CVR Energy, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 20, 2024 at 05:17 pm EST
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CVR Energy, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 2,202 million compared to USD 2,679 million a year ago. Net income was USD 91 million compared to USD 112 million a year ago. Basic earnings per share from continuing operations was USD 0.91 compared to USD 1.11 a year ago. Diluted earnings per share from continuing operations was USD 0.91 compared to USD 1.11 a year ago.
For the full year, sales was USD 9,247 million compared to USD 10,896 million a year ago. Net income was USD 769 million compared to USD 463 million a year ago. Basic earnings per share from continuing operations was USD 7.65 compared to USD 4.6 a year ago. Diluted earnings per share from continuing operations was USD 7.65 compared to USD 4.6 a year ago.
CVR Energy, Inc. is a diversified holding company primarily engaged in the renewable fuels and petroleum refining and marketing businesses, as well as in the nitrogen fertilizer manufacturing business through its interest in its subsidiary, CVR Partners, LP (CVR Partners). The Company operates through two segments: Petroleum and Nitrogen Fertilizer. Petroleum Segment refines and markets high-value transportation fuels primarily in the form of gasoline and diesel fuels. Petroleum Segment is composed of the assets and operations of two refineries located in Coffeyville, Kansas and Wynnewood, Oklahoma and supporting logistics assets in the region. Nitrogen Fertilizer segment produces and markets nitrogen fertilizers in the form of urea and ammonium nitrate (UAN) and ammonia. The Company's Nitrogen Fertilizer Segment is composed of the assets and operations of CVR Partners, including two nitrogen fertilizer manufacturing facilities located in Coffeyville, Kansas and East Dubuque, Illinois.
CVR ENERGY, INC. 
