CVR Energy Q1 sales beat estimates, adjusted loss widens

CVR Energy

29/04/2026 21:39

Overview

U.S. refiner and fertilizer maker's Q1 sales beat analyst expectations

Adjusted EPS for Q1 missed analyst expectations

Company posted net loss due to $158 mln in unrealized derivative losses

Outlook

Company expects Q2 2026 petroleum throughput of 200,000-215,000 bpd

Company sees Q2 2026 crude utilization between 92% and 99%

Company expects Q2 2026 nitrogen fertilizer ammonia utilization rate of 95%-100%

Result Drivers

DERIVATIVE LOSSES - Q1 net loss included $158 mln in unrealized derivative losses, which do not reflect $447 mln in expected value from NYMEX crack spread swaps to be realized through 2027

STRONG FERTILIZER DEMAND - Nitrogen Fertilizer segment saw higher net income, supported by robust demand for the spring planting season and higher ammonia and UAN pricing

HIGH UTILIZATION RATES - Company reported crude utilization of 97% and ammonia plant utilization of 103%, indicating solid operational performance

Company press release: ID:nBw551VHja

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Sales
Beat
$1.98 bln
$1.70 bln (5 Analysts)
Q1 Adjusted EPS
Miss
-$1.24
-$0.40 (6 Analysts)
Q1 Net Income
-$160 mln


Analyst Coverage

The current average analyst rating on the shares is "sell" and the breakdown of recommendations is no "strong buy" or "buy", 3 "hold" and 5 "sell" or "strong sell"

The average consensus recommendation for the oil & gas refining and marketing peer group is "buy."

Wall Street's median 12-month price target for CVR Energy Inc is $32.00, about 2% below its April 28 closing price of $32.65

The stock recently traded at 24 times the next 12-month earnings vs. a P/E of 17 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)