CVR Energy Q3 EPS $5.67 as Refining Margin Jumps; Details $4.2B Marathon Refinery Deal
CVI has more than doubled off its 52-week low of $19.62.
Summary
CVR Energy earned $5.67 per diluted share in Q3 2026 on $3.28 billion of sales, up from $3.72 a year earlier, and disclosed terms of its $4.2 billion cash purchase of two Marathon refineries.
Key Events · Earnings and Guidance · CVI
-
Q3 Profit More Than Doubles
Net income attributable to CVR Energy stockholders was $570 million, or $5.67 per diluted share, versus $374 million ($3.72) in Q3 2025, on net sales of $3,281 million versus $1,944 million.
-
Refining Margin Jumps on Crack Spreads
Petroleum Segment refining margin rose to $954 million ($45.56 per throughput barrel) from $708 million ($35.65), as the Group 3 2-1-1 crack spread averaged $68.50 per barrel versus $25.94 a year earlier.
-
$4.2B Marathon Refinery Purchase Terms
The November 2, 2026 agreement buys the St. Paul Park and Mandan refineries plus 17% stakes in two pipeline entities for about $4.2 billion cash, funded by a $2.5 billion bridge facility, $800 million of convertible preferred to a commercial partner, up to $500 million from IEP, and a planned common equity offering.
-
Fertilizer Segment Posts Q3 Loss
Nitrogen Fertilizer operating income fell to a $4 million loss from $51 million of income as the East Dubuque turnaround cut ammonia utilization to 80% from 95% and direct operating expenses rose $32 million.
Analysis · CVI · Energy & Transportation
Profit more than doubled to $570 million ($5.67 per share) from $374 million a year ago, powered by Group 3 2-1-1 crack spreads that averaged $68.50 per barrel versus $25.94 and lifted refining margin to $954 million from $708 million. The quarter also carries the first full terms of the $4.2 billion cash purchase of Marathon's St. Paul Park and Mandan refineries, funded with a $2.5 billion bridge commitment, $800 million of convertible preferred sold to a commercial partner, up to $500 million from Icahn Enterprises, and a planned common equity offering. Offsetting the refining strength: $259 million of derivative losses in the quarter, a fertilizer segment operating loss of $4 million on the East Dubuque turnaround, and an RFS liability that tripled to $230 million. Until the deal closes, expected before the end of 2026, the company must hold at least $500 million of unrestricted cash.
How filings like this one have moved
In the 30 days to Nov 3, 2026, 40.9% of the 1143 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.37%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, CVI was trading at $54.36 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $5.6B. The 52-week trading range was $19.62 to $63.51. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.