CVR Refining, LP Announces Unaudited Consolidated Earnings and Operating Results for the Third Quarter and Nine Months Ended September 30, 2018; Provides Production and Capital Spending Guidance for the Fourth Quarter of 2018
For nine months, the company reported net sales of USD 5,139 million compared to USD 4,148 million a year ago. Operating income was USD 390 million compared to USD 157 million a year ago. Income before income tax expense was USD 117.8 million compared to USD 26.0 million a year ago. Net income was USD 439 million or USD 2.97 per basic and diluted share compared to USD 118 million or USD 0.80 per basic and diluted share a year ago. Adjusted EBITDA was USD 494 million compared to USD 296 million a year ago. EBITDA was USD 572 million compared to USD 252 million a year ago. Net cash flow provided by operating activities was USD 514 million compared to USD 314 million a year ago. Total capital expenditures were USD 50 million compared to USD 66 million a year ago.
For the quarter, the company's total throughput was 218,906 barrels per day compared to 213,606 barrels per day a year ago. Total refining production (excluding internally produced fuel) was 218,741 barrels per day compared to 213,474 barrels per day a year ago.
For nine months, the company's total throughput was 208,092 barrels per day compared to 221,336 barrels per day a year ago. Total refining production (excluding internally produced fuel) was 208,069 barrels per day compared to 221,699 barrels per day a year ago.
For the fourth quarter of 2018, the company expects total crude oil throughput from 215,000 bpd to 225,000 bpd and total capital spending to be in the range of 30 million to 40 million.