CVR Energy Earnings: Here’s Why Investors Like These Results
CVR Energy, Inc. (NYSE:CVI) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 1.6%.
CVR Energy, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 150% to $1.90 in the quarter versus EPS of $0.76 in the year-earlier quarter.
Revenue: Rose 19.47% to $2.35 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: CVR Energy, Inc. reported adjusted EPS income of $1.90 per share. By that measure, the company beat the mean analyst estimate of $1.48. It beat the average revenue estimate of $2.19 billion.
Quoting Management: “CVR Energy’s solid first quarter results reflect the strong operational performance of both of our business segments,” said Jack Lipinski, CVR Energy’s chief executive officer. “In our petroleum segment, CVR Refining’s Coffeyville and Wynnewood refineries posted record crude throughput rates for the quarter. In our fertilizer segment, CVR Partners completed construction of its expanded UAN plant and also reported record UAN production and high on-stream rates for the quarter.”
Key Stats (on next page)…