Financial Performance - Net sales for the three months ended March 31, 2025, increased to $142,866,000, up 11.9% from $127,665,000 in the same period of 2024[19] - Operating income rose significantly to $34,589,000, compared to $20,059,000 in the prior year, reflecting a 72.3% increase[19] - Net income for the first quarter of 2025 was $27,088,000, more than double the $12,579,000 reported in the same quarter of 2024, representing a 115.5% increase[19] - Basic and diluted earnings per common unit increased to $2.56, up from $1.19 in the prior year, marking a 115.9% rise[19] - Total revenue for the three months ended March 31, 2025, was $142.9 million, an increase of 11.9% compared to $127.7 million for the same period in 2024[45] - For the three months ended March 31, 2025, the company's operating income was $34.6 million, up from $20.1 million in the same period in 2024, and net income increased to $27.1 million from $12.6 million[100] - EBITDA and Adjusted EBITDA for Q1 2025 were $52.9 million, up from $39.5 million in Q1 2024, reflecting a 33.8% increase[114] Assets and Liabilities - Total current assets as of March 31, 2025, were $247,108,000, an increase of 5.8% from $233,541,000 at the end of 2024[17] - Cash and cash equivalents increased to $121,775,000 from $90,857,000, reflecting a 34.1% increase[17] - Total liabilities decreased slightly to $712,293,000 from $725,654,000, a reduction of 1.8%[17] - Long-term debt and finance lease obligation, including current portion, was $570.0 million as of March 31, 2025, slightly up from $568.9 million as of December 31, 2024[42] - As of March 31, 2025, total long-term debt was $548.0 million, consistent with the previous quarter[120] Cash Flow - Cash flows from operating activities for the first quarter of 2025 were $55,391,000, compared to $42,417,000 in the same period of 2024, indicating a 30.6% increase[25] - Total liquidity as of March 31, 2025, was $171.8 million, compared to $129.8 million as of December 31, 2024, indicating a 32.3% increase[119] - Cash flow from operating activities for Q1 2025 was $55.4 million, an increase of $13.0 million or 30.6% compared to $42.4 million in Q1 2024[130] Capital Expenditures - The partnership's capital expenditures for the first quarter of 2025 were $9,871,000, compared to $8,095,000 in the same period of 2024, reflecting a 21.9% increase[25] - Total capital expenditures for Q1 2025 were $5.9 million, with estimated full-year expenditures projected between $50 million and $60 million[123] - Maintenance capital expenditures for Q1 2025 were $3.7 million, with full-year estimates ranging from $40 million to $45 million[123] - Growth capital expenditures for Q1 2025 were $2.2 million, with full-year estimates projected between $10 million and $15 million[123] - The next planned turnaround at the Coffeyville Facility is scheduled for Q4 2025, costing approximately $15 million[124] Inventory and Expenses - Total inventories as of March 31, 2025, were $80.4 million, up from $75.6 million as of December 31, 2024, reflecting a 6.4% increase[36] - The cost of materials and other increased to $27.9 million in Q1 2025 from $25.3 million in Q1 2024, mainly due to higher natural gas prices and freight expenses[106] - Direct operating expenses decreased to $54.5 million in Q1 2025 from $55.7 million in Q1 2024, attributed to lower repairs and maintenance costs[107] Related Party Transactions - Sales to related parties rose to $1,118,000 in Q1 2025, compared to $639,000 in Q1 2024, indicating increased intercompany transactions[58] - Expenses from related parties decreased slightly to $9,916,000 in Q1 2025 from $10,855,000 in Q1 2024, showing a reduction in costs associated with related entities[59] - The Partnership's due to related parties decreased to $4,969,000 as of March 31, 2025, down from $6,213,000 at the end of 2024, reflecting better liquidity management[58] Market and Industry Outlook - The anticipated combination of increasing global population and decreasing arable land per capita supports long-term fundamentals for the U.S. nitrogen fertilizer industry[76] - Regulatory changes, including the EPA's renewable volume obligations, are expected to maintain strong demand for corn, supporting the use of nitrogen-based fertilizers[73] - Geopolitical risks, including the ongoing Russia-Ukraine conflict, may disrupt production and trade in the fertilizer industry, impacting future operations[72] - In spring 2025, farmers are estimated to plant 95.3 million corn acres, a 5.0% increase from 90.7 million acres in 2024, while soybean acres are expected to decrease by 4.1% to 83.5 million acres[79] Operational Improvements - The Partnership aims to achieve industry-leading utilization rates at both manufacturing facilities, focusing on operational improvements and cost reductions[71] - The company plans to execute debottlenecking projects in 2025 to improve reliability and expand production capabilities, including a nitrous oxide abatement unit installation[87] - The partnership is exploring the use of natural gas as an optional feedstock at its Coffeyville Facility, which could enhance ammonia production flexibility[85] - The ammonia utilization rate improved to 101% for the three months ended March 31, 2025, compared to 90% in the same period in 2024, primarily due to planned outages in 2024[96] Compensation and Distributions - Total quarterly distributions for 2025 were declared at $1.75 per common unit, totaling approximately $18.5 million, consistent with the previous quarter's distribution[61] - The Partnership declared a distribution of $2.26 per common unit for Q1 2025, totaling approximately $23.9 million, payable on May 19, 2025[129] - The Compensation Committee adopted the 2025 Performance Based Bonus Plan, which requires achieving at least 50% of an Adjusted EBITDA Threshold for bonus payments[141] - The EBITDA multiplier for the Partnership's performance measures will range from 50% to 150% based on Adjusted EBITDA achieved relative to the threshold[141] - The 2025 UAN Plan will be filed with the Quarterly Report on Form 10-Q for the period ending June 30, 2025[141]

Financial Data and Key Metrics Changes - For Q1 2025, the company reported net sales of $143 million, net income of $27 million, and EBITDA of $53 million, with a declared distribution of $2.26 per common unit [5][8] - Compared to Q1 2024, EBITDA increased primarily due to higher UAN sales volumes and higher market prices for ammonia, along with lower pet coke feedstock costs [8][6] - Direct operating expenses for Q1 2025 were $54 million, with an increase of approximately $1 million relative to Q1 2024, mainly due to higher natural gas and electricity costs [8][9] Business Line Data and Key Metrics Changes - Combined ammonia production for Q1 2025 was 216,000 gross tons, with 64,000 net tons available for sale, and UAN production was 348,000 tons [5][6] - The company sold approximately 336,000 tons of UAN at an average price of $256 per ton and approximately 60,000 tons of ammonia at an average price of $554 per ton [6][8] - Ammonia prices increased by 5% year-over-year, while UAN prices declined by 4% due to delayed shipments [6][11] Market Data and Key Metrics Changes - The USDA estimates that farmers will plant approximately 95 million acres of corn and 83 million acres of soybeans in spring 2025, with inventory carryout levels for corn at approximately 109% for soybeans [11][12] - Current grain prices are $4.75 per bushel for corn and $10.50 for soybeans, which are below the ten-year averages, supporting strong demand for nitrogen fertilizer [11][12] - The company anticipates that tight nitrogen fertilizer inventories and solid demand will support continued price increases for the spring [6][11] Company Strategy and Development Direction - The company is focused on reliability and performance, with ongoing projects aimed at reducing downtime and improving production rates [18][19] - Plans include installing a nitrous oxide abatement unit at the Coffeyville plant and utilizing natural gas as an alternative feedstock [17][18] - The company expects 2025 to be a period of higher volatility, influenced by geopolitical risks and natural gas market issues in Europe [15][17] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for a strong planting season due to favorable weather and attractive farmer economics [6][11] - Concerns were raised about the potential impact of tariffs on fertilizer and grains, which could lead to higher domestic prices [12][14] - The company expects to see higher UAN prices in Q2 2025, reflecting current market conditions [32] Other Important Information - The company ended Q1 2025 with total liquidity of $172 million, consisting of $122 million in cash and $50 million available under the ABL facility [9] - Capital spending for 2025 is estimated to be between $50 million and $60 million, with a significant portion funded through cash reserves [9][10] Q&A Session Summary Question: Can you discuss the step down in utilization rates from Q1? - Management explained that the step down is due to the installation of a new control system at the East Dubuque facility, not a performance issue [23][24] Question: What is the status of growth projects and their impact on ammonia production? - Management indicated that several projects aim to reduce downtime and potentially expand nameplate capacity, leading to increased production over the next two to three years [25][26] Question: Can you provide a cost estimate for the natural gas project? - Management mentioned that the cost is expected to be in the low double-digit millions, with ongoing evaluations of alternatives [27][28] Question: Should we expect more reserves for future operating needs? - Management clarified that reserves are being set aside for growth projects and to ensure cash availability for future capital expenditures [29][30] Question: Will UAN pricing improve in Q2? - Management confirmed that UAN prices are expected to reflect higher market prices in Q2, following an increase since December [32] Question: How will the tight inventory impact summer fill pricing? - Management expressed optimism that tight inventory levels will bode well for summer fill pricing for both ammonia and UAN [33][34] Question: What is the perspective on the pricing divergence between urea and ammonia? - Management noted that the pricing gap is influenced by regional market conditions and supply-demand dynamics, with strong demand for urea and UAN [35][36] Question: How will China's reduced corn purchases affect American farmers? - Management indicated that Mexico is a more significant buyer of corn, and while China may reduce soybean purchases, global demand for corn and soybeans remains strong [39][40]

Exhibit 99.1 CVR Partners Reports First Quarter 2025 Results SUGAR LAND, Texas (April 28, 2025) – CVR Partners, LP (NYSE: UAN, "CVR Partners" or the "Partnership"), a manufacturer of ammonia and urea ammonium nitrate ("UAN") solution fertilizer products, today announced net income of $27 million, or $2.56 per common unit, and EBITDA of $53 million on net sales of $143 million for the first quarter of 2025, compared to net income of $13 million, or $1.19 per common unit, and EBITDA of $40 million on net sale ...

First quarter net income of $27 million, or $2.56 per common unit; EBITDA of $53 millionAnnounced cash distribution of $2.26 per common unit SUGAR LAND, Texas, April 28, 2025 (GLOBE NEWSWIRE) -- CVR Partners, LP (NYSE: UAN, “CVR Partners” or the “Partnership”), a manufacturer of ammonia and urea ammonium nitrate (“UAN”) solution fertilizer products, today announced net income of $27 million, or $2.56 per common unit, and EBITDA of $53 million on net sales of $143 million for the first quarter of 2025, compa ...

SUGAR LAND, Texas, April 15, 2025 (GLOBE NEWSWIRE) -- CVR Partners, LP (NYSE: UAN), a manufacturer of ammonia and urea ammonium nitrate (UAN) solution fertilizer products, plans to release its first quarter 2025 earnings results on Monday, April 28, after the close of trading on the New York Stock Exchange. The Partnership also will host a teleconference call on Tuesday, April 29, at 11 a.m. Eastern to discuss these results. This call, which will contain forward-looking information, will be webcast live and ...

Financial Data and Key Metrics Changes - For Q4 2024, the company reported net sales of $140 million, net income of $18 million, and EBITDA of $50 million [8] - Full year 2024 results included net sales of $525 million, operating income of $90 million, net income of $61 million, and EBITDA of $179 million [14] - The fourth quarter distribution was declared at $1.75 per common unit, with full year distributions totaling $6.76 per common unit [9][14] Business Line Data and Key Metrics Changes - Ammonia utilization rate for the year was 96%, with a record 102% at East Dubuque [9][10] - Total ammonia production for Q4 2024 was 210,000 gross tons, with 80,000 net tons available for sale [11] - UAN production reached 310,000 tons, sold at an average price of $229 per ton, while ammonia was sold at an average price of $475 per ton [11] Market Data and Key Metrics Changes - Ammonia sales volumes were stable, while UAN sales volumes decreased by approximately 3% due to challenging weather conditions [12] - Prices for ammonia increased by approximately 3%, while UAN prices declined by about 5% compared to Q4 2023 [12] - The market for nitrogen fertilizer products is tight, with strong demand anticipated for the spring planting season [13] Company Strategy and Development Direction - The company is focused on improving reliability and redundancy at its plants, with capital reserved for projects over the next two to three years [29] - Plans to utilize natural gas as an alternative feedstock to pet coke are underway, which could enhance operational flexibility [25][26] - The company aims to operate plants at utilization rates above 95% of nameplate capacity, excluding turnaround impacts [27] Management Comments on Operating Environment and Future Outlook - Management noted that geopolitical risks could impact the nitrogen fertilizer industry, particularly regarding energy and fertilizer markets [22] - The USDA estimates record high corn yields, which may drive demand for nitrogen fertilizer [19] - The company expects continued volatility in the market and is monitoring potential tariffs on foreign fertilizer imports [23] Other Important Information - The company reported a 40% reduction in total recordable incident rate compared to 2023, indicating improved safety metrics [10] - Total liquidity at the end of the quarter was $130 million, consisting of $91 million in cash and $39 million available under the ABL facility [17] Q&A Session Summary Question: Changes in customer ordering patterns due to Fed rate changes - Management indicated no significant change in customer ordering patterns, with continued ratable buying observed [33] Question: Timing of the Coffeyville project - The dual fuel project is expected to be approved and potentially executed in 2026, with construction starting this year if approved [39][40] Question: Impact of UAN demand due to higher urea prices - Management noted that tight urea supply has lifted both UAN and ammonia prices, with expectations of increased corn acreage leading to higher demand for nitrogen fertilizers [52][54] Question: Trends towards UAN versus ammonia usage - There is no significant trend towards UAN over ammonia; pricing dynamics will influence customer choices [58] Question: UAN presales for Q1 and Q2 2025 - Management confirmed a solid book of business for UAN and ammonia, with customers seeking more than what is available [61] Question: CapEx outlook for the year - Management expects no substantial change in reserves for CapEx, maintaining a comparable level for growth projects [65]

Core Insights - CVR Partners, LP has filed its annual report on Form 10-K for the fiscal year ended December 31, 2024, with the SEC [1] - The annual report includes complete audited financial statements and is available for free on the company's website [2] Company Overview - CVR Partners, LP is headquartered in Sugar Land, Texas, and is a Delaware limited partnership focused on nitrogen fertilizer production, marketing, and distribution [2] - The company primarily produces urea ammonium nitrate (UAN) and ammonia, which are essential for improving crop yield and quality [2] - The Coffeyville, Kansas facility has a production capacity of 1,300 tons per day for ammonia and 3,100 tons per day for UAN, along with a gasifier complex capable of producing 89 million standard cubic feet per day of hydrogen [2] - The East Dubuque, Illinois facility has a production capacity of 1,075 tons per day for ammonia and 950 tons per day for UAN [2]

Market Risk and Commodity Prices - The company reported a significant exposure to market risk due to potential changes in prices for fertilizer products, pet coke, and natural gas, which are critical raw materials for production [291]. - A $1.00 per MMBtu change in the price of natural gas would affect the cost to produce a ton of ammonia and UAN by approximately $14.29 and $5.86, respectively [293]. - A $1.00 per ton change in the price of pet coke would change the cost to produce a ton of ammonia and UAN by approximately $0.66 and $0.27, respectively [293]. - The company is exposed to risks from changes in market conditions, including fluctuations in fertilizer, natural gas, and other commodity prices, which can impact operating results [22]. - The company’s ability to generate distributable cash or make cash distributions on common units is influenced by market volatility and commodity prices [22]. - The company acknowledges the potential impact of climate change and environmental regulations on demand for its products, which could affect future growth [27]. Financial Performance - Net sales for the year ended December 31, 2024, were $525.3 million, a decrease of 22.9% compared to $681.5 million in 2023 [314]. - Operating income for 2024 was $90.4 million, down 55.1% from $201.4 million in 2023 [314]. - The company reported a net income of $60.9 million for 2024, a decline of 64.7% from $172.4 million in 2023 [314]. - Basic and diluted earnings per common unit decreased to $5.76 in 2024 from $16.31 in 2023, representing a decline of 64.7% [314]. - Net income for the year ended December 31, 2024, was $60.9 million, a decrease of 64.7% compared to $172.4 million in 2023 [320]. - Total revenue for the year ended December 31, 2024, was $525.3 million, a decrease of 22.9% from $681.5 million in 2023 [400]. - Revenue from ammonia products was $130.0 million in 2024, down 19.5% from $161.0 million in 2023 [400]. - UAN revenue decreased by 27.7% to $312.0 million in 2024 from $431.5 million in 2023 [400]. Assets and Liabilities - As of December 31, 2024, total assets increased to $1,018.7 million from $975.3 million in 2023, reflecting a growth of approximately 4.4% [311]. - Total current liabilities rose to $111.3 million in 2024, compared to $75.5 million in 2023, marking an increase of 47.5% [311]. - Long-term debt and finance lease obligations increased to $568.0 million in 2024 from $547.3 million in 2023, reflecting a rise of 3.8% [311]. - The total long-term debt and finance lease obligations, including the current portion, was $568.9 million as of December 31, 2024, compared to $547.3 million in 2023 [388]. - The Partnership recognized total other current liabilities of $24.0 million as of December 31, 2024, up from $20.9 million in 2023 [386]. Cash Flow and Distributions - Cash and cash equivalents increased to $90.9 million in 2024, up from $45.3 million in 2023, indicating a growth of 100.5% [311]. - Net cash provided by operating activities was $150.5 million, down 38.2% from $243.5 million in 2023 [320]. - Cash distributions to common unitholders (affiliates) were $26.0 million, a decrease of 74.9% from $103.6 million in 2023 [320]. - The total quarterly distributions paid in 2024 reached $70,710,000, with an average distribution per common unit of $6.69 [436]. - For the fourth quarter of 2024, the Partnership declared a distribution of $1.75 per common unit, totaling $18.5 million, payable to unitholders [438]. Operational and Market Conditions - The company’s operations are subject to the volatile, cyclical, and seasonal nature of the nitrogen fertilizer market, which can impact financial performance [22]. - The company faces risks related to the dependence on a few third-party suppliers for feedstocks and transportation services, which could affect operational stability [22]. - The company’s production levels and pricing are subject to significant competition in the nitrogen fertilizer business, which can affect market share and profitability [22]. - The Partnership's nitrogen fertilizer products are primarily sold on a wholesale basis in the United States [323]. Capital Expenditures and Investments - Capital expenditures for 2024 totaled $37.1 million, an increase from $24.2 million in 2023 [320]. - The Partnership incurred capitalized interest of $1.0 million in 2024, compared to $0.5 million in 2023, showing an increase in financing costs associated with capital projects [369]. - The Partnership's total unconditional purchase obligations amount to $57.5 million, with $3.9 million due in each of the next five years [417]. Compliance and Governance - The company maintained effective internal control over financial reporting as of December 31, 2024, according to the auditor's opinion [304]. - The Partnership's compliance with all covenants under debt instruments was confirmed as of December 31, 2024 [399]. - The Board's distribution policy allows for quarterly distributions based on available cash, subject to change at the Board's discretion [435].

Financial Performance - For Q4 2024, CVR Partners reported net income of $18 million, or $1.73 per common unit, and EBITDA of $50 million on net sales of $140 million, compared to net income of $10 million, or $0.94 per common unit, and EBITDA of $38 million on net sales of $142 million in Q4 2023[2][3]. - For the full year 2024, net income was $61 million, or $5.76 per common unit, with EBITDA of $179 million on net sales of $525 million, down from net income of $172 million, or $16.31 per common unit, and EBITDA of $281 million on net sales of $681 million in 2023[3][9]. - Total net sales for the year ended December 31, 2024, were $525,324,000, a decrease of 22.9% compared to $681,477,000 in 2023[26]. - Fertilizer sales for the three months ended December 31, 2024, were $125,818,000, down from $127,663,000 in the same period of 2023, representing a decline of 1.3%[26]. - Net income for the year ended December 31, 2024, was $60,900,000, a decrease of 64.7% compared to $172,433,000 in 2023[37]. - Available cash for distribution for the year ended December 31, 2024, was $71,511,000, down from $188,193,000 in 2023, a decline of 62%[40]. Production and Utilization - CVR Partners achieved a combined ammonia production rate of 96% for the full year 2024, producing 836,000 tons of ammonia, with 270,000 net tons available for sale[9][8]. - In Q4 2024, CVR Partners produced 210,000 tons of ammonia, with 80,000 net tons available for sale, compared to 205,000 tons produced in Q4 2023[6][4]. - The ammonia utilization rate for the year ended December 31, 2024, was 96%, slightly down from 100% in 2023[31]. - The company expects ammonia utilization rates for Q1 2025 to range between 95% and 100%[36]. Pricing and Market Conditions - The average realized gate price for UAN decreased by 20% to $248 per ton in 2024, while ammonia prices fell by 16% to $479 per ton compared to 2023[9]. - The average price of ammonia in the Southern plains decreased to $526 per ton in Q4 2024, down from $648 per ton in Q4 2023, a decline of 18.8%[34]. - The company noted strong nitrogen fertilizer demand in Q4 2024, despite challenging weather conditions, with higher prices compared to Q3 2024[4][5]. Cash Flow and Expenditures - Cash and cash equivalents increased to $90,857,000 as of December 31, 2024, compared to $45,279,000 in 2023, reflecting a growth of 100.7%[27]. - Operating activities generated net cash flows of $12,791,000 for the three months ended December 31, 2024, compared to a cash outflow of $17,863,000 in 2023[28]. - Total capital expenditures for the year ended December 31, 2024, were $37,063,000, an increase of 27.5% from $29,081,000 in 2023[29]. Distributions - The company declared a Q4 2024 cash distribution of $1.75 per common unit, totaling $6.76 per common unit for the year[10][9]. - The board of directors declared a cash distribution to be paid on March 10, 2025, to common unitholders of record as of March 3, 2025[10][9].

Core Insights - CVR Partners reported a net income of $18 million, or $1.73 per common unit, for Q4 2024, an increase from $10 million, or 94 cents per common unit, in Q4 2023 [1] - For the full year 2024, net income was $61 million, or $5.76 per common unit, down from $172 million, or $16.31 per common unit, in 2023 [2] - The company achieved an EBITDA of $50 million on net sales of $140 million for Q4 2024, compared to an EBITDA of $38 million on net sales of $142 million in Q4 2023 [1][2] Financial Performance - Q4 2024 net sales were $140 million, slightly down from $142 million in Q4 2023 [1] - Full-year 2024 net sales totaled $525 million, a decrease from $681 million in 2023 [2] - EBITDA for full-year 2024 was $179 million, down from $281 million in 2023 [2] Operational Highlights - The ammonia production rate for 2024 was 96%, consistent with the previous year [3][11] - In Q4 2024, the company produced 210,000 tons of ammonia, with 80,000 tons available for sale, compared to 205,000 tons produced in Q4 2023, with 75,000 tons available for sale [5][6] - For the full year 2024, total ammonia production was 836,000 tons, slightly down from 864,000 tons in 2023 [7] Pricing and Market Conditions - Average realized gate prices for UAN decreased by 5% to $229 per ton in Q4 2024, while ammonia prices increased by 3% to $475 per ton [6] - For the full year 2024, UAN prices fell by 20% to $248 per ton, and ammonia prices decreased by 16% to $479 per ton compared to 2023 [8] - The CEO noted that despite challenging weather conditions, nitrogen fertilizer demand remained strong in Q4 2024, with favorable market conditions expected for the spring planting season [3][4] Distributions - The board declared a cash distribution of $1.75 per common unit for Q4 2024, to be paid on March 10, 2025 [4][9] - Cumulative cash distributions for 2024 reached $6.76 per common unit [11]