CVR Energy (NYSE:CVI) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$1.97b (down 12% from 2Q 2023).

• Net income: US$21.0m (down 84% from 2Q 2023).

• Profit margin: 1.1% (down from 5.8% in 2Q 2023). The decrease in margin was driven by lower revenue.

• EPS: US$0.21 (down from US$1.29 in 2Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

CVR Energy Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 9.5%. Earnings per share (EPS) also surpassed analyst estimates.

Looking ahead, revenue is expected to decline by 3.7% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in the US are expected to grow by 2.6%.

Performance of the American Oil and Gas industry.

The company's shares are up 16% from a week ago.

Risk Analysis

Before we wrap up, we've discovered 3 warning signs for CVR Energy (1 shouldn't be ignored!) that you should be aware of.

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