CVR Energy Posts $0.80 Q4 Loss on $1.81B Revenue, Prices $1B Debt
CVR Energy reported a Q4 2025 loss per share of $0.80 on $1.81 billion revenue, missing the EPS forecast while topping revenue estimates. The company completed converting its Wynnewood facility back to hydrocarbon processing, booked accelerated depreciation, ended the year with $511 million cash, and priced $1 billion in senior notes.
1. Q4 Financial Results
CVR Energy reported a fourth-quarter 2025 loss per share of $0.80, missing the consensus of $0.59, while generating $1.81 billion in revenue versus $1.76 billion expected. The revenue beat was driven by stronger refining margins and higher throughput at its petroleum refining units.
2. Facility Reversion and Outlook
During Q4, the company reverted its Wynnewood facility from renewable diesel production back to hydrocarbon refining, triggering accelerated depreciation charges that contributed to the loss. Management highlighted confidence in intermediate-term refining demand growth, citing limited new capacity additions globally.
3. Liquidity and Capital Moves
CVR Energy finished 2025 with $511 million in cash and approved a $0.37 per unit dividend payable March 9. On January 29, it priced $600 million of 2031 notes and $400 million of 2034 notes to refinance existing debt and strengthen its balance sheet.