Loading...
•
Dec 31, 2025
CVR Energy Q4 2025 Earnings Report
CVR Energy reported its financial results for the fourth quarter and full-year 2025, showing a net loss attributable to stockholders for the quarter but net income for the full year.
Key Takeaways
CVR Energy experienced a net loss of $110 million in Q4 2025, a significant decrease from a net income of $28 million in Q4 2024. However, the full-year 2025 results showed a net income of $27 million, an improvement from $7 million in full-year 2024. The company's refining operations demonstrated strong throughput volumes and attractive crack spreads, while the Renewables Segment was impacted by the reversion of the RDU to hydrocarbon processing and associated accelerated depreciation.
Net loss attributable to CVR Energy stockholders was $110 million for Q4 2025, compared to net income of $28 million for Q4 2024.
Full-year 2025 net income attributable to CVR Energy stockholders was $27 million, up from $7 million in full-year 2024.
EBITDA and Adjusted EBITDA for Q4 2025 were $51 million and $91 million, respectively, a decrease from $122 million and $67 million in Q4 2024.
The Renewable Diesel Unit at the Wynnewood Refinery was reverted to hydrocarbon processing service in December 2025, leading to $62 million in accelerated depreciation for the quarter.
Revenue by Segment
Forward Guidance
CVR Energy anticipates strong throughput volumes in its refining operations and supportive nitrogen fertilizer market conditions for Q1 2026. However, the company acknowledges potential impacts from planned turnarounds and startup issues.
Positive Outlook
- Expected total throughput for Petroleum Segment between 200,000 and 215,000 bpd.
- Anticipated crude utilization for Petroleum Segment between 92% and 97%.
- Ammonia utilization rate for Nitrogen Fertilizer Segment expected to be between 95% and 100%.
- Supportive nitrogen fertilizer market conditions with tight global supply balances and strong demand.
- Optimistic about intermediate term prospects for refining with expected steady increases in global demand and fewer supply additions.
Challenges Ahead
- Direct operating expenses for Petroleum Segment projected between $110 million and $120 million.
- Direct operating expenses for Nitrogen Fertilizer Segment projected between $57 million and $62 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...