ton. The partnership initiated a $10 million unit repurchase program and will not distribute cash for Q1 2021, with future distributions dependent on operational performance.

CVR Partners, LP (UAN) plans to release its first quarter 2021 earnings results on May 3, 2021, after market close. The company will host a teleconference on May 4 at 11 a.m. Eastern to discuss these results, which will include forward-looking information. Investors can access the call via the company’s website or by dialing (877) 407-8029. The news release will be distributed via GlobeNewswire and posted on the company’s website.