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Investing.com -- CVR Energy, Inc. (NYSE:CVI) reported a narrower-than-expected loss for the first quarter of 2025, though shares fell 4.2% as the company’s refining business was impacted by downtime at its Coffeyville refinery.
The petroleum refiner and fertilizer manufacturer posted an adjusted loss of $0.58 per share, beating analyst estimates for a loss of $0.85 per share. Revenue came in at $1.65 billion, surpassing expectations of $1.41 billion and rising 16.6% YoY.
CVR Energy’s petroleum segment reported a net loss of $160 million and EBITDA loss of $119 million for the quarter, compared to net income of $127 million and EBITDA of $171 million in Q1 2024. The company cited planned and unplanned downtime at its Coffeyville, Kansas refinery as the primary factor impacting results.
"With the turnaround at Coffeyville now completed, we are well-positioned for the upcoming driving season, and we currently have no planned turnarounds at either refinery until 2027," said CEO Dave Lamp.
Combined total throughput fell to approximately 120,000 barrels per day, down from 196,000 bpd in the year-ago quarter due to the Coffeyville turnaround.
The company’s nitrogen fertilizer segment fared better, with net income rising to $27 million from $13 million last year. CVR Partners (NYSE:UAN), the company’s fertilizer subsidiary, declared a quarterly cash distribution of $2.26 per common unit.
CVR Energy will not pay a cash dividend for the first quarter. The stock’s 4.2% decline following the earnings release suggests investors remain cautious about the company’s near-term outlook despite the better-than-expected results.
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