CVR Partners, LP Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
October 31, 2022 at 05:24 pm EDT
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CVR Partners, LP reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported sales was USD 156.48 million compared to USD 144.72 million a year ago. Net loss was USD 19.81 million compared to net income of USD 35.03 million a year ago. Basic loss per share from continuing operations was USD 1.87 compared to basic earnings per share from continuing operations of USD 3.28 a year ago.
For the nine months, sales was USD 623.35 million compared to USD 343.66 million a year ago. Net income was USD 191.44 million compared to USD 16.67 million a year ago. Basic earnings per share from continuing operations was USD 18.06 compared to USD 1.56 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 