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CVR Partners, LP
🏹 Trader: 🚀 Stage 2 + Near High 📈 Stage 2 🎯 Near 52W High | BRS 80 Ready View all →
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$1.4B
Market Cap
11.0
P/E
6.53
PEG
16.8%
ROCE
35.3%
ROE
2.14
D/E
21.2%
OPM
-1.6%
% from 52W High
79
α RS
🔍 UAN is showing a high-conviction setup because it matches 7 of 37 tracked screener presets, Sector RRG has Materials in the Leading quadrant with the trail still strengthening, and RS Rating is 79. Net: Broad signal stack, not a recommendation. ? Conviction RRG RS Rating
Sources
Conviction 7/37 · Materials in Leading quadrant · RS Rating 79
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🌏 Global Investor Returns
Currency-adjusted total returns for UAN including FX impact
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📈 Price History
Ratio Health
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Average
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By Category
📊 Sector Averages
About

CVR Partners, LP, together with its subsidiaries, engages in the production and sale of nitrogen fertilizer in the United States.

Key Ratios Snapshot
📈 Growth Pattern
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📊 MIXED Q1 2026 net sales $180M, EBITDA $78M, distribution $4 per unit, 103% ammonia utilization
Revenue & Profitability
For Q1 2026, net sales were $180 million, net income was $50 million ($4.72 per common unit), operating income was $58 million, and EBITDA was $78 million. Compared to Q1 2025, UAN prices increased approximately 34% and ammonia prices increased approximately 24%. Direct operating expenses were $63 million, and the quarter-end cash balance was $128 million with total liquidity of $178 million.
Outlook
Management highlighted tight nitrogen fertilizer markets due to Middle East conflicts disrupting supply (roughly 30% of production transits the Strait of Hormuz) and damaged production facilities. USDA estimates 95 million corn acres and 85 million soybean acres for 2026, with corn at ~$4.75/bushel and soybeans at ~$11.90/bushel. The Trump administration and Congress are discussing potential farmer subsidies to offset lower grain prices and higher input costs.
Growth Drivers
Growth levers include high plant utilization (target above 95% excluding turnarounds), brownfield capacity expansions at East Dubuque and Coffeyville that could increase consolidated ammonia capacity by approximately 7%, and potential export opportunities to Europe where structural natural gas supply issues keep production below historical levels. The company also plans to expand DEF production and load-out capacity.
Balance Sheet & CapEx
Q1 2026 capital spending was $14 million ($8 million maintenance). Full-year 2026 CapEx is estimated at $60-75 million, with $35-45 million maintenance capital. The company is investing in a natural gas feedstock project at Coffeyville (with capacity expansion of up to 8%), a brownfield expansion at East Dubuque, water quality upgrades, and DEF capacity expansion. Funds are coming from reserves taken over the past few years.
Margins
Margins benefited from higher UAN and ammonia prices (up 34% and 24% YoY respectively) and strong utilization (103%). Direct operating expenses increased by $9 million YoY due to higher natural gas, electricity, and repair costs. EBITDA was $78 million on net sales of $180 million, implying an EBITDA margin of ~43%. Management targets utilization above 95% to drive operating leverage.
Key Risks
Key risks flagged include geopolitical conflicts (Middle East, Russia-Ukraine) that disrupt global supply and raise prices, potential damage to LNG facilities requiring years to repair, and uncertainty around farmer subsidy programs. Management also noted that inventory levels were already tight after large 2025 planting seasons, and the duration of Middle East issues remains unclear.
Generated by AI · Q1 2026 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-07-30
Q2 2026 saw strong financial and operational results, with net sales of $202M, net income of $78M, and 99% ammonia utilization. Geopolitical conflicts drove higher fertilizer prices, while capital projects and cash reserves support future growth. Distribution of $6.08 per unit declared.
Q1 2026 Q1 2026 2026-04-30
Q1 2026 saw strong financial results with $180M in sales, $50M net income, and 103% ammonia utilization. Higher fertilizer prices, driven by Middle East conflicts, boosted margins, while capital projects and cash reserves support future growth.
Q4 2025 Q4 2025 2026-02-19
Q4 2025 saw lower production and a net loss due to planned maintenance and startup issues, but strong fertilizer pricing and robust demand outlook support optimism for 2026. Liquidity remains solid, and capital projects are funded from reserves.
Q3 2025 Q3 2025 2025-10-30
Q3 2025 saw strong financial results with higher UAN and ammonia prices, robust distribution, and ongoing capital projects. Tight fertilizer inventories and favorable market conditions are expected to persist into 2026, despite geopolitical and supply risks.
Q2 2025 Q2 2025 2025-07-31
Q2 2025 saw strong financial results with $169M in net sales, $39M net income, and $67M EBITDA, driven by higher UAN and ammonia prices and volumes. Tight global supply and robust demand supported pricing, while capital projects and reliability upgrades are underway.
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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

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Investment Risk:
Investing in securities, including US equities and ETFs, involves inherent risks including the potential loss of principal. All investments are subject to market fluctuations, economic conditions, regulatory changes, and other factors that may affect their value. Past performance is not indicative of future results. This analysis is provided for informational and educational purposes only and should not be construed as investment advice under any circumstances.

No Investment Recommendation:
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Information Sources:
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