Earnings summaries and quarterly performance for CVR ENERGY.
Executive leadership at CVR ENERGY.
David L. Lamp
Detailed
President and Chief Executive Officer
CEO
C. Douglas Johnson
Detailed
Executive Vice President and Chief Commercial Officer
Dane J. Neumann
Detailed
Executive Vice President, Chief Financial Officer, Treasurer and Assistant Secretary
Jeffrey D. Conaway
Detailed
Vice President, Chief Accounting Officer & Corporate Controller
Mark A. Pytosh
Detailed
Executive Vice President—Corporate Services
Melissa M. Buhrig
Detailed
Executive Vice President, General Counsel and Secretary
Michael H. Wright, Jr.
Detailed
Executive Vice President and Chief Operating Officer
Board of directors at CVR ENERGY.
Research analysts who have asked questions during CVR ENERGY earnings calls.
Manav Gupta
UBS Group
4 questions for CVI
Also covers: ADM, AMTX, BE +34 more
John Royall
JPMorgan Chase & Co.
3 questions for CVI
Also covers: CASY, CNQ, CVE +13 more
Matthew Blair
Tudor, Pickering, Holt & Co.
3 questions for CVI
Also covers: AMTX, CE, CLNE +19 more
Neil Mehta
Goldman Sachs
3 questions for CVI
Also covers: AESI, APA, AR +36 more
Paul Cheng
Scotiabank
3 questions for CVI
Also covers: APA, BP, CLNE +20 more
Adam Alexander Wijaya
Goldman Sachs
1 question for CVI
Also covers: CCJ, CLMT, IMO +1 more
Recent press releases and 8-K filings for CVI.
CVR Energy Provides Investor Presentation Update on Operations, Financials, and Regulatory Matters
CVI
Guidance Update
New Projects/Investments
Legal Proceedings
- CVR Energy intends to revert its Wynnewood hydrocracker from renewable diesel service back to hydrocarbon processing in December 2025, while retaining the ability to return to renewable diesel service in the future.
- As of Q3 2025, the company reported a total liquidity position of approximately $830 million, which included $514 million in cash and $316 million in availability under its ABL. Additionally, CVR Energy made a combined $90 million repayment on its Term Loan in June and July 2025, reducing the remaining balance to $232 million.
- The EPA affirmed previous grants of Small Refinery Exemptions (SREs) for Wynnewood Refining Company, LLC (WRC) and granted 100% waivers for 2019 and 2021, and 50% waivers for 2020, 2022, 2023, and 2024 compliance periods. This decision reduced WRC's balance sheet obligation by over 420 million RINs, resulting in an obligation of 90 million RINs as of September 30, 2025.
- For Q3 2025, the Petroleum Segment reported a Refining Margin of $708 million, while the Renewables Segment's Renewables Margin was $0 million.
- The estimated total capital expenditure budget for 2025 is between $58 million and $65 million, including approximately $17 million for a planned turnaround at the Coffeyville facility in Q4 2025.
Nov 20, 2025, 9:26 PM
CVR Energy Reports Strong Q3 2025 Earnings, Renewable Diesel Unit Reversion, and CEO Retirement
CVI
Earnings
Guidance Update
CEO Change
- CVR Energy reported Q3 2025 consolidated net income of $401 million and earnings per share of $3.72, with EBITDA of $625 million, which included a $488 million benefit associated with small refinery exemptions for the 2019 through 2024 compliance years.
- The company decided to revert the renewable diesel unit at Wynnewood back to hydrocarbon processing during the next scheduled turnaround in December due to profitability challenges, recognizing $31 million of accelerated depreciation in Q3 2025 and anticipating approximately $62 million in Q4 2025.
- For Q4 2025, the petroleum segment is estimated to have total throughputs of 200,000 to 215,000 barrels per day, and the fertilizer segment's ammonia utilization rate is projected to be 80% to 85% due to a planned turnaround at the Coffeyville facility.
- The estimated accrued RFS obligation on the balance sheet was $93 million at September 30th, representing 90 million RINs, and the company expects to purchase approximately $100 million worth of RINs by the end of March 2026 if a 50% waiver for 2025 is granted. Additionally, CEO Dave Lamp announced his retirement, with this being his last earnings call.
Oct 30, 2025, 5:00 PM
CVR Energy Reports Strong Q3 2025 Results, Announces Renewable Diesel Unit Conversion, and CEO Retirement
CVI
Earnings
Guidance Update
Management Change
- CVR Energy reported Q3 2025 consolidated net income of $401 million and EBITDA of $625 million, which included a $488 million benefit associated with small refinery exemptions (SREs) granted for the 2019 through 2024 compliance years.
- The company announced its decision to revert the renewable diesel unit at Wynnewood back to hydrocarbon processing during the next scheduled turnaround in December, citing profitability challenges due to the loss of the blenders’ tax credit and increased soybean oil prices. This decision resulted in $31 million of accelerated depreciation in Q3, with an anticipated additional $62 million in Q4.
- For Q4 2025, the petroleum segment estimates total throughputs of 200,000 to 215,000 barrels per day, and the fertilizer segment expects an ammonia utilization rate of 80% to 85% due to a planned turnaround.
- CVR Energy ended Q3 2025 with a consolidated cash balance of $670 million and total liquidity of approximately $830 million, and intends to prioritize paying down its term loan, which has a current principal balance of $235 million.
- CEO David Lamp announced that this would be his last earnings call before his retirement.
Oct 30, 2025, 5:00 PM
CVR Energy Reports Strong Q3 2025 Results and Announces Renewable Diesel Unit Conversion
CVI
Earnings
Guidance Update
New Projects/Investments
- CVR Energy reported Q3 2025 consolidated net income of $401 million and earnings per share of $3.72, with EBITDA of $625 million, significantly benefiting from a $488 million gain related to small refinery exemptions (SREs) for 2019-2024.
- The company announced its decision to revert the renewable diesel unit at Wynnewood back to hydrocarbon processing during the next scheduled turnaround in December, citing unprofitability. This decision resulted in $31 million of accelerated depreciation in Q3 2025 and an anticipated $62 million in Q4 2025.
- The EPA granted full SRE waivers for 2019 and 2021, and 50% waivers for 2020, 2022, and 2024, leading to an over 80% reduction in the outstanding RFS obligation on the balance sheet. The estimated accrued RFS obligation was $93 million at September 30, 2025.
- For Q4 2025, the company estimates petroleum segment throughput to be 200,000-215,000 barrels per day and full-year 2025 total consolidated capital spending to be $180 million-$200 million.
- CEO David Lamp announced his retirement, with this being his last earnings call.
Oct 30, 2025, 5:00 PM
CVR Energy Reports Strong Third Quarter 2025 Results Driven by EPA Decision and Petroleum Segment Performance
CVI
Earnings
Dividends
Demand Weakening
- CVR Energy reported net income attributable to stockholders of $374 million and EBITDA of $625 million for the third quarter of 2025, a significant improvement compared to a net loss of $124 million and an EBITDA loss of $35 million in the third quarter of 2024.
- The company recognized a $488 million benefit from the EPA's August 2025 decision, which granted full or partial waivers for Wynnewood Refining Company, LLC for certain historical periods, thereby removing this liability from the balance sheet.
- The Petroleum Segment's net income was $520 million and EBITDA was $572 million for Q3 2025, up from a net loss of $110 million and EBITDA loss of $75 million in Q3 2024, with combined total throughput increasing to approximately 216,000 barrels per day.
- The Renewables Segment reported a net loss of $51 million and an EBITDA loss of $15 million for Q3 2025, leading the company to resolve to revert the renewable diesel unit at the Wynnewood refinery back to hydrocarbon processing service in December 2025 due to unfavorable economics.
- CVR Partners announced a cash distribution of $4.02 per common unit for the third quarter of 2025.
Oct 29, 2025, 8:27 PM
CVR Energy Inc. Updates on Liquidity, RINs Liability, and Renewables Strategy
CVI
Guidance Update
Debt Issuance
Legal Proceedings
- CVR Energy reported total liquidity of approximately $759 million (excluding CVR Partners) at the end of Q2 2025, and has reduced its Term Loan balance to $235 million through a $90 million repayment in June and July 2025.
- The EPA's decision on August 22, 2025, significantly reduced Wynnewood Refining Company's (WRC) Renewable Fuel Standard (RFS) liability for 2020-2024 by over 300 million RINs, potentially leading to an estimated 100 million RIN obligation for pre-2025 periods.
- The company is pausing new development efforts for additional Renewables growth projects due to uncertainty regarding U.S. government credit programs, while continuing to operate the Wynnewood Renewable Diesel Unit (RDU).
- Estimated capital expenditures for 2025 are $104 million to $128 million for Petroleum & Renewables and $55 million to $65 million for the Nitrogen Fertilizer segment.
Sep 2, 2025, 8:21 PM
CVR Energy Provides Update on EPA Small Refinery Exemption Decision
CVI
Legal Proceedings
- On August 22, 2025, the U.S. Environmental Protection Agency (EPA) issued a decision affirming previous small refinery hardship relief grants for CVR Energy's subsidiary, Wynnewood Refining Company, LLC (WRC), for 2017 and 2018 compliance periods, and granting 100 percent waivers for 2019 and 2021, and 50 percent waivers for 2020, 2022, 2023, and 2024 compliance periods under the Renewable Fuel Standard.
- This decision could reduce WRC's obligation for the 2020 through 2024 compliance periods by more than 300 million Renewable Identification Numbers (RINs).
- WRC may also receive previously retired RINs for earlier compliance periods, which could further reduce its obligation by over 100 million RINs.
- As a result, the estimated remaining RIN obligation for pre-2025 compliance periods could be reduced to 100 million RINs.
Aug 29, 2025, 11:56 AM
Quarterly earnings call transcripts for CVR ENERGY.
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