Nucor earnings beat by $0.08, revenue fell short of estimates
SUNNY ISLES BEACH, FL—Carl C. Icahn, a prominent investor and the largest stakeholder in Icahn Enterprises (NASDAQ:IEP) Holdings L.P., has made notable acquisitions in CVR Partners, LP (NYSE:UAN), a nitrogen fertilizer producer with a market capitalization of $787 million. According to a recent SEC filing, Icahn has purchased a total of 4,897 common units of CVR Partners, valued at approximately $367,016. The company currently trades at a P/E ratio of 13 and offers a substantial dividend yield of 9.15%.
The transactions occurred on March 6 and March 10, with purchase prices ranging from $74.93 to $74.96 per unit. Following these transactions, Icahn’s total holdings in CVR Partners have increased to 189,113 units. According to InvestingPro analysis, CVR Partners demonstrates good financial health with strong cash flows and appears slightly undervalued based on its Fair Value assessment. Subscribers can access 6 additional ProTips and a comprehensive Pro Research Report for deeper insights into the company’s fundamentals.
These acquisitions were executed through entities directly or indirectly controlled by Icahn, including AEPC Holdings LLC and Icahn Enterprises Holdings. The transactions highlight Icahn’s continued interest in expanding his stake in the nitrogen fertilizer producer, CVR Partners, LP, which maintains a healthy current ratio of 2.1 and has demonstrated strong returns over the past five years.
In other recent news, CVR Partners reported its fourth-quarter 2024 earnings, exceeding analyst expectations with an earnings per share (EPS) of $1.73. The company’s revenue for the quarter was $139.56 million, closely aligning with projections. CVR Partners announced a distribution of $1.75 per common unit, reflecting its strong financial performance. The company also highlighted its robust operational efficiency, with net sales reaching $140 million and operating income totaling $26 million for the quarter. The firm achieved a net income of $18 million, translating to an EPS of $1.73. Analysts noted that CVR Partners’ ability to surpass EPS forecasts demonstrates effective cost management. The company projects maintenance capital spending between $35 million and $45 million for 2025, with growth capital spending ranging from $20 million to $25 million. CVR Partners anticipates strong demand for nitrogen fertilizer in the upcoming spring application season.
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