CVR Energy (CVI) reported quarterly earnings results on Thursday, Jul-28-2016. The company said it had a profit of $0.33 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.36. Analysts had a consensus of $-0.03. The company posted revenue of $1283.20 million in the period, compared to analysts expectations of $1155.65 million. The company’s revenue was down -21.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.17 EPS.
CVR Energy opened for trading at $14.49 and hit $15.29 on the upside on Thursday, eventually ending the session at $14.24, with a gain of 1.06% or 0.15 points. The heightened volatility saw the trading volume jump to 13,19,536 shares. Company has a market cap of $1,236 M.
CVR Energy Inc. is a holding company. The Company engages in the petroleum refining and nitrogen fertilizer manufacturing through its holdings in CVR Refining LP (CVR Refining or the Refining Partnership) and CVR Partners LP (CVR Partners or the Nitrogen Fertilizer Partnership). The Companys Refining Partnership is an independent petroleum refiner and marketer of transportation fuels. Its Nitrogen Fertilizer Partnership produces and markets nitrogen fertilizers in the form of urea and ammonium nitrate (UAN) and ammonia. In addition the Company through its majority owned subsidiaries produces and markets nitrogen fertilizer products in North America. It operates in two segments: the petroleum segment and the nitrogen fertilizer segment. The petroleum business consists of a coking medium-sour crude oil refinery in Coffeyville Kansas and a crude oil refinery in Wynnewood Oklahoma. The nitrogen fertilizer business consists of a nitrogen fertilizer facility in Coffeyville Kansas.