CVR Partners Reports Third Quarter 2022 Results and Announces a Cash Distribution of $1.77

SUGAR LAND, Texas, Oct. 31, 2022 (GLOBE NEWSWIRE) -- CVR Partners, LP (“CVR Partners” or the “Partnership”) (UAN" href="/company/UAN" onmouseover="handlePagePreview('company','UAN')" style="color:#4007a2 !important; text-decoration:underline !important; font-weight:bold;">NYSE: UANUAN-pp">), a manufacturer of ammonia and urea ammonium nitrate (“UAN”) solution fertilizer products, today announced a net loss of $20 million, or $1.87 per common unit, on net sales of $156 million for the third quarter of 2022, compared to net income of $35 million, or $3.28 per common unit, on net sales of $145 million for the third quarter of 2021. EBITDA was $10 million for the third quarter of 2022, compared to EBITDA of $64 million for the third quarter of 2021.

“CVR Partners successfully completed turnarounds at both of its nitrogen fertilizer production facilities in the third quarter of 2022 and addressed a number of issues that had impacted reliability at the facilities during the past 12 months,” said Mark Pytosh, Chief Executive Officer of CVR Partners’ general partner. “As a result, we are now posting record operating rates at both plants and are pleased to announce a quarterly distribution of $1.77 per unit.

“Industry conditions remain strong, driven by attractive farmer economics in the United States and European imports of nitrogen fertilizer,” Pytosh said. “We expect these conditions to continue into the 2023 spring planting season.”

Consolidated Operations