Revenue Update on CVR Energy(NYSE:CVI)

CVR Energy(NYSE:CVI) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Jul 28, 2016. Company reported revenue of $1.28B. Analysts estimated a revenue of $1.15B. Earnings per share were $0.20. Analysts had estimated an EPS of $0.06.

CVR Energy (CVI) shares turned negative on Thursdays trading session with the shares closing down -0.35 points or -2.46% at a volume of 13,09,157. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $14.5. The peak price level was also seen at $14.5 while the days lowest was $13.87. Finally the shares closed at $13.9. The 52-week high of the shares is $48.37 while the 52-week low is $13.4. According to the latest information available, the market cap of the company is $1,207 M.

CVR Energy Inc. is a holding company. The Company engages in the petroleum refining and nitrogen fertilizer manufacturing through its holdings in CVR Refining LP (CVR Refining or the Refining Partnership) and CVR Partners LP (CVR Partners or the Nitrogen Fertilizer Partnership). The Company’s Refining Partnership is an independent petroleum refiner and marketer of transportation fuels. Its Nitrogen Fertilizer Partnership produces and markets nitrogen fertilizers in the form of urea and ammonium nitrate (UAN) and ammonia. In addition the Company through its majority owned subsidiaries produces and markets nitrogen fertilizer products in North America. It operates in two segments: the petroleum segment and the nitrogen fertilizer segment. The petroleum business consists of a coking medium-sour crude oil refinery in Coffeyville Kansas and a crude oil refinery in Wynnewood Oklahoma. The nitrogen fertilizer business consists of a nitrogen fertilizer facility in Coffeyville Kansas.

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