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Sep 30, 2020
CVR Energy Q3 2020 Earnings Report
CVR Energy reported a net loss for Q3 2020 due to narrow crack spreads and high RIN pricing, but reduced operating expenses and saw strong fertilizer production.
Key Takeaways
CVR Energy reported a net loss of $96 million for the third quarter of 2020, compared to a net income of $119 million for the same period in 2019. Net sales were $1.0 billion, down from $1.6 billion in the prior year. The company focused on reducing operating expenses and saw strong production in the nitrogen fertilizer segment.
Net loss of $96 million, or 96 cents per diluted share.
Net sales of $1.0 billion.
Petroleum segment reported an operating loss of $39 million.
Nitrogen Fertilizer segment reported an operating loss of $3 million.
Revenue by Segment
Forward Guidance
The table below summarizes our outlook for certain operational statistics and financial information for the fourth quarter of 2020.
Positive Outlook
- Ammonia utilization rates (1) Consolidated 95 % 100 %
- Ammonia utilization rates (1) Coffeyville 95 % 100 %
- Ammonia utilization rates (1) East Dubuque 95 % 100 %
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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