BUZZ-CVR Energy falls after downbeat Q3 results

Reuters
2024-10-29

** Shares of oil refiner CVR Energy fall 22.8% to $18.38 premarket

** Company posts Q3 adj. loss of 50 cents​​ per share, vs analysts' estimate of a 9-cent loss - LSEG data

** Q3 revenue of $1.83 bln below estimates of $1.91 bln

** Company's Q3 results for its refining business were impacted by reduced refining throughputs attributable to unplanned downtime at both facilities partially caused by external power supply outages during the quarter - CEO Dave Lamp

** Avg. rating of analysts covering the stock is "sell"; median PT is $23 - LSEG data

** As of last close, stock down 21.4% YTD

(Reporting by Sukriti Gupta in Bengaluru)

((Sukriti.Gupta@thomsonreuters.com;))

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