CVR Energy releases its second-quarter reports.
They are reporting a decline in net income for the quarter compared to the same period last year. CVR attributes the decrease to lower refining margins and reduced production due to a refinery fire at their Wynnewood, OK, facility. CEO David Lamp says processes at Wynnewood are back at full capacity. While the company posts adjusted earnings per share of nine cents and adjusted EBITDA of $87 million, these figures are below the previous year's performance.
Despite the challenges, CVR Energy maintains shareholder returns with a 50 cent per share cash dividend, while its subsidiary, CVR Partners, declares a $1.90 per common unit cash distribution.




