CVR Refining, LP announced unaudited operating and earnings results for the first quarter ended March 31, 2017. For the quarter, the company reported net sales of $1,423.5 million against $834.0 million for the same period a year ago. Operating income was $66 million against operating loss of $56 million for the same period a year ago. Profit before income tax expense was $67 million against loss of $68 million for the same period a year ago. Net profit was $67 million or $0.45 per basic and diluted share against net loss of $68 million or $0.46 per basic and diluted share for the same period a year ago. Adjusted EBITDA was $114.5 million against $35.1 million for the same period a year ago. The increase was primarily driven by higher crude throughput, higher Group 3 crack spreads and a significant reduction in the net RINs costs associated with uncommitted obligations. Net cash flow provided by operating activities was $116.1 million against $3.0 million for the same period a year ago. Total capital expenditures were $19.6 million against $44 million for the same period a year ago. Of the total capital expenditures in the first quarter, approximately $17.5 million were related to environmental and maintenance capital and $2.1 million was related to growth capital. EBITDA was $112.3 million compared to LBITDA of $25.7 million a year ago.

For the quarter, the company reported total crude oil throughput of 214,369 barrels against 184,155 barrels a year ago. Total refining production (excluding internally produced fuel) was 229,160 barrels against 195,393 barrels a year ago.

For the second quarter of 2017, the company expected total crude throughput of 200,000 bpd to 210,000 bpd. Total refining production will be in range of 210,000 bpd to 220,000 bpd.

For the full year 2017, the company estimates total capital spending to be approximately $170 million, of which $150 million is expected to be environmental and maintenance capital, with the remaining being growth capital, primarily associated with the hydrogen plant project at Coffeyville.