CVR Energy (CVI) Tops Q2 EPS by 9c

CVR Energy (NYSE: CVI) reported Q2 EPS of $0.96, $0.09 better than the analyst estimate of $0.87. Revenue for the quarter came in at $2.54 million versus the consensus estimate of $2.74 billion.

Second quarter 2014 adjusted EBITDA, a non-GAAP financial measure, was $147.2 million, compared to second quarter 2013 adjusted EBITDA of $221.3 million.

"In the fertilizer segment, CVR Partners benefitted from higher average realized gate prices per ton for urea ammonium nitrate (UAN) during the second quarter of 2014 as compared to this year's first quarter," said Jack Lipinski, CVR Energy's chief executive officer. "At CVR Refining, the refineries posted a combined crude throughput of 212,047 barrels per day (bpd) processed in the 2014 second quarter. Overshadowing our second quarter results, however, is the unfortunate accident at CVR Refining's Coffeyville refinery on July 29 that injured four employees. We remain steadfast in our commitment to safety and are currently focused on providing support and assistance to the injured employees and their families."

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