CVR Energy shares closed down 2.5% following first quarter 2026 earnings, reflecting investor concerns over operating losses driven by margin compression in the Petroleum segment and elevated regulatory costs, despite management’s focus on adjusted performance metrics.

• Reported a consolidated net loss of $160 million for Q1 2026, with an EBITDA loss of $52 million; adjusted EBITDA was $37 million after excluding significant unrealized derivative and regulatory impacts.
• Adjusted EBITDA in the Petroleum segment was a loss of $50 million, a deterioration from the previous year’s $30 million loss, primarily due to higher RINs expenses, increased operating costs, and derivative losses.
• Net RINs expense reached $143 million for the quarter, or $7.37 per barrel, weighing heavily on margins and capture rate (22% on the Group 3 2-1-1 benchmark).
• Crude utilization remained high at 97%, and light product yield was 93% on total throughput volumes; combined throughput was approximately 214,000 barrels per day.
• The company declared a $0.10 per share dividend for the quarter, maintaining its capital return plan alongside debt reduction goals.