Investor Presentation February 2024 Forward-Looking Statements This presentation contains forward-looking statements ("FLS") which are protected as FLS under the PSLRA, and which are based on management's current expectations and beliefs, as well as a number of assumptions concerning future events. The assumptions and estimates underlying FLS are inherently uncertain and are subject to a wide variety of significant business and economic uncertainties and competitive risks that could cause actual results to ...

Shares of CVR Energy (NYSE: CVI ) have been a poor performer over the past year, as a weaker refining environment and high turnaround costs forced it to suspend its dividend. Shares have recently recovered nearly all the lossesOver fifteen years of experience making contrarian bets based on my macro view and stock-specific turnaround stories to garner outsized returns with a favorable risk/reward profile. If you want me to cover a specific stock or have a question for an article, just let me know!Analyst’s ...

Financial Data and Key Metrics Changes - For the first quarter of 2025, the company reported a consolidated net loss of $105 million and a loss per share of $1.22, with EBITDA also reflecting a loss of $61 million [5][13] - Adjusted EBITDA for the quarter was $24 million, while adjusted loss per share was $0.58 [13] - The negative mark to market impact on outstanding RFS obligations was $112 million, with a favorable inventory valuation impact of $24 million [13] Business Line Data and Key Metrics Changes - In the Petroleum segment, total throughput for Q1 2025 was approximately 125,000 barrels per day, with a light product yield of 95% [5][6] - Adjusted EBITDA for the Petroleum segment was a loss of $30 million, driven by reduced throughput volumes due to planned and unplanned downtime [13] - The Renewables segment achieved an adjusted EBITDA of $3 million, an improvement from a negative $5 million in the prior year, primarily due to higher throughput volumes and increased RIN prices [11][14] - The Fertilizer segment reported an adjusted EBITDA of $53 million, supported by higher UAN sales volumes and ammonia sales prices [14] Market Data and Key Metrics Changes - Group 3 2-1-1 benchmark cracks averaged $17.65 per barrel in Q1 2025, down from $19.55 per barrel in the same period last year [6] - Average RIN prices were approximately $0.84, an increase of over 25% from the previous year [6] - Days of gasoline supply were reported to be 12% below the five-year average, while diesel supply was 17% below [19] Company Strategy and Development Direction - The company plans to ramp up refinery operations to full rates over the second quarter of 2025, with no additional turnarounds planned until 2027 [6][17] - The company is focusing on reducing debt and restoring balance sheet leverage ratios while looking for ways to improve capture and reduce costs [25] - The company is optimistic about the potential for increased jet fuel production, which is not subject to RVO, thereby reducing annual RIN obligations [21][22] Management's Comments on Operating Environment and Future Outlook - Management noted that refining market conditions began to improve in Q1 2025, driven by a heavy spring maintenance season and refinery closures [18] - The company expressed confidence in recovering strong margins post-turnaround, despite challenges faced during the Coffeyville turnaround [46][47] - Management highlighted the importance of government support for renewable businesses, indicating a cautious approach to further investments in renewables without assurance of stable credits [56] Other Important Information - The company ended Q1 2025 with a consolidated cash balance of $695 million and total liquidity of approximately $894 million [16] - Significant cash uses included $94 million for capital and turnaround spending, and $113 million for working capital, primarily associated with inventory buildup during the turnaround [16] Q&A Session Summary Question: Understanding refining macro and demand resilience - Management indicated that days of supply have shrunk, suggesting a correcting supply-demand balance, with expectations for summer demand to influence gasoline and diesel markets [28] Question: RVO and SRE implications - Management believes decoupling D4 from D6 is important and criticized the government's handling of RFS, emphasizing the need for lower RIN prices to benefit consumers [31][32][33] Question: Renewable diesel EBITDA expectations - Management noted that RIN prices and feedstock costs are favorable, but emphasized the need for clarity on PTC rules before making further investments [36][37] Question: Jet expansion at Coffeyville - Management expressed confidence in securing contracts with major airlines as existing contracts expire, indicating a positive outlook for jet fuel demand [52] Question: Insider activity at the company - Management refrained from commenting on insider activity, suggesting inquiries should be directed to the individuals involved [80]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-33492 CVR ENERGY, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of ...

CVR Energy (CVI) Q1 2025 Earnings Call April 29, 2025 01:00 PM ET Company Participants Richard Roberts - VP - FP&A and IRDavid Lamp - President & CEODane Neumann - EVP, CFO, Treasurer & Assistant SecretaryManav Gupta - Executive DirectorMatthew Blair - Managing DirectorNeil Mehta - Head of Americas Natural Resources Equity ResearchJohn Royall - Executive Director Conference Call Participants Paul Cheng - Analyst Operator and welcome to the CVR Energy First Quarter twenty twenty five Conference Call. At this ...

CVR Energy (CVI) came out with a quarterly loss of $0.58 per share versus the Zacks Consensus Estimate of a loss of $0.90. This compares to earnings of $0.04 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 35.56%. A quarter ago, it was expected that this diversified holding company would post a loss of $0.65 per share when it actually produced a loss of $0.13, delivering a surprise of 80%.Over the last four quarters, the compa ...

Financial Performance - First quarter 2025 net loss attributable to CVR Energy stockholders was $123 million, or $1.22 per diluted share, compared to a net income of $82 million, or 81 cents per diluted share in Q1 2024[3]. - The company reported a net loss of $105 million for Q1 2025, compared to a net income of $90 million in Q1 2024, resulting in a basic and diluted loss per share of $1.22[39]. - Net sales for the three months ended March 31, 2025, were $1,646 million, a decrease of 11.6% compared to $1,863 million in the same period of 2024[39]. - Free cash flow for Q1 2025 was $(285) million, a decline from $121 million in Q1 2024, reflecting increased cash outflows[41]. - Consolidated cash and cash equivalents were $695 million at March 31, 2025, a decrease of $292 million from December 31, 2024; total debt was $1.9 billion[17]. Segment Performance - The Petroleum Segment reported a net loss of $160 million and an EBITDA loss of $119 million in Q1 2025, compared to net income of $127 million and EBITDA of $171 million in Q1 2024[5]. - Renewables Segment achieved a net income of less than $1 million and EBITDA of $6 million in Q1 2025, compared to a net loss of $10 million and EBITDA loss of $4 million in Q1 2024[10]. - Nitrogen Fertilizer Segment reported net income of $27 million and EBITDA of $53 million on net sales of $143 million for Q1 2025, compared to net income of $13 million and EBITDA of $40 million on net sales of $128 million in Q1 2024[13]. Operational Metrics - Combined total throughput for Q1 2025 was approximately 120,000 barrels per day, a decrease from approximately 196,000 bpd in Q1 2024, primarily due to the turnaround at the Coffeyville refinery[6]. - Total throughput for the company's refineries was 120,377 bpd in Q1 2025, a decrease from 195,792 bpd in Q1 2024, reflecting reduced operational capacity[47]. - Total vegetable oil throughput for Q1 2025 was approximately 156,000 gallons per day, up from approximately 76,000 gallons per day in Q1 2024[11]. - Renewable diesel production increased to 144,189 gallons per day in Q1 2025, up from 62,594 gallons per day in Q1 2024, reflecting a 130% growth[52]. - Renewable utilization rate improved to 61.9% in Q1 2025, compared to 30.0% in Q1 2024[52]. Pricing and Margins - Average realized gate prices for ammonia increased by 5% to $554 per ton in Q1 2025, while UAN prices decreased by 4% to $256 per ton[15]. - The refining margin for Q1 2025 was $(0.42) per throughput barrel, a sharp decline from $16.29 in Q1 2024, while the adjusted refining margin was $7.72 compared to $10.46 in the prior year[46]. - The renewables margin for Q1 2025 improved to $1.13 per vegetable oil throughput gallon, up from $0.65 in Q1 2024, indicating better performance in the renewables segment[51]. - Adjusted renewables margin rose to $13 million in Q1 2025, up from $3 million in Q1 2024, indicating a significant improvement in profitability[70]. Future Projections - Total throughput for petroleum is projected to be between 160,000 and 180,000 barrels per day in Q2 2025, with crude utilization expected between 82% and 90%[62]. - Direct operating expenses for renewables are estimated to be between $8 million and $10 million in Q2 2025[62].

First quarter net loss attributable to CVR Energy stockholders of $123 million; EBITDA loss of $61 million; adjusted EBITDA of $24 millionFirst quarter loss per diluted share of $1.22 and adjusted loss per diluted share of 58 centsCVR Energy will not pay a cash dividend for the first quarter of 2025CVR Partners announced a cash distribution of $2.26 per common unit SUGAR LAND, Texas, April 28, 2025 (GLOBE NEWSWIRE) -- CVR Energy, Inc. (NYSE: CVI, “CVR Energy” or the “Company”) today announced first quarter ...

CVR Energy, Inc. CVI is set to report its first-quarter earnings Monday after the bell, and Wall Street is bracing for a loss of $0.89 per share on revenue of $1.31 billion.The stock is down a rough 43.78% over the past year but has been showing signs of resilience lately, falling just 0.85% year-to-date and 6.05% in the past month. But while the scoreboard looks bruised, legendary investor Carl Icahn clearly sees an opening others are missing.Let's dig into what the charts are signaling and how Icahn’s bol ...

Group 1: Trade and Market Impact - Investors showed relief on April 22 due to signs of easing trade tensions, with hints from President Trump and Treasury Secretary Scott Bessent about potential reductions in the 145% tariffs on Chinese goods [1] - The positive developments regarding tariffs have led to a bullish market trend since April 22, with expectations of further gains as more tariff-related good news is anticipated [2] Group 2: Stock Screening and Recommendations - A screening process has been designed to identify stocks based on improving broker recommendations and upward revisions in earnings estimates over the past four weeks, incorporating the price/sales ratio as a complementary valuation metric [3] - The screening criteria include a net upgrade in ratings, percentage change in earnings estimates, price-to-sales ratio, stock price above $5, average daily volume over 100,000 shares, and market capitalization in the top 3000 [4][5] Group 3: Featured Stocks - Avis Budget operates as a leading vehicle rental operator with a fleet of nearly 695,000 vehicles, benefiting from strong demand in North America [6] - ABM Industries provides integrated facility solutions and has a strong earnings surprise history, with an average beat of 9.6% over the last four quarters [7] - CVR Energy focuses on renewable energy and petroleum refining, committed to developing renewable biofuels [9] - Delek US Holdings is an independent refiner with significant competitive advantages in the Permian Basin, achieving an average earnings beat of 22.3% [10][11] - Asbury Automotive Group's diversified product mix and e-commerce platform, Clicklane, are driving growth and improving its risk profile [11][12]