CVR Energy, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 30, 2023 at 04:54 pm EDT
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CVR Energy, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 2,522 million compared to USD 2,699 million a year ago. Net income was USD 353 million compared to USD 93 million a year ago. Basic earnings per share from continuing operations was USD 3.51 compared to USD 0.92 a year ago. Diluted earnings per share from continuing operations was USD 3.51 compared to USD 0.92 a year ago.
For the nine months, sales was USD 7,045 million compared to USD 8,216 million a year ago. Net income was USD 678 million compared to USD 351 million a year ago. Basic earnings per share from continuing operations was USD 6.74 compared to USD 3.49 a year ago.
CVR Energy, Inc. is a diversified holding company primarily engaged in the renewable fuels and petroleum refining and marketing businesses, as well as in the nitrogen fertilizer manufacturing business through its interest in its subsidiary, CVR Partners, LP (CVR Partners). The Company operates through two segments: Petroleum and Nitrogen Fertilizer. Petroleum Segment refines and markets high-value transportation fuels primarily in the form of gasoline and diesel fuels. Petroleum Segment is composed of the assets and operations of two refineries located in Coffeyville, Kansas and Wynnewood, Oklahoma and supporting logistics assets in the region. Nitrogen Fertilizer segment produces and markets nitrogen fertilizers in the form of urea and ammonium nitrate (UAN) and ammonia. The Company's Nitrogen Fertilizer Segment is composed of the assets and operations of CVR Partners, including two nitrogen fertilizer manufacturing facilities located in Coffeyville, Kansas and East Dubuque, Illinois.
CVR ENERGY, INC. 
