CVR Energy falls after downbeat Q3 results

CVR Energy

29/10/2024 14:36

(Updates)
    ** Shares of oil refiner CVR Energy  CVI.N  fall 24.4% to
$17.95
    ** Stock hit a more than 31-month low of $17.53 earlier in
the session 
    ** Company posts Q3 adj. loss of 50 cents​​ per share, vs
analysts' estimate of a 9-cent loss - LSEG data
    ** Q3 revenue of $1.83 bln below estimates of $1.91 bln
    ** Company's Q3 results for its refining business were
impacted by reduced refining throughputs attributable to
unplanned downtime at both facilities partially caused by
external power supply outages during the quarter - CEO Dave Lamp
    ** Avg. rating of analysts covering the stock is "sell";
median PT is $23 - LSEG data
    ** Including session's move, stock down 40.6% YTD
    

 (Reporting by Sukriti Gupta in Bengaluru)
 ((Sukriti.Gupta@thomsonreuters.com;))