Loading...
•
Mar 31, 2024
CVR Energy Q1 2024 Earnings Report
CVR Energy's financial performance decreased in Q1 2024 compared to the previous year, with lower net income and adjusted earnings, but was supported by lower RINs expense and higher crude oil and refined product prices.
Key Takeaways
CVR Energy reported a decrease in net income attributable to CVR Energy stockholders to $82 million, or $0.81 per diluted share, on net sales of $1.9 billion for Q1 2024, compared to $195 million, or $1.94 per diluted share, on net sales of $2.3 billion for Q1 2023. Adjusted earnings for the first quarter of 2024 was 4 cents per diluted share compared to adjusted earnings of $1.44 per diluted share in the first quarter of 2023.
Net income attributable to CVR Energy stockholders decreased to $82 million, or $0.81 per diluted share.
Net sales decreased to $1.9 billion.
Adjusted earnings decreased to 4 cents per diluted share.
CVR Energy announced a regular first quarter 2024 cash dividend of 50 cents per share.
Revenue by Segment
Forward Guidance
The second quarter of 2024 outlook for our petroleum and renewables businesses is not being provided due to the undetermined impact of a fire that commenced at the Wynnewood Refinery during severe weather in the early morning hours of April 28, 2024, which fire was extinguished later that morning.
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
Loading earnings performance data...
Loading earnings reaction data...