CVR Refining (CVRR) Tops Q1 EPS by 32c, Beats on Revenues

CVR Refining (NYSE: CVRR) reported Q1 EPS of $0.39, $0.32 better than the analyst estimate of $0.07. Revenue for the quarter came in at $1.54 billion versus the consensus estimate of $1.3 billion.

“CVR Refining reported solid financial results for the 2018 first quarter,” said Dave Lamp, CVR Energy’s chief executive officer. “The quarter’s fiscal performance was driven by stronger crack spreads, hedging gains, a reduction to CVR Refining’s estimated Renewable Volume Obligation and lower Renewable Identification Number prices.

“CVR Partners' Coffeyville, Kansas, fertilizer plant performed extremely well during the 2018 first quarter, posting on-stream rates at or near 100 percent,” Lamp said. “While unfavorable weather conditions have delayed the start of the spring application, we expect a strong planting season due to lower than average customer inventory levels.”

For earnings history and earnings-related data on CVR Refining (CVRR) click here.

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• JD.com (JD) Reiterated at Buy by Benchmark Amid Earnings Recovery
• Diana Shipping drops bid for Genco after price demands spike to $36.91