CVR Partners, LP Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
July 31, 2023 at 05:15 pm EDT
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CVR Partners, LP reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 183.01 million compared to USD 244 million a year ago. Net income was USD 59.86 million compared to USD 117.58 million a year ago. Basic earnings per share from continuing operations was USD 5.66 compared to USD 11.12 a year ago.
For the six months, sales was USD 409.27 million compared to USD 466.87 million a year ago. Net income was USD 161.73 million compared to USD 211.24 million a year ago. Basic earnings per share from continuing operations was USD 15.3 compared to USD 19.9 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 
