CVR Energy Narrows Loss to Near Breakeven in Q2 2026, Declares $0.10 Dividend
CVI sits 84% above its 52-week low of $19.62.
Summary
CVR Energy posted a near-breakeven Q2 2026, a massive swing from last year's loss, and declared a $0.10 dividend. Strong refining and fertilizer operations drove $209 million in adjusted EBITDA.
Key Events · Earnings and Guidance · CVI
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Q2 2026 Net Loss Narrows to $3M
Net loss attributable to CVR Energy stockholders was $3 million, or $0.03 per share, compared to a $114 million loss in Q2 2025. Adjusted earnings were $0.34 per share.
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Adjusted EBITDA Surges to $209M
Adjusted EBITDA reached $209 million, more than double the $99 million in Q2 2025, driven by higher refining margins and strong nitrogen fertilizer performance.
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Dividend Declared at $0.10/Share
The Board declared a cash dividend of $0.10 per share, payable August 17, 2026 to stockholders of record August 10, 2026 — the first dividend since at least early 2025.
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Petroleum Segment Runs at 98% Utilization
Total throughput averaged 212,965 bpd with crude utilization of 98.4%, capturing a Group 3 2-1-1 crack spread of $44.91/bbl. Adjusted refining margin was $12.43/bbl.
Analysis · CVI · Energy & Transportation
A dramatic improvement in refining margins and high utilization rates drove CVR Energy's net loss down to just $3 million in Q2 2026, from $114 million a year ago. Adjusted EBITDA surged to $209 million, and the company declared a $0.10 per share dividend — its first since at least early 2025. The petroleum segment ran at 98% crude utilization, capturing elevated crack spreads, while the nitrogen fertilizer segment benefited from tight global markets. With $737 million in cash and positive free cash flow, the results signal a sharp operational turnaround, though the company remains exposed to volatile commodity markets and RFS costs.
At the time of this filing, CVI was trading at $36.11 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $3.5B. The 52-week trading range was $19.62 to $41.67. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.