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CVR Partners, LP (NYSE:UAN) 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 1.88%.
CVR Partners, LP Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 62.5% to $0.21 in the quarter versus EPS of $0.56 in the year-earlier quarter.
Revenue: Decreased 22.84% to $67.6 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: CVR Partners, LP Common Units representing Limited Partner Interests reported adjusted EPS income of $0.21 per share. By that measure, the company beat the mean analyst estimate of $0.18. It beat the average revenue estimate of $54.35 million.
Quoting Management: “2012 was another solid year for CVR Partners,” said Byron Kelley, president and chief executive officer. “We finished construction on our storage distribution tank facility in Phillipsburg, Kansas, and increased our sales mix of diesel exhaust fluid, a high margin specialty product. Our fertilizer plant also achieved strong on-stream rates throughout the year with the exception of the period of planned turnaround work in October.
“Continuing our momentum into 2013, we recently completed construction on our UAN expansion project at the fertilizer plant. We have been gradually increasing production rates through the new facilities during the past week and expect to reach full production rates of 3,000 tons per day in March,” Kelley said. “With the completion of these lucrative projects, CVR Partners is well positioned to take advantage of the strong pricing environment we are seeing in 2013.”
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