NYSE$CVI
CVR Energy · Q4 2024 earnings
Q4 2024 earnings · · After market close · Investor relations
Briefing
CVR Energy reported a decrease in net income and revenue for the fourth quarter of 2024 compared to the same period in 2023, primarily due to lower crack spreads in its refining business.
CVR Energy reported a net income attributable to stockholders of $28 million, or $0.28 per diluted share, for the fourth quarter of 2024, a significant decrease from $91 million, or $0.91 per diluted share, in Q4 2023. Total net sales for the quarter were $1,947 million, down from $2,202 million in the prior year's fourth quarter. The Petroleum Segment's performance was notably impacted by reduced crack spreads and throughputs.
- Net income attributable to CVR Energy stockholders decreased to $28 million in Q4 2024 from $91 million in Q4 2023.
- Total net sales for Q4 2024 were $1,947 million, a decline from $2,202 million in Q4 2023.
- The Petroleum Segment's net income fell to $35 million in Q4 2024 from $158 million in Q4 2023, driven by lower crack spreads.
- The Renewables Segment reported a net loss of $3 million in Q4 2024, an improvement from a $30 million net loss in Q4 2023, due to lower feedstock costs.
- The Nitrogen Fertilizer Segment saw an increase in net income to $18 million in Q4 2024 from $10 million in Q4 2023.
Headline financials
Revenue & EPS history
CVR Energy · Revenue · Quarterly
$1.95K
Revenue by segment
CVR Energy · $2.43B total across 2 segments · Q3 2023
- Petroleum Segment$2.3B-7.1%94.6%
- Nitrogen Fertilizer Segment$131M-16.0%5.4%
Forward guidance
For Q1 2025, CVR Energy anticipates lower total throughput for its Petroleum Segment due to a planned turnaround, which will also impact direct operating expenses. Renewables throughput is expected to be lower, while Nitrogen Fertilizer ammonia utilization is projected to remain high.
Tailwinds
- Anticipated improvement in crack spreads as summer driving season begins.
- Capacity rationalization expected to occur in the refining business.
- Continued strong ammonia utilization rate for Nitrogen Fertilizer Segment (95%-100%).
- Planned Coffeyville turnaround early in Q1 2025 should position the refinery well.
- Sustained cash distributions from CVR Partners.
Headwinds
- Lower total throughput for Petroleum Segment (120,000-135,000 bpd) due to turnaround.
- Increased direct operating expenses for Petroleum Segment ($95-$105 million) due to turnaround.
- Lower total throughput for Renewables Segment (13-16 million gallons).
- Increased direct operating expenses for Renewables Segment ($8-$10 million).
- Significant capital expenditures expected across all segments ($44-$63 million).
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 Q4 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
| Quarter | Report date | Reaction (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% | — | — |
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