earnings
confidence high
sentiment positive
materiality 0.75
CVR Partners swings to Q2 net income of $7M, resumes distribution at $1.72/unit
CVR PARTNERS, LP
2021-Q2 EPS reported
-$1.72
revenue$198,945,000
- Net income of $7M ($0.66/unit) vs net loss of $42M in Q2 2020; EBITDA of $51M vs loss of $2M.
- Net sales rose 31% to $138M; average UAN price up 44% to $237/ton, ammonia up 21% to $403/ton.
- Declared Q2 2021 cash distribution of $1.72/unit, first since Q4 2019; payable Aug 23, record Aug 13.
- Issued $550M of 6.125% Senior Secured Notes due 2028; redeemed part of 9.25% notes, saving ~$17M/year in interest.
- Ammonia utilization rate 98%; combined production of 217K tons ammonia and 334K tons UAN.