cvr energy inc (CVI) Key Developments
CVR Energy Names Janice T. DeVelasco As Vice President of Environmental, Health and Safety
Apr 14 14
CVR Energy, Inc. announced that Janice T. DeVelasco will become the companies' vice president of environmental, health and safety, effective immediately. For the past seven years, DeVelasco had been directing the process safety management program for the companies as a senior environmental, health and safety advisor. DeVelasco has more than 30 years of environmental, health, safety and risk management experience, having served in several management and consulting positions with companies such as CITGO Petroleum Corporation and Sage Environmental Consulting, L.P.
CVR Energy, Inc. Presents at 18th Annual Agribusiness Conference, Mar-12-2014 04:10 PM
Mar 7 14
CVR Energy, Inc. Presents at 18th Annual Agribusiness Conference, Mar-12-2014 04:10 PM. Venue: New York, New York, United States.
CVR Energy Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013
Feb 20 14
CVR Energy announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2013. For the fourth quarter of 2013, the company reported a net loss attributable to stockholders of $21.7 million or a loss of 25 cents per diluted share on net sales of $2,436.0 million, compared to fourth quarter 2012 net income of $40.2 million or 46 cents per diluted share, on net sales of $1,880.8 million. Impacting 2013 fourth quarter net income was a net loss on derivatives of $115.9 million, which included a gain on current period settled derivatives of $10.3 million, and an unfavorable first-in, first-out (FIFO) accounting impact of $62.0 million. Fourth quarter 2013 adjusted EBITDA was $110.0 million compared to adjusted EBITDA of $210.3 million for the same period a year earlier. Operating income was $39.7 million against $124.9 million of prior year period. Loss before income tax (benefit) was $79.7 million against income before income tax expense of $61.5 million of prior year period. Adjusted net income attributable to CVR Energy stockholders was $61.7 million or $0.71 diluted per share against adjusted net income attributable to CVR Energy stockholders of $103.8 million or $1.20 diluted per share of prior year period. Net cash outflow was $45.0 million against $92.3 million of prior year period.
The company announced full year 2013 net income of $370.7 million or $4.27 per diluted share on net sales of $8,985.8 million, compared to net income for the full year 2012 of $378.6 million or $4.33 per diluted share, on net sales of $8,567.3 million. Full year 2013 adjusted EBITDA was $659.7 million compared to full year 2012 adjusted EBITDA of $1,264.5 million. Operating income was $710.5 million against $1,034.9 million of prior year period. Income before income tax expense was $705.7 million against $638.2 million of prior year. Adjusted net income attributable to CVR Energy stockholders was $348.6 million or $4.01 diluted per share against adjusted net income attributable to CVR Energy stockholders of $660.1 million or $7.55 diluted per share of prior year period. Net cash outflow was $53.9 million against $507.7 million of prior year period.
CVR Energy, Inc. Announces Dividend for Fourth Quarter 2013, Payable on March 10, 2014
Feb 20 14
CVR Energy, Inc. announced a fourth quarter 2013 cash dividend of 75 cents per share. The dividend will be paid on March 10, 2014, to stockholders of record on March 3, 2014.
CVR Energy, Inc. Announces Resignation of Daniel A. Ninivaggi as Board of Director
Feb 10 14
On February 6, 2014, Daniel A. Ninivaggi resigned from the board of directors of CVR Energy, Inc.