earnings
confidence high
sentiment positive
materiality 0.80
CVR Partners reports Q3 2021 net income of $35M; declares $2.93 distribution
CVR PARTNERS, LP
2021-Q3 EPS reported
$1.56
revenue$343,660,000
- Net income of $35M ($3.28/unit) vs net loss of $19M (-$1.70) in Q3 2020. Net sales $145M, up 84% YoY.
- EBITDA of $64M vs $15M; ammonia utilization rate 94%. Avg realized UAN price $305/ton (+118%), ammonia $507/ton (+110%).
- Declared Q3 2021 cash distribution of $2.93/unit, payable Nov 22 to holders of record Nov 12.
- Produced 205k tons ammonia, 314k tons UAN. Redeemed $15M of 9.25% Senior Secured Notes due 2023.
- Entered new $35M ABL Credit Facility maturing Sep 2024. Unit repurchase authority remaining $12.4M.