Quarterly ResultApr 29, 2026, 04:53 PM
CVI Q1 Net Loss $(192)M; Refinery Reverts to Hydrocarbon
AI Summary
CVR Energy Inc. reported a net loss attributable to stockholders of $(192) million for Q1 2026, a significant increase from $(123) million in Q1 2025, despite net sales rising to $1,980 million. The company completed a major debt refinancing, issuing $1 billion in new Senior Notes and redeeming $817 million of existing notes and a Term Loan. Additionally, CVR Energy reverted its Wynnewood refinery's renewable diesel unit back to hydrocarbon processing due to unfavorable economics.
Key Highlights
- Reverted Wynnewood refinery renewable diesel unit to hydrocarbon processing.
- Issued $1 billion in new 7.500% Senior Notes (due 2031) and 7.875% Senior Notes (due 2034).
- Redeemed $600 million of 8.500% Senior Notes (due 2029) and $217 million of 5.750% Senior Notes (due 2028).
- Repaid Term Loan facility of $157 million.
- Q1 2026 Net Loss attributable to stockholders $(192)M vs $(123)M in Q1 2025.
- Q1 2026 Net Sales $1,980M, up from $1,646M in Q1 2025.
- Q1 2026 Operating Activities generated $64M cash vs $(195)M cash used in Q1 2025.
- Accrued RFS obligation increased to $204M from $72M at Dec 31, 2025.
Price Impact
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