Inactive Instrument

CVR Refining LP

Equities

CVRR

Oil & Gas Refining and Marketing

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

October 24, 2018 at 04:30 pm EDT

CVR Refining, LP announced unaudited consolidated earnings and operating results for the third quarter and nine months ended September 30, 2018. For the quarter, the company reported net sales of USD 1,857 million compared to USD 1,386 million a year ago. Operating income was USD 176 million compared to USD 99 million a year ago. Net income was USD 174 million or USD 1.18 per basic and diluted share compared to USD 70 million or USD 0.47 per basic and diluted share a year ago. Adjusted EBITDA was USD 221 million compared to USD 139 million a year ago. EBITDA was USD 218 million compared to USD 115 million a year ago. Net cash flow provided by operating activities was USD 256 million compared to USD 63 million a year ago. Total capital expenditures were USD 18 million compared to USD 19 million a year ago.

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.

Latest news about CVR Refining LP

CVR Energy, Inc. enters Amendment No. 3 to Amended and Restated ABL Credit Agreement	22-07-01	CI
CVR Energy Inc. Completes the Acquisition of CVR Refining, LP	19-01-29	CI
CVR Energy, Inc. completed the acquisition of 3.9% stake in CVR Refining, LP (NYSE : CVRR) from American Entertainment Properties Corp. and Icahn Enterprises Holdings L.P.	19-01-28	CI
CVR Energy, Inc. entered into common unit purchase agreement to acquire 3.9% stake in CVR Refining, LP from American Entertainment Properties Corp. and Icahn Enterprises Holdings L.P for $60.4 million.	19-01-16	CI
Transcript : CVR Refining, LP, Q3 2018 Earnings Call, Oct 25, 2018	18-10-25
CVR Refining Announces Third Quarter 2018 Cash Distribution Payable on Nov. 12, 2018	18-10-24	CI
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	18-10-24	CI
CVR Refining, LP Announces Board Changes	18-09-28	CI
CVR Refining, LP(NYSE:CVRR) dropped from Alerian MLP Index	18-09-21	CI
CVR Refining Puts Its Crude Oil Tank Farm For Sale	18-09-17	CI
CVR Energy, Inc. completed the acquisition of an additional 14.7% stake in CVR Refining, LP for approximately $520 million.	18-07-26	CI
Transcript : CVR Refining, LP, Q2 2018 Earnings Call, Jul 26, 2018	18-07-26
CVR Refining, LP Declares Distribution for Second Quarter of 2018	18-07-25	CI
CVR Refining, LP Reports Unaudited Consolidated Earnings and Operating Results for the Second Quarter and Six Months Ended June 30, 2018; Provides Production Results for the Third Quarter of 2018; Provides Capital Expenditure Guidance for the Year 2018	18-07-25	CI
CVR Energy Names Melissa M. Buhrig Executive Vice President, General Counsel and Secretary	18-07-02	CI
Butler Hall Sends Letter to Board of Directors of CVR Refining	18-06-28	CI
CVR Energy, Inc. made an offer to acquire an additional 25.2% stake in CVR Refining, LP for approximately $1 billion.	18-05-28	CI
CVR Energy, Inc., CVR Refining, LP and CVR Partners, LP Announces Management Appointments, Effective May 4, 2018	18-05-02	CI
Transcript : CVR Refining, LP, Q1 2018 Earnings Call, Apr 26, 2018	18-04-26
CVR Refining, LP Declares Distribution for First Quarter of 2018, Payable on May 14, 2018	18-04-26	CI
CVR Refining, LP Reports Unaudited Consolidated Earnings and Operating Results for the First Quarter Ended March 31, 2018; Provides Capital Expenditure Guidance for the Full Year of 2018; Provides Operating and Capital Expenditure Guidance for the Second Quarter of 2018	18-04-26	CI
CVR Partners, LP, CVR Energy and CVR Refining Announce Resignation of Susan M. Ball as Executive Vice President, Chief Financial Officer and Treasurer	18-04-09	CI
CVR Refining, LP(NYSE:CVRR) added to Alerian MLP Index	18-03-20	CI
Transcript : CVR Refining, LP, Q4 2017 Earnings Call, Feb 22, 2018	18-02-22
CVR Refining, LP Announces Distribution for the Fourth Quarter 2017, Payable on March 12, 2018	18-02-22	CI

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Company Profile

CVR Refining, LP is an independent downstream energy limited partnership with refining and related logistics assets that operates in the mid-continent region. The Company is a petroleum refiner. It owned and operated a complex full coking medium-sour crude oil refinery in Coffeyville, Kansas with a rated capacity of 115,000 barrels per calendar day (bpcd) and a complex crude oil refinery in Wynnewood, Oklahoma with a rated capacity of 70,000 bpcd capable of processing 20,000 bpcd of light sour crude oils (within its rated capacity of 70,000 bpcd), as of December 31, 2016. In addition, it also controlled and operated supporting logistics assets, including approximately 340 miles of active owned and leased pipelines, approximately 150 crude oil transports, a network of crude oil gathering tank farms, approximately 6.4 million barrels of owned and leased crude oil storage and over 4.5 million barrels of combined refined products and feedstocks storage capacity, as of December 31, 2016.

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Oil & Gas Refining and Marketing

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