Overview
CVR Partners Q3 net income rises to $43 mln from $4 mln yr/yr
Company reports Q3 EBITDA of $71 mln, up from $36 mln yr/yr
CVR Partners declares Q3 cash distribution of $4.02 per common unit
Outlook
Company expects Q4 ammonia utilization rate between 80% and 85%
Company forecasts Q4 direct operating expenses between $58 mln and $63 mln
CVR Partners projects Q4 total capital expenditures between $30 mln and $35 mln
Result Drivers
STRONG AMMONIA DEMAND - CEO Mark Pytosh attributes strong Q3 results to high ammonia demand for fall application
HIGHER PRODUCT PRICES - Average realized gate prices for ammonia and UAN increased by 33% and 52% respectively, boosting revenue
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Sales | $163.54 mln | ||
Q3 Net Income | $43.07 mln | ||
Q3 Operating income | $50.63 mln |
Press Release: ID:nBw133D9Ca
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
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