CVR Partners Reports Strong Third Quarter 2025 Results, Declares $4.02 per Common Unit Distribution
CVR Partners, LP (NYSE: UAN) (“CVR Partners” or the “Partnership”), a leading manufacturer of ammonia and urea ammonium nitrate (“UAN”) fertilizer products, today announced solid financial and operational results for the third quarter ended September 30, 2025. The Partnership reported net income of $43 million, or $4.08 per common unit, and EBITDA of $71 million on net sales of $164 million, reflecting strong pricing and steady operations across its production facilities.
This compares favorably to the third quarter of 2024, when CVR Partners recorded net income of $4 million, or $0.36 per common unit, and EBITDA of $36 million on net sales of $125 million. The year-over-year improvement was primarily driven by higher realized fertilizer prices and efficient operations throughout the quarter.
Management Commentar
“CVR Partners achieved strong results for the third quarter of 2025, supported by safe, reliable plant operations and a combined ammonia production rate of 95 percent,” said Mark Pytosh, Chief Executive Officer of CVR Partners. “As the fall harvest season nears completion, demand for ammonia has remained robust, reflecting solid agricultural fundamentals and favorable market conditions.”
Pytosh added, “Looking ahead, we remain focused on our core priorities — maintaining safe and reliable operations, generating strong cash flow, and delivering value to our unitholders. Given our performance and continued market strength, CVR Partners is pleased to declare a third quarter 2025 cash distribution of $4.02 per common unit.”
Operational Performance
CVR Partners’ fertilizer production facilities operated reliably during the third quarter of 2025, with output levels slightly lower than the same period last year. During the quarter, the company produced a combined 208,000 tons of ammonia, compared to 212,000 tons produced in the third quarter of 2024.
Of the total ammonia produced in 2025, 59,000 net tons were available for sale, while the remainder was upgraded into other fertilizer products, including 337,000 tons of UAN. By comparison, in the third quarter of 2024, 61,000 net tons of ammonia were available for sale, with the remainder upgraded into 321,000 tons of UAN.
The slight decrease in ammonia production was primarily related to routine maintenance and operational timing differences. However, both ammonia and UAN output levels remained consistent with long-term production trends.
Stronger Pricing Environment
CVR Partners benefited from significantly higher fertilizer prices during the third quarter compared to the prior year. The average realized gate price for ammonia increased 33 percent year-over-year to $531 per ton, up from $399 per ton in the third quarter of 2024. Similarly, the average realized gate price for UAN rose 52 percent year-over-year to $348 per ton, compared to $229 per ton in the prior-year period.
These pricing improvements reflect favorable market dynamics, including strong domestic fertilizer demand, lower global inventories, and reduced nitrogen supply from certain international producers. In addition, steady agricultural activity in key U.S. markets supported healthy off-take volumes and pricing for both ammonia and UAN products.
Financial Summary
The combination of steady production and improved selling prices led to a significant increase in revenue and profitability compared to the third quarter of 2024.
- Net sales: $164 million (up from $125 million in Q3 2024)
- EBITDA: $71 million (up from $36 million in Q3 2024)
- Net income: $43 million (up from $4 million in Q3 2024)
- Earnings per common unit: $4.08 (up from $0.36 per unit in Q3 2024)
The Partnership’s financial results underscore its ability to capitalize on favorable market conditions while maintaining cost discipline and operational reliability.
Distribution Declaration
On October 29, 2025, the Board of Directors of the Partnership’s general partner declared a third quarter 2025 cash distribution of $4.02 per common unit. The distribution will be paid on November 17, 2025, to common unitholders of record as of November 10, 2025.
CVR Partners operates as a variable distribution master limited partnership (MLP). Accordingly, its quarterly distributions can fluctuate based on several factors, including operating performance, product pricing, maintenance capital expenditures, and the use of available cash reserves as determined by the Board.
The declared distribution reflects the Partnership’s strong cash generation during the quarter and its ongoing commitment to returning value to unitholders while preserving balance sheet flexibility.
Earnings Conference Call Information
CVR Partners previously announced that it will host its third quarter 2025 Earnings Conference Call on Thursday, October 30, 2025, at 11 a.m. Eastern Time. During the call, management will discuss quarterly results, recent business developments, and provide insights into market trends and operational priorities.
The live webcast of the call will be available on the Investor Relations section of the Partnership’s website at www.CVRPartners.com.
Investors and analysts who wish to participate in the live call can dial (800) 715-9871 and enter the conference ID 6969200. A replay of the call will be available for seven days by dialing (800) 770-2030 using the same conference ID. The webcast replay will also be archived on the company’s website for future reference.
Qualified Notice to Nominees and Brokers
This release also serves as a qualified notice under Treasury Regulation Section 1.1446-4(b). CVR Partners confirms that 100 percent of its distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business.
As such, distributions to foreign investors are subject to federal income tax withholding at the highest applicable effective tax rate. Nominees and brokers should take appropriate action to comply with withholding requirements under U.S. tax law.
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