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CVR Partners (UAN) Q3 Earnings Miss Estimates, Sales Down Y/Y

CVR Partners, LP UAN makes and markets nitrogen fertilizers including ammonia and urea ammonium nitrate (“UAN”) in the United States. Its products are used mainly by growers to improve yield and quality of their crops.

CVR Partners remains committed to ramp up its UAN production capacity. However, the company remains exposed to headwinds from weak nitrogen fertilizer prices.

Let’s have a quick look at the company’s third-quarter 2017 release.

Estimate Trend & Surprise History

Investors should note that the earnings estimate for CVR Partners for the third quarter has been static over the last month. The company has missed the Zacks Consensus Estimate in three of the trailing four quarters, while beating in one.

Earnings

CVR Partners posted loss per share of 28 cents for the quarter, wider than the Zacks Consensus Estimate of a loss of 10 cents per share.

CVR Partners, LP Price and EPS Surprise

 

CVR Partners, LP Price and EPS Surprise | CVR Partners, LP Quote

Revenues

CVR Partners reported net sales of $69.4 million, down 11.6% year-over-year from net sales of $78.5 million.

Key Developments to Note

CVR Partners produced 180,700 tons of ammonia in the quarter of which 46,200 net tons were available for sale while the rest was upgraded to other fertilizers including 306,600 tons of UAN.

Zacks Rank

Currently, CVR Partners has a Zacks Rank #3 (Hold), but that could change following the company’s earnings report which was just released.

Market Reaction

CVR Partners’ shares were inactive following the release. It would be interesting to see how the market reacts to the results during the trading session today.

Check back later for our full write up on CVR Partners’ earnings report!

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