David Willetts
Also on and effective March 17, 2023, David Willetts resigned from the Board and its Committees as a result of other board commitments.
Highest-materiality recent filing
CVR Partners Q2 net income doubles to $78M; declares $6.08/unit distribution
Net income $78M ($7.33/unit) vs $39M ($3.67/unit) YoY; EBITDA $107M on net sales $202M.
CEO Mark Pytosh resigns; Dane Neumann promoted to President and CEO of CVR Energy and CVR Partners
Mark Pytosh resigned as President/CEO of CVR Energy and CVR GP effective June 18, 2026; receives $3M separation payment.
CVR Partners Q1 net income $50M ($4.72/unit), EBITDA $78M, declares $4.00 distribution
Net income $50M ($4.72 per unit) vs $27M ($2.56) YoY; EBITDA $78M vs $53M.
CVR Partners Q4 net loss $10M; full-year net income $99M; declares $0.37 distribution
Q4 2025 net loss $10M (EPS -$0.97); EBITDA $20M on net sales $131M.
CVR Partners reports preliminary Q4 net loss of $7-14M; FY2025 net income $95-102M
Q4 2025 net loss estimated between $14M and $7M; EBITDA $15-25M.
CVR Partners guides 2026 capex $60M-$75M, growth projects at Coffeyville and DEF expansion
Preliminary 2026 total capex estimated at $60M-$75M: maintenance $35M-$45M, growth $25M-$30M.
CVR Partners Q3 net income surges to $43M ($4.08/unit); declares $4.02 distribution
Net income of $43M ($4.08 per common unit) vs $4M ($0.36) in Q3 2024; EBITDA of $71M vs $36M.
CVR Partners Q2 net income $39M ($3.67/unit) vs $26M YoY; declares $3.89 distribution
Net income $39M ($3.67/unit) vs $26M ($2.48/unit) in Q2 2024; net sales $169M vs $133M.
CVR Partners Q1 net income $27M, EBITDA $53M; declares $2.26/unit distribution
Net income $27M ($2.56/unit) on sales $143M vs. $13M ($1.19/unit) on $128M in Q1 2024.
CVR Partners Q4 net income $18M ($1.73/unit); declares $1.75/unit distribution
Net income Q4 $18M ($1.73/unit) vs $10M ($0.94/unit) YoY; EBITDA $50M vs $38M.
CVR Partners Q3 net income $4M, EBITDA $36M; declares $1.19/unit distribution
Net income $4M ($0.36/unit) vs $1M ($0.07/unit) a year ago; net sales $125M.
CVR Partners Q2 net income falls 57% YoY to $26M; declares $1.90/unit distribution
Net income $26M ($2.48/unit) vs $60M ($5.66) in Q2 2023; EBITDA $54M vs $87M.
CVR Partners Q1 net income $13M vs $102M YoY; declares $1.92 distribution
Q1 net sales $128M, down 43% from $226M in Q1 2023; EBITDA $40M vs $124M.
CVR Partners Q4 net income drops 89% to $10M; declares $1.68/unit distribution
Q4 net income $10M ($0.94/unit) vs $95M ($9.02/unit) YoY; net sales $142M, down 33%.
CVR Partners Q3 net income $1M vs loss $20M YoY; declares $1.55/unit distribution
Net income of $1M ($0.07/unit) vs net loss of $20M ($1.87/unit) in Q3 2022.
CVR Partners amends ABL facility: maturity to 2028, max credit $50M, incremental to $65M
Maturity extended to September 26, 2028; Max Credit raised to $50M with incremental facility up to $65M.
CVR Partners Q2 net income $60M ($5.66/unit) vs $118M Y/Y; declares $4.14/unit distribution
Net income of $60M ($5.66 per unit) versus $118M ($11.12 per unit) a year ago; net sales fell to $183M from $244M.
CVR Partners Q1 net income $102M ($9.64/unit) on record production; declares $10.43 distribution
Net income of $102M ($9.64/unit) vs $94M ($8.78) in Q1 2022; net sales $226M vs $223M.
CVR Partners appoints Jordan Bleznick as Chairman; David Willetts resigns
Bleznick appointed Chairman of the board of CVR GP, LLC, effective March 17, 2023, also joining Compensation and Special Committees.
CVR Partners Q4 net income $95M ($9.02/unit), declares $10.50 distribution; FY2022 net income $287M
Q4 net income $95M ($9.02/unit) on sales $212M; EBITDA $122M vs $93M YoY.
CRNF received ~$18M net initial payment; expects quarterly installments through 2030 totaling up to ~$22M.
CVR Partners reports Q3 net loss of $20M; declares $1.77/unit distribution
Net loss of $20M ($1.87/unit) on net sales of $156M vs net income of $35M ($3.28/unit) on $145M in Q3 2021.
CVR Partners Q2 net income $118M, EPS $11.12, cash distribution $10.05/unit
Net income of $118M ($11.12/unit) vs $7M ($0.66/unit) in Q2 2021; net sales $244M vs $138M.
CVR Partners Q1 net income $94M vs year-ago loss; declares $2.26 distribution
Net income $94M ($8.78/unit), net sales $223M; Q1 2021 net loss $25M ($2.37/unit) on sales $61M.
CVR Partners Q4 net income $61M vs. loss year ago; declares $5.24/unit distribution
Q4 2021 net income $61M ($5.76/unit) on sales $189M vs. net loss $17M ($-1.53) on sales $90M in Q4 2020.
CVR Partners redeems remaining $65M of 9.250% Senior Secured Notes due 2023
Full redemption at par of remaining $65M in 9.250% notes due 2023; redemption date Feb 22, 2022.
CVR Partners reports Q3 2021 net income of $35M; declares $2.93 distribution
Net income of $35M ($3.28/unit) vs net loss of $19M (-$1.70) in Q3 2020. Net sales $145M, up 84% YoY.
CVR Partners defers Coffeyville turnaround to Q3 2022, sets CFO severance
Deferral of Coffeyville turnaround from Oct 2021 to Q3 2022 due to COVID-19 spike and travel quarantine list.
CVR Partners CFO Tracy Jackson resigns; interim CFO and new CAO appointed
Tracy D. Jackson resigned as CFO and principal accounting officer effective Aug 9, 2021; not due to accounting disagreement.
CVR Partners swings to Q2 net income of $7M, resumes distribution at $1.72/unit
Net income of $7M ($0.66/unit) vs net loss of $42M in Q2 2020; EBITDA of $51M vs loss of $2M.
Also on and effective March 17, 2023, David Willetts resigned from the Board and its Committees as a result of other board commitments.
On and effective March 17, 2023, Jordan Bleznick was appointed to the board of directors (the “Board”) of CVR GP, LLC (the “Company”), the general partner of CVR Partners, LP (the “Partnership”), as its Chairman, as well as to the Board’s Compensation Committee and Special Committee (collectively, the “Committees”).
On June 23, 2022, Kapiljeet Dargan notified CVR GP, LLC (the “Company”), the general partner of CVR Partners, LP (the “Partnership”), of his resignation from service as a member of the Board of Directors (the “Board”) of the Company and the committees of the Board on which he served, including the Compensation Committee and the Special Committee (collectively, the “Committees”), effective immediately.
On December 28, 2021, Patricia A. Agnello resigned from the Board of Directors (the “Board”) of CVR GP, LLC (the “Company”), the general partner of CVR Partners, LP (the “Partnership”), and the Compensation Committee on which she served.
On October 6, 2021, the board of directors of the general partner of CVR Partners, LP (the “Partnership”) and the board of directors of CVR Energy, Inc. (the “CVR Energy”) appointed Dane J. Neumann, 37, to serve as Executive Vice President and Chief Financial Officer of the general partner of the Partnership and CVR Energy, effective immediately.
On August 9, 2021, Tracy D. Jackson resigned from her position as Executive Vice President and Chief Financial Officer and principal accounting officer of the general partner of CVR Partners, LP (the “Partnership”) and CVR Energy, Inc. (the “Company”), effective immediately.
the board of directors of the general partner of the Partnership and the board of directors of the Company appointed Dane J. Neumann, 37, to serve as Interim Chief Financial Officer of the general partner of the Partnership and the Company, in addition to his current role as Vice President – Finance & Treasurer
appointed Jeffrey D. Conaway, 46, to serve as Vice President, Chief Accounting Officer and Corporate Controller of the general partner of the Partnership and the Company, each effective as of August 9, 2021.
On July 9, 2021, Matthew Bley notified CVR GP, LLC (the “Company”), the general partner of CVR Partners, LP (the “Partnership”) of his intention to resign as the Company’s Chief Accounting Officer, Corporate Controller, and principal accounting officer.
On July 13, 2021, Tracy D. Jackson, the Company’s Executive Vice President and Chief Financial Officer, was appointed principal accounting officer as of the effective date of Mr. Bley’s resignation.
On July 7, 2021, David Willetts was appointed to the board of directors (the “Board”) of CVR GP, LLC (the “Company”), the general partner of CVR Partners, LP (the “Partnership”), as well as to the Board’s Compensation Committee and Special Committee.
On June 28, 2021, Jonathan Frates resigned from the board of directors (“Board”) of CVR GP, LLC (the “Company”), the general partner of CVR Partners, LP (the “Partnership”), and the committees on which he served.
Max materiality 0.85 · Median 0.65 · Most common event earnings