CVR ENERGY Reports 28.9% Decrease in Revenue for Q2 FY2023
August 14, 2023
☀️Earnings Overview
CVR ENERGY ($NYSE:CVI) reported total revenue of USD 2236.0 million for the second quarter of Fiscal Year 2023, which ended June 30 2023, showing a decrease of 28.9% compared to the same period in the previous year. Net income for the same period was USD 130.0 million, reflecting a year-over-year drop of 21.2%.
Analysis
GoodWhale recently conducted an analysis of CVR ENERGY‘s fundamentals and the results were very positive. The Star Chart showed that CVR ENERGY had a health score of 8/10, indicating that it has strong cashflows and is in low risk of bankruptcy. We have classified CVR ENERGY as a ‘gorilla’, a type of company that commands a strong competitive advantage and has achieved stable and high revenue or earnings growth. Given these characteristics, we believe that CVR ENERGY may be of interest to investors focusing on dividend, growth, and asset. Its profitability is also strong, but slightly lower than its other parameters. Therefore, investors looking for a stock with a strong performance and potential for growth should consider CVR ENERGY as an option. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Cvr Energy. More…
| Total Revenues | Net Income | Net Margin |
| 9.9k | 530 | 5.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Cvr Energy. More…
| Operations | Investing | Financing |
| 869 | -245 | -766 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Cvr Energy. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 4.22k | 3.46k | 7.51 |
Key Ratios Snapshot
Some of the financial key ratios for Cvr Energy are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 25.6% | 99.5% | 9.2% |
| FCF Margin | ROE | ROA |
| 7.6% | 79.3% | 13.4% |
Peers
CVR Energy Inc. is an American petroleum refining and marketing company headquartered in Sugar Land, Texas. The company was founded in 1876 as Continental Oil and Refining Company and was later renamed CVR Energy, Inc. in 2005. CVR Energy is majority-owned by billionaire investor Carl Icahn. The company operates two petroleum refineries, one in Coffeyville, Kansas and the other in Wynnewood, Oklahoma. CVR Energy also owns and operates a fleet of approximately 4,000 railcars and 4,000 miles of pipelines. The company markets its products under the CVR Refining and CVR Partners brands. CVR Energy’s competitors include Petrogress Inc., Petron Corp., and PBF Energy Inc.
– Petrogress Inc ($OTCPK:PGAS)
Petrogress Inc is an oil and gas company with a focus on exploration and production. The company has a market cap of $90.36 million and a return on equity of -103.24%. The company’s main operations are located in the United States and it has a portfolio of properties in the Gulf of Mexico, North Dakota, and Texas.
– Petron Corp ($PSE:PCOR)
Petron Corporation is a publicly-listed holding company based in the Philippines. The company is engaged in the business of oil refining, marketing, and distribution of petroleum products. It is also involved in the power generation and retail electricity businesses. The company has a market capitalization of 22.41 billion as of 2022 and a return on equity of 12.02%. Petron Corporation is one of the largest oil companies in the Philippines and is a major player in the country’s oil industry.
– PBF Energy Inc ($NYSE:PBF)
PBF Energy Inc is a leading refining and marketing company with operations in the United States. The company has a market cap of 5.53B as of 2022 and a ROE of 52.76%. The company operates through its subsidiaries, including PBF Holding Company LLC, PBF Logistics LP, and PBF Energy Partners LP. The company refines crude oil into petroleum products and markets them in the United States. The company also owns and operates crude oil storage facilities and terminals.
Summary
CVR Energy is an attractive investment opportunity for those looking for exposure to the energy sector. Net income also decreased by 21.2% year-over-year. CVR Energy has a strong balance sheet and continues to grow through strategic acquisitions and investments in new technologies.
Investors should be aware of the risks associated with this stock, including commodity price fluctuations and increasing competition in the energy sector. Despite these risks, CVR Energy remains an attractive option for long-term investors.
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