These transactions were conducted indirectly through Icahn-related entities, including American Entertainment Properties Corp. and IEP Energy Holding LLC. After these acquisitions, Icahn’s total ownership in CVR Partners (NYSE: ) now stands at 174,192 common units. CVR Partners, LP, headquartered in Sugar Land, Texas, is a key player in the agricultural chemicals sector, specializing in the production of nitrogen fertilizers. Trading at a P/E ratio of 15.27, the company appears undervalued on a fundamental basis InvestingPro Fair Value Analysis. The company’s shares are traded on the New York Stock Exchange under the symbol UAN. InvestingPro analysts have identified 7 additional key insights about UAN, available with a subscription.
These transactions were conducted indirectly through Icahn-related entities, including American Entertainment Properties Corp. and IEP Energy Holding LLC. Following these acquisitions, Icahn’s total ownership in CVR Partners now stands at 174,192 common units.
CVR Partners, LP, headquartered in Sugar Land, Texas, is a key player in the agricultural chemicals sector, specializing in the production of nitrogen fertilizers. The company’s shares are traded on the New York Stock Exchange under the symbol UAN.
In other recent news, CVR Partners, a key player in the agricultural chemicals industry, made significant announcements regarding financial results and executive compensation. The company recently announced an employment agreement with Executive Chairman David L. Lamp, effective January 1, 2025, replacing the current contract that expires at the end of December 2024. The new agreement includes an increased annual base salary for Mr. Lamp from 1.1 USD million to USD 1.2 million, along with a performance-based bonus plan and a long-term incentive plan.
On the financial side, CVR Partners reported third quarter 2024 results with net sales of $125 million, net income of $4 million and EBITDA of $36 million. A distribution of $1.19 per common unit was declared, demonstrating the company’s robust operating performance with ammonia plant utilization reaching 97%. The company also provided its outlook for the fourth quarter of 2024, projecting an ammonia recovery rate of between 92% and 97%, and projecting operating costs to be in the range of $60 million to $70 million.
These recent developments underscore CVR Partners’ commitment to operational efficiency and market responsiveness. Despite the unplanned outages in the upgrading units, which affected the volume of UAN sales, the company saw an increase in ammonia and UAN prices. The company remains cautious about geopolitical risks, but is optimistic about strong demand and favorable pricing conditions for its products.
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