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CVR Energy Reports First Quarter 2025 Results
Globenewswire· 2025-04-28 21:07
Financial Performance - CVR Energy reported a first quarter 2025 net loss attributable to stockholders of $123 million, or $1.22 per diluted share, compared to a net income of $82 million, or 81 cents per diluted share in the first quarter of 2024 [1][10] - Adjusted loss for the first quarter of 2025 was 58 cents per diluted share, compared to adjusted earnings of 4 cents in the first quarter of 2024 [1][10] - The company's EBITDA loss for the first quarter of 2025 was $61 million, down from an EBITDA of $203 million in the same period of 2024 [1][10] Segment Performance - The Petroleum Segment reported a first quarter 2025 net loss of $160 million and an EBITDA loss of $119 million, compared to a net income of $127 million and EBITDA of $171 million for the first quarter of 2024 [3][11] - The Renewables Segment achieved a net income of less than $1 million and EBITDA of $6 million for the first quarter of 2025, improving from a net loss of $10 million and EBITDA loss of $4 million in the first quarter of 2024 [7][9] - The Nitrogen Fertilizer Segment reported net income of $27 million and EBITDA of $53 million on net sales of $143 million for the first quarter of 2025, compared to net income of $13 million and EBITDA of $40 million on net sales of $128 million for the first quarter of 2024 [11] Operational Metrics - Combined total throughput for the first quarter of 2025 was approximately 120,000 barrels per day, down from approximately 196,000 barrels per day in the first quarter of 2024, primarily due to the turnaround at the Coffeyville refinery [4][46] - The refining margin for the first quarter of 2025 was $(5) million, or (42) cents per total throughput barrel, compared to $290 million, or $16.29 per total throughput barrel during the same period in 2024 [5][45] - The Renewables margin was $16 million, or $1.13 per vegetable oil throughput gallon, for the first quarter of 2025, compared to $4 million, or 65 cents per vegetable oil throughput gallon, for the first quarter of 2024 [9][49] Cash and Debt Position - Consolidated cash and cash equivalents were $695 million at March 31, 2025, a decrease of $292 million from December 31, 2024 [15] - Total debt and finance lease obligations were $1.9 billion at March 31, 2025, including $570 million held by the Nitrogen Fertilizer Segment [15][39] Market Indicators - Average realized gate prices for ammonia increased by 5 percent to $554 per ton in the first quarter of 2025, while UAN prices decreased by 4 percent to $256 per ton [13][55] - The West Texas Intermediate (WTI) crude oil price averaged $71.42 per barrel in the first quarter of 2025, down from $76.91 per barrel in the same period of 2024 [48]
CENAQ ENERGY(CENQ) - Prospectus(update)
2023-05-25 21:47
As filed with the Securities and Exchange Commission on May 25, 2023 Registration No. 333-271360 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 2 TO FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 ____________________ VERDE CLEAN FUELS, INC. (Exact name of registrant as specified in its charter) ____________________ (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial Classification Code Number) Delaware 2860 85-1 ...
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2023-05-25 21:47
As filed with the Securities and Exchange Commission on May 25, 2023 Registration No. 333-271360 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 2 TO FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 ____________________ VERDE CLEAN FUELS, INC. (Exact name of registrant as specified in its charter) ____________________ (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial Classification Code Number) Delaware 2860 85-1 ...
CENAQ ENERGY(CENQ) - Prospectus(update)
2023-05-08 21:22
As filed with the Securities and Exchange Commission on May 8, 2023 Registration No. 333-271360 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 1 TO FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 ____________________ VERDE CLEAN FUELS, INC. (Exact name of registrant as specified in its charter) ____________________ (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial Classification Code Number) Delaware 2860 85-18 ...
Verde Clean Fuels(VGAS) - Prospectus(update)
2023-05-08 21:22
As filed with the Securities and Exchange Commission on May 8, 2023 Registration No. 333-271360 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 1 TO FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 ____________________ VERDE CLEAN FUELS, INC. (Exact name of registrant as specified in its charter) ____________________ (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial Classification Code Number) Delaware 2860 85-18 ...
Verde Clean Fuels(VGAS) - Prospectus
2023-04-20 21:19
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 As filed with the Securities and Exchange Commission on April 20, 2023 Registration No. 333- ____________________ VERDE CLEAN FUELS, INC. (Exact name of registrant as specified in its charter) ____________________ Ernie Miller Chief Executive Officer and Interim Chief Financial Officer c/o Verde Clean Fuels, Inc. 600 Travis Street, Suite 5050 Houston, Texas 77002 (469) 398 ...
CENAQ ENERGY(CENQ) - Prospectus
2023-04-20 21:19
FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 ____________________ VERDE CLEAN FUELS, INC. (Exact name of registrant as specified in its charter) ____________________ (State or other jurisdiction of incorporation or organization) Delaware 2860 85-1863331 (Primary Standard Industrial Classification Code Number) As filed with the Securities and Exchange Commission on April 20, 2023 Registration No. 333- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Ernie Miller Chi ...