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CVR Partners
(NYSE:UAN)
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Rating:72Outperform
Price Target:
$136.00
▲(10.52% Upside)
Action:Reiterated
Date:07/30/26
Overall score is driven primarily by strong current profitability and cash flow, supported by favorable valuation (high yield with a moderate P/E). Offsetting factors include balance-sheet leverage and cyclical exposure, plus near-term operational headwinds from the planned Q3 turnaround that may pressure utilization and costs.
Positive Factors
Strong cash generation
Trailing‑12‑month operating cash flow and free cash flow are robust, with OCF covering net income ~1.72x. That durable cash conversion supports distributions, funds maintenance and growth projects from reserves, and provides a buffer through cyclical downturns.
Negative Factors
High leverage
Leverage materially amplifies returns in good cycles but constrains flexibility if fertilizer prices or volumes fall. Above‑average financial risk limits ability to absorb shocks, could force reduced distributions or deferred projects if a sustained downturn occurs.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation
Trailing‑12‑month operating cash flow and free cash flow are robust, with OCF covering net income ~1.72x. That durable cash conversion supports distributions, funds maintenance and growth projects from reserves, and provides a buffer through cyclical downturns.
Read all positive factors
CVR Partners (UAN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.36B
Dividend Yield9.52%
Average Volume (3M)34.95K
Price to Earnings (P/E)8.5
Beta (1Y)0.12
Revenue Growth17.47%
EPS Growth82.16%
CountryUS
Employees320
SectorBasic Materials
Sector Strength58
IndustryAgricultural Inputs
Share Statistics
EPS (TTM)15.16
Shares Outstanding10,569,637
10 Day Avg. Volume23,447
30 Day Avg. Volume34,945
Financial Highlights & Ratios
PEG Ratio0.18
Price to Book (P/B)4.08
Price to Sales (P/S)1.79
P/FCF Ratio10.96
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
CVR Partners Business Overview & Revenue Model
Company Description
Operating alongside its subsidiaries, CVR Partners, LP focuses on the production and distribution of nitrogen fertilizers across the United States. The company supplies ammonia to both agricultural and industrial clients. Furthermore, it provides ...
How the Company Makes Money
CVR Partners makes money primarily by producing and selling nitrogen fertilizers—mainly UAN solution and ammonia—into agricultural and industrial end markets. Revenue is generated from product sales volumes multiplied by realized selling prices, w...
CVR Partners Earnings Call Summary
Earnings Call Date:Jul 29, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 02, 2026
Earnings Call Sentiment Positive
Overall the call conveyed a predominantly positive operational and financial picture — strong Q2 results, high ammonia utilization (99%), meaningful price gains YoY, a large distribution ($6.08/unit), solid liquidity, and active low-carbon and feedstock diversification projects. Near-term headwinds include slightly lower sales volumes, higher operating costs, and a scheduled turnaround reducing Q3 utilization (estimated 75–80%) with associated $30–35M in turnaround costs, plus continued geopolitical and market uncertainty. Management is funding growth from reserves and remains cautious on M&A, striking a balance between investment and capital preservation.Positive Updates
Strong Financial Performance
Net sales of $202.0M, operating income of $85.0M, net income of $78.0M ($7.33 per common unit) and EBITDA of $107.0M for Q2 2026, demonstrating solid profitability and cash generation.
Negative Updates
Slight Volume Weakness
Total sales volumes were down slightly versus Q2 2025, driven by an earlier spring planting season that shifted some volumes into Q1 and some weakening demand later in the quarter as elevated UAN prices impacted purchasing behavior.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong Financial Performance
Net sales of $202.0M, operating income of $85.0M, net income of $78.0M ($7.33 per common unit) and EBITDA of $107.0M for Q2 2026, demonstrating solid profitability and cash generation.
Read all positive updates
Company Guidance
Management's guidance included Q3 operational and spending estimates and near‑term project timing: they expect ammonia utilization of 75–80% in Q3 due to the East Dubuque turnaround (starting end of August), direct operating expenses ex‑inventory/turnaround of $57–$62 million, turnaround expenses of $30–$35 million, and total Q3 capital spending of $40–$49 million; for 2026 they estimate total capital spending of $85–$95 million (maintenance capex $49–$57 million), noted Q2 capex was $17 million ($12 million maintenance), and said growth/profit capex will be funded from reserves. Financial and liquidity metrics cited with guidance were Q2 EBITDA of about $107 million, net cash needs of $43 million, $64 million cash available for distribution (resulting in a $6.08 per‑unit distribution), and total liquidity of $187 million (cash $137 million, ABL availability $50 million, <$1 million customer prepayments). They also guided that the East Dubuque turnaround will include a brownfield ammonia capacity expansion of up to ~5% and that the Coffeyville feedstock conversion is expected to complete in H2 2027 with no planned downtime and at less than half the original cost estimate.CVR Partners Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
58
Neutral
Cash Flow
70
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 676.86M | 606.04M | 525.32M | 681.48M | 835.58M | 532.58M |
| Gross Profit | 201.58M | 163.37M | 118.86M | 232.46M | 352.37M | 162.04M |
| EBITDA | 275.55M | 210.85M | 178.90M | 281.10M | 403.16M | 212.67M |
| Net Income | 160.22M | 98.66M | 60.90M | 172.43M | 286.80M | 78.16M |
Balance Sheet | ||||||
| Total Assets | 1.06B | 969.46M | 1.02B | 975.33M | 1.10B | 1.13B |
| Cash, Cash Equivalents and Short-Term Investments | 137.46M | 69.24M | 90.86M | 45.28M | 86.34M | 112.52M |
| Total Debt | 568.96M | 593.42M | 597.15M | 550.48M | 557.71M | 615.88M |
| Total Liabilities | 710.25M | 703.71M | 725.65M | 672.45M | 688.59M | 784.86M |
| Stockholders Equity | 346.97M | 265.74M | 293.07M | 302.88M | 411.81M | 342.20M |
Cash Flow | ||||||
| Free Cash Flow | 144.59M | 98.84M | 113.47M | 219.33M | 256.80M | 168.13M |
| Operating Cash Flow | 211.82M | 149.64M | 150.54M | 243.53M | 301.46M | 188.72M |
| Investing Cash Flow | -60.29M | -44.09M | -31.89M | -2.72M | -44.62M | -20.34M |
| Financing Cash Flow | -128.47M | -127.17M | -73.07M | -281.86M | -283.02M | -86.43M |
CVR Partners Technical Analysis
Positive
123.06
Price Trends
117.67
Positive
121.71
Positive
109.72
Positive
Market Momentum
2.76
Negative
62.06
Neutral
71.77
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For UAN, the sentiment is Positive. The current price of 123.06 is above the 20-day moving average (MA) of 121.08, above the 50-day MA of 117.67, and above the 200-day MA of 109.72, indicating a bullish trend. The MACD of 2.76 indicates Negative momentum. The RSI at 62.06 is Neutral, neither overbought nor oversold. The STOCH value of 71.77 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for UAN.
CVR Partners Risk Analysis
CVR Partners disclosed 49 risk factors in its most recent earnings report. CVR Partners reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
CVR Partners Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | $1.36B | 8.51 | 51.56% | 9.98% | 17.47% | 82.16% | |
71 Outperform | $456.19M | 31.82 | 5.27% | ― | 9.55% | ― | |
64 Neutral | $3.82B | 52.54 | -19.33% | 3.81% | -1.95% | 44.91% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
58 Neutral | $6.53B | 25.42 | 4.32% | 3.61% | 7.80% | -32.94% | |
54 Neutral | $7.03B | 9.41 | 0.36% | 3.95% | 12.34% | -87.77% | |
45 Neutral | $1.34B | -0.49 | -83.04% | 7.26% | -21.31% | -2884.91% |
* Basic Materials Sector Average
UAN
CVR Partners
126.60
40.55
47.12%
FMC
FMC
10.78
-24.67
-69.59%
IPI
Intrepid Potash
33.75
2.72
8.77%
MOS
Mosaic Co
22.71
-7.17
-24.00%
SMG
Scotts Miracle-Gro Company
66.13
8.24
14.24%
ICL
Icl
5.23
-0.57
-9.78%
CVR Partners Corporate Events
Business Operations and StrategyDividendsFinancial Disclosures
CVR Partners Posts Strong Q2 Results, Boosts Distribution
Positive
Jul 29, 2026
On July 29, 2026, CVR Partners reported a sharp year-on-year improvement in second-quarter results, with net income rising to $78 million and EBITDA to $107 million on net sales of $202 million, supported by a 99 percent ammonia utilization rate a...
Business Operations and StrategyExecutive/Board Changes
CVR Partners Announces New CEO and Leadership Changes
Neutral
Jun 23, 2026
On June 18, 2026, CVR Energy and the general partner of CVR Partners implemented a leadership transition in which President and CEO Mark A. Pytosh resigned for personal reasons and entered into a separation agreement that provides a $3 million sev...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.