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CVR Partners (UAN) Q2 Earnings Miss Estimates, Sales Beat
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CVR Partners, LP (UAN - Free Report) makes and markets nitrogen fertilizers including ammonia and urea ammonium nitrate (“UAN”) in the U.S. 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 lower nitrogen fertilizer prices. Its operations are also subject to the risks of production outages.
Let’s have a quick look at the company’s second-quarter 2016 release. Estimate Trend & Surprise History
Investors should note that the earnings estimate for CVR Partners for the second quarter has seen a downtrend over the last month. The company has beaten the Zacks Consensus Estimate in 3 of the trailing 4 quarters while missing once.
CVR Partners’ adjusted earnings came in at a penny per share. That missed the Zacks Consensus Estimate of 21 cents.
Revenues
CVR Partners reported revenues of $119.8 million, beating the Zacks Consensus Estimate of $109 million. Key Developments to Note
CVR Partners produced 171,500 tons of ammonia and purchased an additional 5,000 tons in the quarter of which 45,600 net tons were available for sale while the rest was upgraded to 296,500 tons of UAN.
Zacks Rank
Currently, CVR Partners has a Zacks Rank #4 (Sell).
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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CVR Partners (UAN) Q2 Earnings Miss Estimates, Sales Beat
CVR Partners, LP (UAN - Free Report) makes and markets nitrogen fertilizers including ammonia and urea ammonium nitrate (“UAN”) in the U.S. 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 lower nitrogen fertilizer prices. Its operations are also subject to the risks of production outages.
Let’s have a quick look at the company’s second-quarter 2016 release.
Estimate Trend & Surprise History
Investors should note that the earnings estimate for CVR Partners for the second quarter has seen a downtrend over the last month. The company has beaten the Zacks Consensus Estimate in 3 of the trailing 4 quarters while missing once.
CVR PARTNERS LP Price and EPS Surprise
CVR PARTNERS LP Price and EPS Surprise | CVR PARTNERS LP Quote
Earnings
CVR Partners’ adjusted earnings came in at a penny per share. That missed the Zacks Consensus Estimate of 21 cents.
Revenues
CVR Partners reported revenues of $119.8 million, beating the Zacks Consensus Estimate of $109 million.
Key Developments to Note
CVR Partners produced 171,500 tons of ammonia and purchased an additional 5,000 tons in the quarter of which 45,600 net tons were available for sale while the rest was upgraded to 296,500 tons of UAN.
Zacks Rank
Currently, CVR Partners has a Zacks Rank #4 (Sell).
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!
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>