CVR Energy Q3 Profit Down - Quick Facts

(RTTNews) - CVR Energy, Inc. (CVI), reported a sharp decline in third-quarter net income, impacted by unprecedented downtime related to the Fluid Catalytic Cracking Unit outage at CVR Refining's Coffeyville refinery.

Net income attributable to CVR Energy stockholders was $44 million or $0.51 per share, compared with $208.9 million or $2.41 per share last year. On an adjusted basis, net income was $5.2 million or $0.06 per share for the quarter.

On average, three analysts polled by Thomson Reuters expected the company to report earnings per share of $0.21 for the quarter. Analysts' estimates typically exclude one-time items.

Net sales declined to $1.9 billion, from prior year's $2.4 billion. Analysts expected the company to report revenues of $1.84 billion.

Further, the company announced a quarterly dividend of 75 cents per share, payable on November 18, to shareholders of record on November 11.

Separately, CVR Partners, LP, (UAN), reported net income of $19.7 million or $0.27 per share, compared with $31.6 million or $0.43 per share last year. Net sales were $69.2 million, compared with prior year's $75 million.

CVR Partners also announced a third quarter distribution of 36 cents per unit, payable on November 18, to shareholders of record on November 11.