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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