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CVR Partners (UAN) Posts Loss in Q1, 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 weak nitrogen fertilizer prices.

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

Estimate Trend & Surprise History

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

Earnings
 
CVR Partners posted loss per share of 9 cents for the quarter, higher than the Zacks Consensus Estimate of a loss of 2 cents per share.

CVR Partners, LP Price and EPS Surprise

 

Revenues
 
CVR Partners reported revenues of $85.3 million, beating the Zacks Consensus Estimate of $79 million.

Key Developments to Note

CVR Partners produced 219,200 tons of ammonia in the quarter of which 80,000 net tons were available for sale while the rest was upgraded to other fertilizers including 341,900 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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