CVR Partners, LP Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 20, 2024 at 05:16 pm EST
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CVR Partners, LP reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 141.62 million compared to USD 212.23 million a year ago. Net income was USD 9.98 million compared to USD 95.37 million a year ago. Basic earnings per share from continuing operations was USD 0.94 compared to USD 9.02 a year ago.
For the full year, sales was USD 681.48 million compared to USD 835.58 million a year ago. Net income was USD 172.43 million compared to USD 286.8 million a year ago. Basic earnings per share from continuing operations was USD 16.31 compared to USD 27.07 a year ago.
CVR Partners, LP owns and operates the nitrogen fertilizer business. It produces nitrogen fertilizer products at two manufacturing facilities, one located in Coffeyville, Kansas operated by its subsidiary, Coffeyville Resources Nitrogen Fertilizers, LLC (the Coffeyville Facility) and one located in East Dubuque, Illinois operated by its wholly owned subsidiary, East Dubuque Nitrogen Fertilizers, LLC (EDNF). Both facilities manufacture ammonia and are able to further upgrade such ammonia to other nitrogen fertilizer products, principally urea ammonium nitrate (UAN). Nitrogen fertilizer is used by farmers to improve the yield and quality of their crops, primarily corn and wheat. Its products are sold on a wholesale basis in the United States of America. The Coffeyville Facility manufacturing facility includes a 1,300 ton-per-day ammonia unit, a 3,100 ton-per-day UAN unit and a dual-train gasifier complex having a capacity of 89 million standard cubic feet per day of hydrogen.
CVR PARTNERS, LP 
