From GlobeNewswire: 2025-02-18 16:59:00

CVR Energy reported full-year 2024 net income of $7 million and EBITDA of $394 million, with dividends of $1.00 per share. Fourth quarter 2024 net income was $28 million, EBITDA $122 million. CEO Dave Lamp noted lower earnings in refining business due to reduced crack spreads and throughput. CVR Partners declared a $1.75 cash distribution per common unit.

The Petroleum Segment saw a decrease in net income to $35 million and EBITDA to $72 million in the fourth quarter of 2024, with refining margin at $165 million. Full-year net income was $70 million, EBITDA $223 million. Throughput decreased to approximately 214,000 barrels per day in the fourth quarter.

The Renewables Segment reported a net loss of $3 million in the fourth quarter of 2024, with EBITDA of $3 million. Full-year net loss was $21 million, EBITDA $3 million. Total vegetable oil throughput was approximately 187,000 gallons per day in the fourth quarter. Renewables margin was $14 million, with adjusted margin at $9 million.

The Nitrogen Fertilizer Segment reported a net income of $18 million in the fourth quarter of 2024, with EBITDA of $50 million on net sales of $140 million. Full-year net income was $61 million, EBITDA $179 million on net sales of $525 million. Average realized gate prices for UAN declined by 5% to $229 per ton in the fourth quarter.

CVR Energy enhanced liquidity by $408 million in the fourth quarter of 2024 through a Term Loan and the sale of its 50% interest in the Midway Pipeline. The Company reported a strong balance sheet with $987 million in cash and cash equivalents at December 31, 2024, and total debt of $1.9 billion. The Board of Directors of CVR Partners declared a fourth quarter 2024 cash distribution of $1.75 per common unit.



Read more at GlobeNewswire:: CVR Energy Reports Fourth Quarter and Full-Year 2024