Quarterly ResultApr 29, 2026, 04:55 PM
CVR Energy Q1 Net Loss $(192)M; EPS $(1.91); $1B Notes Issued
AI Summary
CVR Energy reported a net loss attributable to stockholders of $(192) million, or $(1.91) per share, for Q1 2026, compared to a net loss of $(123) million, or $(1.22) per share, in Q1 2025. Net sales increased to $1,980 million from $1,646 million year-over-year. The company completed a significant debt refinancing, issuing $1 billion in new senior notes and redeeming $817 million of existing senior notes and a term loan, incurring a $28 million loss on extinguishment of debt.
Key Highlights
- Net loss attributable to CVI stockholders $(192)M vs $(123)M YoY.
- Basic and diluted loss per share $(1.91) vs $(1.22) YoY.
- Net sales increased to $1,980M from $1,646M YoY.
- Issued $1B in 7.500% Senior Notes due 2031 and 7.875% Senior Notes due 2034.
- Redeemed $600M of 8.500% Senior Notes due 2029 and $217M of 5.750% Senior Notes due 2028.
- Repaid $157M Term Loan principal balance.
- Recognized $28M loss on extinguishment of debt in Q1 2026.
- Petroleum Segment revenue $1,800M vs $1,475M YoY.
- Nitrogen Fertilizer Segment revenue $180M vs $143M YoY.
Price Impact
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