Stock Analysis
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CVR Energy Third Quarter 2024 Earnings: Misses Expectations
CVR Energy (NYSE:CVI) Third Quarter 2024 Results
Key Financial Results
- Revenue: US$1.83b (down 27% from 3Q 2023).
- Net loss: US$124.0m (down by 135% from US$353.0m profit in 3Q 2023).
- US$1.23 loss per share (down from US$3.51 profit in 3Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
CVR Energy Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 4.0%. Earnings per share (EPS) also missed analyst estimates significantly.
Looking ahead, revenue is forecast to stay flat during the next 3 years compared to a 2.5% growth forecast for the Oil and Gas industry in the US.
Performance of the American Oil and Gas industry.
The company's shares are down 26% from a week ago.
Risk Analysis
Before we wrap up, we've discovered 3 warning signs for CVR Energy (2 are a bit concerning!) that you should be aware of.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
About NYSE:CVI
CVR Energy
Engages in the petroleum refining and marketing, and nitrogen fertilizer manufacturing activities in the United States.