CVR Partners (UAN) Q3 2026 earnings summary

Executive summary

• Q3 2026 net sales were $146.2 million, net loss was $10.7 million, or $1.02 per common unit, and EBITDA was $19.7 million; East Dubuque’s turnaround weighed on results.

• 9M net income rose to $116.7 million from $108.9 million; cash and available ABL capacity totaled $203.4 million at September 30.

• A $1.79-per-unit Q3 distribution was declared, payable November 23 to unitholders of record November 16.

Financial highlights

• Q3 net sales were $146.2 million versus $163.5 million YoY; operating loss was $3.6 million versus operating income of $50.6 million.

• Q3 net loss was $10.7 million versus net income of $43.1 million YoY; EBITDA was $19.7 million versus $70.6 million.

• 9M net sales were $528.4 million, operating income was $138.8 million, and net income was $116.7 million, versus $475.0 million, $131.5 million, and $108.9 million, respectively.

• 9M EBITDA was $204.6 million versus $190.7 million YoY.

Outlook and guidance

• Q4 ammonia utilization is forecast at 88%–93%; direct operating expenses at $58 million–$63 million, excluding depreciation, turnaround expenses, and inventory adjustments; turnaround expenses at $4 million–$6 million.

• Q4 capital spending is forecast at $26 million–$34 million; FY 2026 capital expenditures are estimated at $95 million–$104 million.

• East Dubuque’s brownfield expansion is expected to increase ammonia capacity by ~5%; sustainable operation at the higher level is to be tested in Q4.

• Coffeyville’s natural-gas/pet-coke dual-feedstock project is in final engineering and permitting; construction is expected in 2028, subject to Board approval.