CVR Partners, LP Earnings Recaps
Q1 2026
May 1, 2026
Shares of CVR Partners fell 4.0% following Q1 2026 earnings, as investors appeared disappointed by increasing operating costs and some deceleration in key operating metrics. Despite higher realized product prices, rising expenses and slightly lower sales volumes contributed to the negative reaction.
Key takeaways
- Net sales reached $180 million; EBITDA was $78 million, with net income of $50 million, or $4.72 per common unit.
- Ammonia plant utilization was strong at 103%, but total sales volumes declined slightly year-over-year, primarily due to lower UAN production and minor outages.
- Direct operating expenses rose $9 million versus Q1 2025, driven by higher natural gas, electricity, and maintenance costs.
- Q1 distribution was set at $4 per common unit, with $42 million of cash available for distribution.
- The company guided to lower ammonia utilization (95–100%) and total capex ($28–32 million) for the remainder of 2026, reflecting some moderation ahead.
Q3 2025
Nov 1, 2025
CVR Partners delivered strong Q3 2025 results with net sales of $164 million and a declared distribution of $4.02 per common unit, benefiting from elevated UAN and ammonia pricing amid tight inventory conditions.
Key takeaways
- EBITDA increased to $71 million, driven by 52% higher UAN prices and 33% higher ammonia prices year-over-year.
- Ammonia plant utilization averaged 95%, although impacted by downtime; production totaled 208,000 gross tons.
- Cash available for distribution reached $42 million, supporting the quarterly distribution of $4.02 per common unit, payable on November 17.
- Softening inventory levels and favorable pricing conditions indicate a positive outlook into 2026.