What is the deal with UAN? Low volume, maybe no funds buying yet, but why not? At these level, and with planting much higher than expected, increased volume of production. Can anybody give me reason for prices in low range of the 52 week?
I'm not worried, because I know how Q2 will be positive. Just frustrated that UAN is getting such poor volume and performance with no reason.
Tell me why CVR's 2011 & '12 direct operating expenses of $90 million are 3 x higher than Terra's $35 million per yr. on less than 1/2 annual sales. Those boys in CVR are screwing their investors.
This is not responsible management.
Start out by determining what part of the 2012 expense profile included biannual turnaround expense and the plant expansion to increase UAN production, then re-calculate and let us know what you find.
Something related to the stock offering in May. 12 million units with an option for 1.8 million more at 25.15. I don't think it went according to plan. The stock price has not reflected the health of the business or the size of the payout since IMO.
Call it continued rotation away from interest sensitive positions and along with all the chatter of higher Nat gas, for incremental input cost variations. All fertilizer Cos. have been hit hard last 4-6 mo. re-invest and relax.