CVR Energy Inc ( (CVI) ) has released its Q1 earnings. Here is a breakdown of the information CVR Energy Inc presented to its investors.
CVR Energy, Inc., headquartered in Sugar Land, Texas, is a diversified holding company engaged in renewable fuels, petroleum refining, marketing, and nitrogen fertilizer manufacturing through its interest in CVR Partners.
In the first quarter of 2025, CVR Energy reported a net loss of $123 million, or $1.22 per diluted share, marking a significant downturn from the previous year’s net income of $82 million. The company also posted an EBITDA loss of $61 million, with adjusted EBITDA standing at $24 million. Notably, CVR Energy decided not to pay a cash dividend for this quarter.
The company’s financial performance was impacted by planned and unplanned downtime at its Coffeyville refinery, resulting in a decrease in throughput and refining margins. The Petroleum Segment reported a net loss of $160 million, while the Renewables Segment showed improvement with a net income of less than $1 million and an EBITDA of $6 million. The Nitrogen Fertilizer Segment performed well, reporting a net income of $27 million and EBITDA of $53 million, driven by increased production and sales volumes.
Looking ahead, CVR Energy’s management is optimistic about the upcoming driving season, with no planned turnarounds at its refineries until 2027. The company aims to capitalize on the completed turnaround at Coffeyville and the solid performance of its Nitrogen Fertilizer Segment to improve its financial standing in the coming quarters.