CVR Partners(US:UAN) Globenewswire·2025-02-18 21:58Core 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]