CVR Partners, LP Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
August 01, 2022 at 05:22 pm EDT
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CVR Partners, LP reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported sales was USD 244 million compared to USD 138.03 million a year ago. Net income was USD 117.58 million compared to USD 7.02 million a year ago. Basic earnings per share from continuing operations was USD 11.12 compared to USD 0.66 a year ago.
For the six months, sales was USD 466.87 million compared to USD 198.95 million a year ago. Net income was USD 211.24 million compared to net loss of USD 18.36 million a year ago. Basic earnings per share from continuing operations was USD 19.9 compared to basic loss per share from continuing operations of USD 1.72 a year ago.
CVR Partners, LP owns and operates the nitrogen fertilizer business. It produces nitrogen fertilizer products at two manufacturing facilities, one located in Coffeyville, Kansas operated by its subsidiary, Coffeyville Resources Nitrogen Fertilizers, LLC (the Coffeyville Facility) and one located in East Dubuque, Illinois operated by its wholly owned subsidiary, East Dubuque Nitrogen Fertilizers, LLC (EDNF). Both facilities manufacture ammonia and are able to further upgrade such ammonia to other nitrogen fertilizer products, principally urea ammonium nitrate (UAN). Nitrogen fertilizer is used by farmers to improve the yield and quality of their crops, primarily corn and wheat. Its products are sold on a wholesale basis in the United States of America. The Coffeyville Facility manufacturing facility includes a 1,300 ton-per-day ammonia unit, a 3,100 ton-per-day UAN unit and a dual-train gasifier complex having a capacity of 89 million standard cubic feet per day of hydrogen.
CVR PARTNERS, LP 