CVR Energy reports net loss of $124 million in Q3 2024, no dividend payment.

From GlobeNewswire: 2024-10-28 17:05:00

CVR Energy reported a net loss of $124 million for the third quarter of 2024, with a loss per diluted share of $1.24. The company also announced an EBITDA loss of $35 million and adjusted EBITDA of $63 million. CVR Energy will not pay a cash dividend for the third quarter of 2024. CVR Partners declared a cash distribution of $1.19 per common unit.

In the Petroleum Segment, CVR Energy reported a third quarter net loss of $110 million and an EBITDA loss of $75 million. Total throughput for the third quarter of 2024 was approximately 189,000 barrels per day, with refining margin per total throughput barrel at $2.53. Adjusted refining margin per barrel was $8.23.

The Nitrogen Fertilizer Segment reported net income of $4 million for the third quarter of 2024, with EBITDA of $36 million. The segment produced a combined 212,000 tons of ammonia during the quarter, with average realized gate prices for UAN at $229 per ton and ammonia at $399 per ton. Average realized gate prices were $223 and $365 per ton for the third quarter of 2023.



Read more at GlobeNewswire:: CVR Energy Reports Third Quarter 2024 Results