CVR Energy Full Year 2023 Earnings: EPS Beats Expectations
CVR Energy (NYSE:CVI) Full Year 2023 Results
Key Financial Results
Revenue: US$9.25b (down 15% from FY 2022).
Net income: US$769.0m (up 66% from FY 2022).
Profit margin: 8.3% (up from 4.2% in FY 2022). The increase in margin was driven by lower expenses.
EPS: US$7.65 (up from US$4.61 in FY 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
CVR Energy EPS Beats Expectations
Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 9.0%.
Looking ahead, revenue is expected to decline by 6.5% p.a. on average during the next 2 years, while revenues in the Oil and Gas industry in the US are expected to grow by 1.2%.
Performance of the American Oil and Gas industry.
The company's shares are down 5.1% from a week ago.
Risk Analysis
It's necessary to consider the ever-present spectre of investment risk. We've identified 3 warning signs with CVR Energy (at least 1 which is concerning), and understanding them should be part of your investment process.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
