By Sabela Ojea
CVR Energy logged lower sales in the fourth quarter because of reduced crack spread pricing and throughputs.
The stock was up 5.1% to $19.43 in postmarket trading. Through Tuesday's close, shares dropped 47% over the past 12 months.
The petroleum refining company posted a fourth-quarter net profit of $28 million, or 28 cents a share, compared with $91 million, or 91 cents a share, for the same period a year earlier.
Stripping out one-time items, the company's losses per share were 13 cents. Analysts polled by FactSet had forecast wider quarterly losses of 63 cents.
Sales fell 12% to $1.95 billion, ahead of the $1.85 billion forecast by Wall Street.
"We commenced our planned Coffeyville [Kansas] turnaround early, which should position us well for the improvement in cracks we expect as summer driving season begins and capacity rationalization occurs," Chief Executive Dave Lamp said.
Write to Sabela Ojea at sabela.ojea@wsj.com
(END) Dow Jones Newswires
February 18, 2025 18:04 ET (23:04 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。