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CVR Energy reports higher Q3 net income

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CVR Energy reports higher Q3 net income

U.S. refiner CVR Energy Inc. on Oct. 23 reported net income attributable to its shareholders of $119 million, up from $81 million seen during the third quarter of 2018.

Third-quarter net sales came in at $1.62 billion, down from the $1.94 billion seen a year ago.

Operating income for the quarter was pegged at $159 million, compared to the $166 million recorded during the same quarter in 2018.

Total throughput for the quarter was 222,000 barrels per day, down slightly from the 220,755 bbl/d seen a year ago.

Total refinery production came in at 220,124 bbl/d, increasing from the 218,740 bbl/d posted during the corresponding quarter a year ago.

CVR Energy also declared a third-quarter cash dividend of 80 cents per share, up 7% from the previous dividend of 75 cents per share. The dividend will be payable Nov. 12 to shareholders of record on Nov. 4.