CVR Partners, LP Q3 2026 Earnings Recap

CVR Partners fell 4.9% after earnings, as the quarter’s loss and lower year-over-year EBITDA underscored the impact of turnaround costs and weaker UAN pricing. The planned East Dubuque outage also reduced production and sales volumes, though management cited firmer fertilizer markets and improving pricing.

Key Takeaways

• Third-quarter net sales were $146 million; the partnership recorded an $11 million net loss, or $1.02 per common unit, and $20 million of EBITDA.
• EBITDA declined from the prior-year quarter, primarily due to approximately $27 million of turnaround expenses, lower UAN sales prices and slightly lower sales volumes.
• UAN sales prices fell approximately 11% year over year to an average of $309 per ton; ammonia prices rose approximately 20% to an average of $637 per ton.
• Ammonia plant utilization was 80%, affected by the East Dubuque turnaround, which began in late August and was completed in October. Fourth-quarter utilization is estimated at 88%–93%.
• The board declared a $1.79-per-unit distribution. Management expects 2026 capital spending of approximately $95 million–$104 million and reported $203 million of total liquidity at quarter-end.