CVR Energy Q3 Adj EPS $1.89 Misses $1.93 Estimate, Sales $2.52B Beat $2.38B Estimate
Portfolio Pulse from Benzinga Newsdesk
CVR Energy (NYSE:CVI) reported Q3 adjusted earnings of $1.89 per share, missing the analyst consensus estimate of $1.93 by 2.07%. This is a 0.53% decrease from the same period last year. However, the company's quarterly sales of $2.52 billion beat the analyst consensus estimate of $2.38 billion by 5.97%, despite being a 6.56% decrease from the same period last year.
October 30, 2023 | 8:49 pm
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NEGATIVE IMPACT
CVR Energy's Q3 earnings missed estimates but sales exceeded expectations. The company's earnings per share decreased by 0.53% YoY, while sales decreased by 6.56% YoY.
CVR Energy's earnings miss could negatively impact the company's stock price in the short term. However, the sales beat might mitigate some of this negative impact. The YoY decrease in both earnings and sales could also be a concern for investors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100