CVR Partners has lowered its FY 2013 distribution estimates to $1.80 to $2.00 per unit, from its previous range of $2.15 to $2.45 per unit.
The distribution soon to be paid is Q2 not Q3, so there are 2 more payments for FY 13.
Q1 and Q2 distributions were .61 and .583.
The new guidance implies 30-40c average distributions for the next 2 distributions.
I was more than surprised with the lower guidance for Q3+4. The CC IMO poor at best, not 1 question from analyst. Still holding half my original position, got to admit big let down at least for me. Holding what I have ..feeling teens not far off. AIMO GL all
It's very real, and just a hiccup.
Look...they deal with major, heavy duty industrial processes. They work with very high pressures, very high temperatures, very corrosive and explosive gasses, all on a huge scale. This is very dangerous stuff and it's very hard on equipment.
Expect some breakdowns...it's the nature of the business.