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Yahoo Finance Plus CVR Energy Third Quarter 2022 Earnings: Revenues Beat Expectations, EPS Lags
CVR Energy (NYSE:CVI) Third Quarter 2022 Results
Key Financial Results
Revenue: US$2.70b (up 43% from 3Q 2021).
Net income: US$93.0m (up 11% from 3Q 2021).
Profit margin: 3.4% (down from 4.5% in 3Q 2021). The decrease in margin was driven by higher expenses.
EPS: US$0.93 (up from US$0.84 in 3Q 2021).
All figures shown in the chart above are for the trailing 12 month (TTM) period
CVR Energy Revenues Beat Expectations, EPS Falls Short
Revenue exceeded analyst estimates by 12%. Earnings per share (EPS) missed analyst estimates by 43%.
Looking ahead, revenue is expected to fall by 9.1% p.a. on average during the next 3 years compared to a 6.5% decline forecast for the Oil and Gas industry in the US.
Performance of the American Oil and Gas industry.
The company's shares are up 3.2% from a week ago.
Risk Analysis
We don't want to rain on the parade too much, but we did also find 3 warning signs for CVR Energy (1 is a bit unpleasant!) that you need to be mindful of.
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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.
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