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Jun 30, 2021
CVR Energy Q2 2021 Earnings Report
CVR Energy reported a net loss of $6 million on net sales of $1.8 billion for the second quarter of 2021.
Key Takeaways
CVR Energy reported a net loss of $6 million, or 6 cents per diluted share, on net sales of $1.8 billion for the second quarter of 2021. The Petroleum Segment's results were highlighted by higher throughput volumes, increased crude oil pricing and widening crack spreads, but were offset by high RIN pricing. CVR Partners experienced a solid quarter with a combined ammonia utilization rate of 98 percent.
Net loss of $6 million, or 6 cents per diluted share.
Net sales of $1.8 billion.
EBITDA was $102 million.
Special dividend of $492 million was paid to stockholders.
Revenue by Segment
Forward Guidance
The table below summarizes our outlook for certain operational statistics and financial information for the third quarter of 2021.
Positive Outlook
- Petroleum Segment Total throughput between 190,000 and 210,000 bpd
- Nitrogen Fertilizer Segment Ammonia utilization rates between 95% and 100%
- Coffeyville Facility Ammonia utilization rates between 95% and 100%
- East Dubuque Facility Ammonia utilization rates between 95% and 100%
- Renewables capital expenditure between $18 and $22 million
Challenges Ahead
- Petroleum Segment Direct operating expenses between $75 and $85 million
- Nitrogen Fertilizer Segment Direct operating expenses between $38 and $43 million
- Petroleum capital expenditure between $18 and $24 million
- Nitrogen Fertilizer capital expenditure between $9 and $12 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
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