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CVR Partners, LP (UAN)

  • Aug. 5, 2013, 12:35 PM
    • CVR Partners (UAN -4.7%) hits a 52-week low in an apparent delayed reaction to Q2 results that included sharply lower FY 2013 guidance to reflect lower fertilizer prices available in H2 as well as the impact of an unexpected plant shutdown.
    • Blogger Chris Damas forecasts a reduction in FY 2013 cash distributions from $2.15-$2.45/unit to $1.80-$1.90; since $1.19 was paid in H1, it would indicate a combined Q3-Q4 2013 distribution of $0.61-$0.81/unit.
    • Damas calculates CVR's Q3 ammonia production will come in at 96K tons vs. 104K a year ago.
    | 1 Comment
  • Jul. 31, 2013, 2:21 PM
    • Although some analysts hold out hope that potash producers Uralkali and Belaruskali can settle their differences and reverse the damage from yesterday's breakup, Uralkali's CEO says it's not happening although he could consider joining with Belarus in a Swiss-based trading company.
    • He believes new global potash projects will be delayed, and sees global potash demand rising to 59M-60M tons in 2014 from 54M-55M tons in 2013.
    • Separately, Potash (POT -4.9%) confirms the Toronto Stock Exchange's approval of a previously announced ~43.35M share repurchase program.
    • MOS -2.8%, IPI -7.4%, AGU -2.1%, SQM -4.9%, CF -0.5%, RNF -1%, TNH -1.3%, UAN -0.4%.
  • Jul. 30, 2013, 10:43 AM
  • Jul. 29, 2013, 8:52 AM
    • CVR Refining (CVRR) -4.3% premarket after updating its FY 2013 distribution outlook to $4.10-$4.80/unit.
    • The updated outlook is primarily due to the decrease in the Group 3 2-1-1 crack spread, increased RINs expense, and an expected Q3 shutdown of the fluid catalytic cracking unit at its Coffeyville refinery.
    • Sees upside guidance for Q2 revenues: $2.13B-$2.145B vs. $2.1B consensus.
    • CVR Partners (UAN) updates FY 2013 distribution outlook to $1.80-$2.00/unit.
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  • Jun. 10, 2013, 9:43 AM
    CVR Energy (CVI -1.5%) is cut to Sell from Neutral by Goldman Sachs, which says CVI shares appear to be discounting full credit for its target values for CVR Refining (UAN) and CVR Partners (CVRR), leaving little fundamental upside. Moreover, CVI is trading well above the combined market value of both UAN and CVRR adjusted for CVI’s ownership stake.
  • May. 22, 2013, 9:43 AM
    CVR Partners (UAN -7.4%) prices its 12M-share secondary offering, from which it will receive no proceeds, at $25.15/share. Albert Alfonso thinks the offering may prove a buying opportunity, noting the offering is not dilutive for UAN and common units outstanding will remain unchanged; global demand for urea ammonium nitrate is strong as farmland per capita decreases.
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  • May. 22, 2013, 9:17 AM
    Premarket gainers: ZLC +30%. MBND +24%. CLNT +23%. SKS +18%. ONCY +10%. BIOF +9%. TOL +6%. NTAP +6%. YGE +5%. GALE +5%.
    Losers: STP -9%. NBG -7%. BALT -9%. UAN -6%.
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  • May. 21, 2013, 6:00 PM
    After-hours top gainers, as of 5:30 p.m.: SKS +18.1%. DY +12.4%. NSPR +3%. NTAP +2.5%. WIT +2.4%.
    After-hours top losers: YY -6.5%. UAN -5.1%. BZH -2.5%. YGE -1.9%. ADI -1.9%.
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  • Feb. 27, 2013, 5:46 PM
    After-hours top gainers, as of 5:15 p.m.: BWC +9%. ARAY +4%. IDIX +4%. CLDX +3%. UAN +3%.
    After-hours top losers: GRPN -25%. BSFT -23%. ANW -14%. VCRA -12%. JCP -9%.
  • Feb. 27, 2013, 5:17 PM
    More on CVR Partners (UAN) Q4 earnings: Removing the biennial turnaround at the Coffeyville plant brings adjusted EBITDA/share to $0.37, 76% higher than the headline number. Average gate price for ammonia of $676/ton, up from $606 a year ago. UAN price of $274/ton, down from $334 a year ago. 2013 distribution guidance of $2.15-$2.45/share ($1.81 in 2012), includes a favorable settlement in property tax dispute with Montg. Co., Kansas. Shares +2.8% AH. (PR)
    | 1 Comment
  • Aug. 1, 2012, 4:57 PM
    CVR Partners (UAN): Q2 EPS of $0.48 beats by $0.04. Revenue of $81.4M (+0.9% Y/Y) beats by $4M. Shares -1.2% AH. (PR)
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  • May. 18, 2012, 3:03 PM
    CVR Partners (UAN -4.6%) CEO Byron Kelley lays out the case for why the massive amount of acreage devoted to corn is not going to result in as much production as expected - all of those acres being pulled in are among the least productive. Expect ending stocks to remain low, and corn prices to remain high, along with demand for the fertilizer he sells. (h/t Dividend Master)
    | 1 Comment
  • May. 9, 2012, 8:58 AM
    CF Industries (CF) -4.1% premarket after Dahlman Rose downgrades shares to Sell from Hold, citing the potential for significantly reduced fertilizer prices from an increasingly likely large corn crop. The firm also cuts CVR Partners (UAN -1.7%) to Sell from Hold and Rentech Nitrogen (RNF -2.1%) to Hold from Buy.
  • Mar. 6, 2012, 5:36 PM
    CVR Partners (UAN) -2% AH after filing an S-1 regarding parent CVR Energy's (CVI) plans to sell part of its stake in the company. CVR Energy, which has received a buyout offer from Carl Icahn, plans to use the proceeds from the sale to pay a special dividend to stockholders, and to strengthen its balance sheet.
  • Feb. 22, 2012, 5:22 PM
    CVR Partners (UAN): Q4 EPS of $0.56 beats by $0.02. Revenue of $87.6M (+122% Y/Y) beats by $2M. Shares -1.1% AH. (PR)
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Company Description
CVR Partners LP along with its subsidiaries produces and distributes nitrogen fertilizer products used by farmers to improve the yield and quality of their crops. Its products include UAN and ammonia.