Financial Performance - CVR Energy reported a net loss attributable to stockholders of 124millionforQ32024,comparedtoanetincomeof353 million in Q3 2023, resulting in a loss per diluted share of 1.24versusearningsof3.51 per share in the prior year [1][29] - The company's EBITDA loss for Q3 2024 was 35million,asignificantdeclinefromanEBITDAof530 million in Q3 2023 [1][29] - Adjusted EBITDA for Q3 2024 was 63million,downfrom313 million in Q3 2023, while adjusted loss per diluted share was 50 cents compared to adjusted earnings of 1.89pershareinthepreviousyear[1][29]SegmentPerformance−ThePetroleumSegmentexperiencedanetlossof110 million and an EBITDA loss of 75millioninQ32024,comparedtoanetincomeof460 million and EBITDA of 484millioninQ32023[3][34]−TheNitrogenFertilizerSegmentreportednetincomeof4 million and EBITDA of 36milliononnetsalesof125 million for Q3 2024, an improvement from a net income of 1millionandEBITDAof32 million on net sales of 131millioninQ32023[6][34]OperationalMetrics−CombinedtotalthroughputforQ32024wasapproximately189,000barrelsperday(bpd),downfromapproximately212,000bpdinQ32023[4][39]−TherefiningmarginforQ32024was44 million, or 2.53pertotalthroughputbarrel,asharpdeclinefrom607 million, or 31.05perbarrel,inthesameperiodof2023[5][38]−AveragerealizedgatepricesforUANincreasedby3229 per ton, and ammonia prices rose by 9% to 399pertoncomparedtoQ32023[8][45]CashandDebtPosition−AsofSeptember30,2024,consolidatedcashandcashequivalentswere534 million, a decrease of 47millionfromDecember31,2023,whiletotaldebtandfinanceleaseobligationsstoodat1.6 billion [11][32] - The company announced it will not pay a cash dividend for Q3 2024, reflecting concerns over the current margin environment [2][11] Future Outlook - The CEO indicated that the refining business was impacted by reduced throughputs due to unplanned downtime and external power supply outages, with a significant turnaround planned at the Coffeyville refinery in Q1 2025 [2][3]
