CVR Energy Inc (CVI) shares surged 5.9% in after-hours trading on Tuesday, following the company's better-than-expected fourth quarter earnings results.
The energy company reported an adjusted EBITDA of $67 million for the fourth quarter, significantly higher than the consensus estimate of $20.2 million. Additionally, CVR Energy's Q4 sales of $1.947 billion topped analysts' expectations of $1.880 billion.
Despite posting an adjusted loss per share of $0.13, which beat the consensus estimate of a $0.63 loss, CVR Energy reported a net income of $40 million and an operating income of $21 million for the quarter.
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