Loading...
•
Jun 30, 2020
CVR Energy Q2 2020 Earnings Report
CVR Energy's results were negatively impacted by narrow crack spreads and tight crude oil differentials, partially offset by a favorable inventory valuation, a strong crude oil contango and realized derivative gains.
Key Takeaways
CVR Energy reported a net loss of $5 million on net sales of $675 million for the second quarter of 2020. The results were negatively impacted by narrow crack spreads and tight crude oil differentials resulting from COVID-19 demand destruction and global crude oil price wars.
Second quarter 2020 net loss was $5 million, or 5 cents per diluted share.
Net sales for the second quarter of 2020 were $675 million.
Second quarter 2020 EBITDA was $68 million.
Completed the planned turnaround at the Coffeyville refinery.
Revenue by Segment
Forward Guidance
The table summarizes the outlook for certain operational statistics and financial information for the third quarter of 2020.
Positive Outlook
- Ammonia utilization rates (Consolidated): 95% - 100%
- Ammonia utilization rates (Coffeyville): 95% - 100%
- Ammonia utilization rates (East Dubuque): 95% - 100%
Challenges Ahead
- Total throughput (bpd): 190,000 - 210,000
- Direct operating expenses: $75 million - $85 million
- Total capital expenditures: $15 million - $25 million
- Direct operating expenses: $37 million - $42 million
- Total capital expenditures: $3 million - $6 million
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...