NYSE$CVI

CVR Energy · Q2 2024 earnings

Q2 2024 earnings · · Investor relations

Briefing

CVR Energy's second quarter earnings were impacted by lower refining margins and reduced throughputs due to a fire at the Wynnewood refinery.

CVR Energy reported net income attributable to CVR Energy stockholders of $21 million, or 21 cents per diluted share, and EBITDA of $103 million for the second quarter of 2024. The results were negatively impacted by lower refining margins and reduced throughputs related to a fire at the Wynnewood refinery.

  • Second quarter net income attributable to CVR Energy stockholders was $21 million.
  • EBITDA for the second quarter was $103 million; adjusted EBITDA was $87 million.
  • Second quarter earnings per diluted share were 21 cents and adjusted earnings per diluted share was 9 cents.
  • A cash dividend of 50 cents per share was announced.

Headline financials

Total Revenue

$1.97B

Previous: $2.24B-12.0%
EPS

$0.21

Previous: $1.64-87.2%
Ammonia Utilization Rate

102.0%

Previous: 100.0%+2.0%
Ammonia Gross Produced (tons)

221.0K

Previous: 219.0K+0.9%
Ammonia Net Available for Sale (tons)

69.0K

Previous: 70.0K-1.4%
UAN Production (tons)

337.0K

Previous: 339.0K-0.6%
Capital Expenditures

-$43M

No prior period
Free Cash Flow

$21M

Previous: $130M-83.8%
Net Income

$21M

Previous: $130M-83.8%
Operating Income

$27M

Previous: $224M-87.9%
Gross Profit

$57M

Previous: $257M-77.8%
Cash & Equivalents

$586M

Previous: $751M-22.0%
Total Assets

$4B

Previous: $4.22B-5.1%

Revenue & EPS history

CVR Energy · Revenue · Quarterly

$1.97B

Q2 2024-12%vs Q2 2023
Beat estimate in 10 of 15 quarters(67%)
ActualEstimate

Revenue by segment

CVR Energy · $2.43B total across 2 segments · Q3 2023

  • Petroleum Segment
    $2.3B-7.1%
  • Nitrogen Fertilizer Segment
    $131M-16.0%

Forward guidance

The table below summarizes our outlook for certain operational statistics and financial information for our Nitrogen Fertilizer Segment for the third quarter of 2024.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q2 2024

Historical avgQ2 2024

-0.4%

Avg return

Earnings day

-0.8%

Avg return

5 days after

+1.4%

Avg return

30 days after

45%

29 / 65 earnings

Positive

+18.9%

Q1 2022

Best reaction

-24.0%

Q3 2024

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-1.2%+3.3%-2.7%
Q4 2025-3.2%-2.9%+51.3%
Q3 2025-5.2%-6.8%-11.9%
Q1 2025+4.1%+8.0%+25.6%
Q4 2024+7.4%+14.0%+14.7%
Q3 2024-24.0%-32.8%-18.9%
Q2 2024+4.9%-7.0%-10.7%
Q1 2024-8.5%-11.2%-14.7%
Q4 2023-4.6%-4.6%+4.7%
Q3 2023+5.6%+5.3%+2.4%
Q2 2023-1.1%-0.5%-10.1%
Q1 2023-0.5%-9.1%-11.1%
Q4 2022-2.1%-1.4%-6.2%
Q3 2022-4.5%-1.5%-7.4%
Q2 2022+3.3%-6.0%-2.6%
Q1 2022+18.9%+30.5%+44.8%
Q4 2021-12.6%-13.3%+16.8%
Q3 2021-10.3%-7.3%-18.9%
Q2 2021+2.6%-5.7%+1.2%
Q1 2021+3.7%+10.0%+6.3%
Q4 2020+5.9%-3.6%-12.1%
Q3 2020+1.6%-5.4%+38.7%
Q2 2020-7.8%-9.2%-15.3%
Q1 2020-6.6%-1.1%+14.0%
Q4 2019+5.6%-0.8%-39.5%
Q3 2019-0.5%+5.4%+1.3%
Q2 2019-0.5%-0.7%-25.6%
Q1 2019+7.1%+5.9%+3.7%
Q4 2018-3.0%-3.3%-4.7%
Q3 2018+6.4%+7.1%-4.6%
Q2 2018+4.3%+3.6%+2.1%
Q1 2018-2.6%-1.2%+22.7%
Q4 2017-3.1%-5.1%-4.7%
Q3 2017+10.9%+14.6%+17.9%
Q2 2017-11.1%-11.7%-7.6%
Q1 2017+11.2%+14.6%+5.3%
Q4 2016+10.3%+10.6%-6.4%
Q3 2016-11.1%-10.3%+17.9%
Q2 2016+5.0%-2.3%-1.8%
Q1 2016-6.6%
Q4 2015-11.8%
Q3 2015+4.7%
Q2 2015+1.2%
Q1 2015+1.3%
Q4 2014-3.9%
Q3 2014+2.9%
Q2 2014-0.9%
Q1 2014-1.5%
Q4 2013+7.3%
Q3 2013-5.6%
Q2 2013-2.6%
Q1 2013+8.0%
Q4 2012-6.9%
Q3 2012+7.1%
Q2 2012-4.4%
Q1 2011+1.1%
Q1 2012-0.9%
Q4 2011+0.2%
Q1 2010+0.2%
Q4 2009+0.2%
Q3 2010-2.8%
Q3 2011-2.8%
Q2 2011-2.3%
Q4 2010-2.3%
Q2 2010-2.3%

Discussion

Share your read of this quarter. Sign-in carries your eToro identity.

Join the conversation

Sign in with eToro to post your read of this quarter and vote on others'.

Sign in with eToro