CVR Energy Reports Q1 Revenue of $1.98B
Reports Q1 revenue $1.98B, consensus $1.79B. "CVR Energy's first quarter operations were solid, with crude utilization of 97 percent and ammonia plant utilization of 103 percent," said Mark Pytosh, CVR Energy's Chief Executive Officer. "The major geopolitical events of the past few months have created significant volatility in energy and fertilizer markets. However, as a result of our expected locked in value of $447 million from the sale of NYMEX crack spread swaps we expect to realize through 2027, among other matters, we believe our assets are well-positioned to increase in value. We are therefore pleased to announce a first quarter cash dividend of 10 cents per share and while there can be no guarantees, we are hopeful to be able to raise the dividend in the future."
