Last $39.62 USD
Change Today 0.00 / 0.00%
Volume 158.3K
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cvr energy inc (CVI) Key Developments

CVR Energy, Inc. Announces Executive Changes

CVR Energy, Inc. announced that the employment agreement for Edmund S. Gross, Senior Vice President, General Counsel and Secretary of the company, expires and his employment will end on December 31, 2014. In addition, on December 18, 2014, CVR Energy entered into an amendment of the employment agreement with Robert W. Haugen. Mr. Haugen is Executive Vice President, Refining Operations, and is a named executive officer of CVR Energy.

CVR Energy, Inc. Names Marty Power as Chief Commercial Officer

CVR Energy, Inc. announced that Marty Power has joined the company as chief commercial officer, effective immediately. In his new role, Power is responsible for crude oil acquisition and petroleum marketing for CVR Refining. Power has more than 35 years of experience in the areas of crude oil and petroleum products related to trading, marketing, logistics and business development. Most recently, he served as manager of business development and as a trading manager at Koch Supply & Trading, LP. Previous to Koch, Power was co-founder and president of Riverway Petroleum Partners, LLC.

CVR Energy, Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Provides Full Year Tax Rate Guidance for 2014

CVR Energy, Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company announced net income attributable to company of $7.9 million or 0.09 cents per basic and diluted share, on net sales of $2,279.9 million compared to net income attributable to the company of $44 million or $0.51 per basic and diluted share, on net sales of $1,977.1 million for the third quarter of 2013. Income before income tax was $25.5 million against $107.7 million of prior year period. Operating income was $6.8 million against $40.4 million of prior year period. Adjusted EBITDA was $90.5 million against $42.4 million of prior year period. Adjusted net income was $37 million or $0.43 per diluted share against adjusted net income of $5.2 million or $0.06 per diluted share of prior year period. Net cash provided by operating activities was $125.3 million compared to net cash used in operating activities of $59.7 million a year ago. For the first nine months of 2013, the company announced net income attributable to company of $218.3 million or 2.51 cents per basic and diluted share, on net sales of $7,267.7 million compared to net income attributable to the company of $392.4 million or $4.52 per basic and diluted share, on net sales of $6,549.8 million for the third quarter of 2013. Income before income tax was $497.8 million against $785.4 million of prior year period. Operating income was $354.9 million against $670.7 million of prior year period. Adjusted EBITDA was $391.9 million against $549.7 million of prior year period. Adjusted net income was $194.0 million or $2.23 per diluted share against adjusted net income of $286.3 million or $3.30 per diluted share of prior year period. Net cash provided by operating activities was $530.8 million compared to $321.3 million a year ago. The company currently estimate the full year 2014 effective tax rate will approximate 24% to 25%.

CVR Energy, Inc. Declares Third Quarter 2014 Cash Dividend, Payable on Nov. 17, 2014

CVR Energy, Inc. announced a third quarter 2014 cash dividend of 75 cents per share. The dividend, as declared by CVR Energy's Board of Directors, will be paid on Nov. 17, 2014, to stockholders of record on Nov. 10, 2014.

CVR Energy, Inc. to Report Q3, 2014 Results on Oct 30, 2014

CVR Energy, Inc. announced that they will report Q3, 2014 results at 9:00 AM, Eastern Standard Time on Oct 30, 2014

 

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Price/Earnings 17.5x
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Price/Book 3.1x
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