CVR PARTNERS REPORTS PRELIMINARY ESTIMATED FOURTH QUARTER AND FULL-YEAR 2025 RESULTS
SUGAR LAND, Texas (January 26, 2026) – CVR
Partners, LP (“CVR Partners” or the “Partnership”) (NYSE: UAN) today announced
preliminary estimated financial results for the fourth quarter and full-year
2025.
“The planned turnaround at our Coffeyville facility was completed as scheduled
in early November; however, the subsequent startup was delayed by several
weeks due to downtime at the third-party owned air separation unit,” said Mark
Pytosh, Chief Executive Officer. “Despite this delay, we saw strong demand for
nitrogen fertilizers in the fourth quarter and pricing remained robust as
inventories continue to be tight amid ongoing geopolitical tensions.”
Preliminary estimated fourth quarter and full-year 2025 results are
expected to be within the following ranges:
|
Three Months Ended December 31, 2025
|
Year Ended December 31, 2025
|
|
(in millions, except utilization data)
|
Low Estimate
|
High Estimate
|
Low Estimate
|
High Estimate
|
|
Net Income (Loss)
|
$(14)
|
$(7)
|
$95
|
$102
|
| EBITDA(1) |
$15 |
$25 |
$206 |
$216 |
| Ammonia utilization rate |
60% |
65% |
87% |
89% |
| Cash and cash equivalents |
$65 |
$75 |
$65 |
$75 |
| Ammonia utilization rate |
550 |
600 |
550 |
600 |
-
For a reconciliation of preliminary estimated EBITDA to preliminary
estimated net income (loss), the most directly comparable measure in
accordance with accounting principles generally accepted in the United
States of America (“GAAP”), see “Non-GAAP Reconciliations” section below.
Preliminary Financial Data
The financial and operating results included in this press release are
preliminary estimates and subject to the completion of our financial
statements, including the completion of the annual audit by the Partnership’s
independent registered public accounting firm. The Partnership’s actual
results may differ as a result of the Partnership’s financial closing
procedures, final adjustments and other developments that may arise between
now and the time the Partnership’s results for the fourth quarter and
full-year 2025 are issued.
These preliminary estimates should not be viewed as a substitute for full
financial statements prepared in accordance with GAAP, and they should not be
viewed as indicative of the Partnership’s results for any future period. The
Partnership’s independent registered public accounting firm has not audited,
reviewed, compiled, or performed any procedures with respect to these
preliminary estimated financial results and, accordingly, does not express an
opinion or any other form of assurance with respect to these preliminary
estimates.
Non-GAAP Measures
Our management uses certain non-GAAP measures, and reconciliations to those
measures, to evaluate current and past performance and prospects for the
future to supplement our financial information presented in accordance with
GAAP. These non-GAAP measures are important factors in assessing our operating
results and profitability and include the measures defined below.
The following is a non-GAAP measure we present for the three and twelve months
ended December 31, 2025:
EBITDA - Net income (loss) before (i) interest expense, net, (ii)
income tax expense (benefit) and (iii) depreciation and amortization expense.
We present this measure because we believe it may help investors, analysts,
lenders and ratings agencies analyze our results of operations in conjunction
with our GAAP results, including but not limited to our operating performance
as compared to other publicly traded companies in the fertilizer industry,
without regard to historical cost basis or financing methods and our ability
to incur and service debt and fund capital expenditures. Non-GAAP measures
have important limitations as analytical tools, because they exclude some, but
not all, items that affect net earnings and operating income. These measures
should not be considered substitutes for their most directly comparable GAAP
measures. See “Non-GAAP Reconciliation” included herein for reconciliation of
these amounts. Due to rounding, numbers presented within this section may not
add or equal to numbers or totals presented elsewhere within this document.
Non-GAAP Reconciliation
Reconciliation of Preliminary Estimated Net Income (Loss) to Preliminary
Estimated EBITDA
|
Three Months Ended December 31, 2025
|
Year Ended December 31, 2025
|
|
(in millions)
|
Low Estimate
|
High Estimate
|
Low Estimate
|
High Estimate
|
|
Net Income (Loss)
|
$(14)
|
$(7)
|
$95
|
$102
|
| Interest expense, net |
7 |
8 |
30 |
31 |
| Depreciation and amortization |
22 |
24 |
81 |
83 |
| EBITDA |
$15 |
$25 |
$206 |
$216 |
Forward-Looking Statements
This news release may contain forward-looking statements. Statements
concerning current estimates, expectations and projections about future
prospects, opportunities, plans, actions and events and other statements,
concerns, or matters that are not historical facts are “forward-looking
statements,” as that term is defined under the federal securities laws. These
forward-looking statements include, but are not limited to, statements
regarding our preliminary estimates of selected financial and operational
results for the fourth quarter and full-year 2025 and other matters. You can
generally identify forward-looking statements by our use of forward-looking
terminology such as “outlook,” “anticipate,” “believe,” “continue,” “could,”
“estimate,” “expect,” “explore,” “evaluate,” “intend,” “may,” “might,” “plan,”
“potential,” “predict,” “seek,” “should,” “upcoming,” “before,” “future,” or
“will,” or the negative thereof or other variations thereon or comparable
terminology. These forward-looking statements are only predictions and involve
known and unknown risks and uncertainties, including risk and uncertainties
related to the completion of our financial closing procedures or any
adjustments that may result from management’s review of our consolidated
financial statements. Investors are cautioned these and other factors may
affect these forward-looking statements. For additional discussion of risk
factors which may affect our results, please see the risk factors and other
disclosures included in our most recent Annual Report on Form 10-K, any
subsequently filed Quarterly Reports on Form 10-Q and our other Securities and
Exchange Commission filings. These and other risks may cause our actual
performance or achievements to differ materially from any future performance
or achievements expressed or implied by these forward-looking statements.
Given these risks and uncertainties, you are cautioned not to place undue
reliance on such forward-looking statements. The forward-looking statements
included in this news release are made only as of the date hereof. CVR
Partners disclaims any intention or obligation to update publicly or revise
any forward-looking statements, whether as a result of new information, future
events or otherwise, except to the extent required by law.
About CVR Partners, LP
Headquartered in Sugar Land, Texas, CVR Partners, LP is a Delaware limited
partnership focused on the production, marketing and distribution of nitrogen
fertilizer products. It primarily produces urea ammonium nitrate (UAN) and
ammonia, which are predominantly used by farmers to improve the yield and
quality of their crops. CVR Partners’ Coffeyville, Kansas, nitrogen fertilizer
manufacturing facility includes a 1,300 ton-per-day ammonia unit, a 3,100
ton-per-day UAN unit and a dual-train gasifier complex having a capacity of 89
million standard cubic feet per day of hydrogen. CVR Partners’ East Dubuque,
Illinois, nitrogen fertilizer manufacturing facility includes a 1,075
ton-per-day ammonia unit and a 950 ton-per-day UAN unit.
For further information, please contact:
Investor Relations
Richard Roberts
(281) 207-3205
InvestorRelations@CVRPartners.com
Media Relations
Brandee Stephens
(281) 207-3516
MediaRelations@CVRPartners.com