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 second-quarter 2017 release.
Estimate Trend & Surprise History
Investors should note that the earnings estimate for CVR Partners for the second quarter has been static over the last month. The company has missed the Zacks Consensus Estimate in all of the trailing four quarters.
CVR Partners posted loss per share of 3 cents for the quarter, narrower than the Zacks Consensus Estimate of a loss of 4 cents per share.
CVR Partners reported net sales of $97.9 million, down 18.3% year-over-year from net sales of $119.8 million.
Key Developments to Note
CVR Partners produced 215,300 tons of ammonia in the quarter of which 77,500 net tons were available for sale while the rest was upgraded to other fertilizers including 313,800 tons of UAN.
Currently, CVR Partners has a Zacks Rank #3 (Hold), but that could change following the company’s earnings report which was just released.
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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