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Mar 31, 2023
CVR Energy Q1 2023 Earnings Report
CVR Energy reported solid results for Q1 2023, driven by strong diesel and improved gasoline cracks in the Petroleum Segment and record production in the Nitrogen Fertilizer Segment, offset by lower fertilizer pricing.
Key Takeaways
CVR Energy announced net income of $195 million, or $1.94 per diluted share, on net sales of $2.3 billion for the first quarter of 2023. The Petroleum Segment's results were driven by strong diesel and improved gasoline cracks, while the Nitrogen Fertilizer Segment achieved strong results due to record production, despite lower fertilizer pricing.
CVR Energy reported a net income of $195 million, or $1.94 per diluted share.
Petroleum Segment's operating income was $237 million with refining margin per total throughput barrel at $23.24.
Nitrogen Fertilizer Segment reported an operating income of $109 million.
CVR Energy announced a first quarter 2023 cash dividend of 50 cents per share.
Revenue by Segment
Forward Guidance
The table summarizes the company's outlook for certain operational statistics and financial information for the second quarter of 2023.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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