CVR Partners Q1 net income $94M vs year-ago loss; declares $2.26 distribution

CVR PARTNERS, LP

2022-Q1 EPS reported $8.78 revenue$222,873,000

Net income $94M ($8.78/unit), net sales $223M; Q1 2021 net loss $25M ($2.37/unit) on sales $61M.
EBITDA $123M vs $5M in Q1 2021; UAN realized price up 212% to $496/ton, ammonia up 252% to $1,055/ton.
Redeemed remaining $65M of 9.25% Senior Secured Notes due 2023, achieving targeted debt reduction.
Declared Q1 cash distribution of $2.26/unit, payable May 23, 2022 to holders of record May 13, 2022.
Repurchased 111,695 common units for $12.4M at avg price $110.98/unit during quarter.

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