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Cvr Energy Inc. (CVI)
NYSE:CVI
Earnings Data
Report Date
May 04, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
-0.15Last Year’s EPS
-0.58Same Quarter Last Year
Moderate Sell
Based on 4 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents a mix of meaningful multi-quarter positives—full-year profitability (net income $90M), strong annual EBITDA ($591M), a marked recovery in petroleum segment adjusted EBITDA, improved liquidity and deleveraging actions, and clear strategic plans to optimize commercial capture and pursue disciplined M&A. However, the fourth quarter was negatively impacted by several significant, partly one-time items (accelerated depreciation from the RDU reversion, inventory valuation hit, elevated RIN purchases and expense, and operational downtime at Coffeyville) that produced a sizeable GAAP loss and depressed free cash flow in the quarter. Management provided forward-looking guidance that implies operational recovery in early 2026 (fertilizer utilization 95–100% and Petroleum throughput guidance) and stronger balance sheet flexibility from recent financings, which supports a constructive outlook despite the near-term headwinds.Company Guidance
Full Year Profitability and Strong Annual EBITDA
For full year 2025 CVR Energy reported consolidated net income of $90 million and EBITDA of $591 million, demonstrating overall annual profitability despite a weak fourth quarter.
Petroleum Segment Outperformance (Q4 Adjusted)
Adjusted EBITDA in the Petroleum segment for Q4 2025 was $73 million versus $9 million in Q4 2024, an increase of approximately 711%, driven by higher crack spreads and increased throughput. Combined total throughput for the quarter was ~218,000 barrels per day and crude utilization was ~97% of nameplate capacity with a light product yield of 92%.
Adjusted Q4 Performance Excluding One-Time Impacts
Q4 2025 adjusted EBITDA (excluding inventory valuation, RFS liability change and unrealized derivative items) was $91 million and adjusted loss per share was $0.80, improving the view of underlying operations versus GAAP Q4 results.
Deleveraging and Enhanced Liquidity
Management reduced debt by over $165 million in 2025, completed a $1.0 billion senior notes offering to extend maturities, repaid the term loan and redeemed select notes. Total liquidity as of Dec 31 (ex-CVR Partners) was approximately $690 million, cash balance was $511 million, and the ABL commitment was upsized from $345 million to $550 million (maturity extended to 2031).
Capital Allocation and 2026 Investment Plan
Total consolidated capital spending in 2025 was $197 million (Petroleum $135M, Fertilizer $57M, Renewable $4M). FY2026 capex is estimated at $200–$240 million with growth capex of $75–$90 million, including peak spending for the Wynnewood alkylation project and fertilizer reliability/debottlenecking investments.
Strategic Initiatives and Commercial Optimization
New CEO emphasized focus on safe, reliable operations, commercial optimization (including reversion of the renewable diesel unit to hydrocarbon processing to expand crude slate flexibility), potential WCS ramp at Coffeyville (targeting up to ~20,000 bpd vs <1,000 bpd in 2025), and a more proactive but disciplined M&A posture across refining and fertilizer businesses.
Fertilizer Market Tailwinds & Operational Recovery Outlook
Management cited a record corn crop in 2025 and expected ~95 million acres of corn planting in 2026 supporting strong nitrogen fertilizer demand. Prompt fertilizer prices were cited (ammonia ~$700/tonne, UAN ~$350/tonne) and management expects fertilizer ammonia utilization to rebound to 95–100% in Q1 2026.
Operational Capture and Market Opportunities
Realized petroleum margin (adjusted) in Q4 was $9.92 per barrel representing a 44% capture rate on the Group 3 2-1-1 benchmark. Management highlighted positive Mid-Con outlook from new pipeline outlets and recent market dislocations (e.g., Venezuelan heavy barrels) that can create margin capture opportunities.
CVI Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
CVI Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 18, 2026 | $22.36 | $21.59 | -3.44% |
Oct 29, 2025 | $39.18 | $37.10 | -5.31% |
Jul 30, 2025 | $28.27 | $26.78 | -5.27% |
Apr 28, 2025 | $18.71 | $19.48 | +4.12% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Cvr Energy Inc. (CVI) report earnings?
Cvr Energy Inc. (CVI) is schdueled to report earning on May 04, 2026, After Close (Confirmed).
What is Cvr Energy Inc. (CVI) earnings time?
Cvr Energy Inc. (CVI) earnings time is at May 04, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CVI EPS forecast?
CVI EPS forecast for the fiscal quarter 2026 (Q1) is -0.15.
