CVR Partners Reports Q4 and Full-Year 2025 Financial Results
Fourth Quarter 2025 Highlights
For Q4 2025, CVR Partners reported a net loss of $10 million, or $0.97 per common unit, compared with net income of $18 million, or $1.73 per common unit, in Q4 2024. EBITDA for the quarter was $20 million, down from $50 million in the prior year. Net sales for the fourth quarter totaled $131 million, compared to $140 million in Q4 2024.
CEO Mark Pytosh noted, “Our Q4 results were impacted by a 32-day planned turnaround at our Coffeyville fertilizer plant and subsequent downtime due to three weeks of startup issues at a third-party air separation facility. Despite lower volumes, nitrogen fertilizer prices remained strong, and we are pleased to declare a Q4 cash distribution of $0.37 per common unit, bringing the cumulative cash distributions for 2025 to $10.54 per unit.”
Full-Year 2025 Financial Results
For the full year 2025, CVR Partners reported net income of $99 million, or $9.33 per common unit, compared to $61 million, or $5.76 per unit, in 2024. Full-year EBITDA reached $211 million, up from $179 million in 2024. Total net sales for 2025 were $606 million, an increase from $525 million in 2024.
Pytosh added, “Looking ahead to spring, nitrogen fertilizer market conditions remain supportive, with tight global supply balances and strong demand. Pricing has remained robust so far this year.”
Operational Overview
Fertilizer Production
Production at CVR Partners’ facilities declined compared to Q4 2024. The company produced 140,000 tons of ammonia during the fourth quarter, of which 62,000 tons were available for sale, with the remainder converted into other fertilizer products, including 169,000 tons of UAN. In Q4 2024, production was 210,000 tons of ammonia, with 80,000 net tons available for sale and 310,000 tons of UAN produced.
For the full year 2025, total ammonia production was 761,000 tons, of which 243,000 tons were net available for sale, and 1,174,000 tons of UAN were produced. In 2024, the company produced 836,000 tons of ammonia, with 270,000 net tons available for sale, and 1,273,000 tons of UAN.
Pricing Trends
Average realized gate prices for Q4 2025 were $626 per ton for ammonia and $355 per ton for UAN, representing increases of 32% and 55%, respectively, from Q4 2024. For full-year 2025, average ammonia and UAN prices were $582 and $314 per ton, respectively, up 22% and 27% over 2024 prices.
Distributions
The board of directors of CVR Partners’ general partner declared a Q4 2025 cash distribution of $0.37 per common unit, payable on March 9, 2026, to unitholders of record as of March 2, 2026.
As a variable distribution master limited partnership, CVR Partners’ distributions may vary quarterly based on operating performance, product pricing, capital expenditures, and cash management decisions made by the board.
Qualified Notice for Foreign Investors
This release serves as a qualified notice under Treasury Regulation Section 1.1446-4(b). 100% of CVR Partners’ distributions to foreign investors are attributable to income effectively connected with a U.S. trade or business and are subject to federal income tax withholding at the highest effective tax rate.
About CVR Partners, LP
Headquartered in Sugar Land, Texas, CVR Partners, LP is a Delaware limited partnership focused on the production, marketing and distribution of nitrogen fertilizer products. It primarily produces urea ammonium nitrate (UAN) and ammonia, which are predominantly used by farmers to improve the yield and quality of their crops. CVR Partners’ Coffeyville, Kansas, nitrogen fertilizer manufacturing facility includes a 1,300 ton-per-day ammonia unit, a 3,100 ton-per-day UAN unit and a dual-train gasifier complex having a capacity of 89 million standard cubic feet per day of hydrogen. CVR Partners’ East Dubuque, Illinois, nitrogen fertilizer manufacturing facility includes a 1,075 ton-per-day ammonia unit and a 950 ton-per-day UAN unit.
Investors and others should note that CVR Partners may announce material information using SEC filings, press releases, public conference calls, webcasts, and the Investor Relations page of its website. CVR Partners may use these channels to distribute material information about the Partnership and to communicate important information about the Partnership, corporate initiatives and other matters. Information that CVR Partners posts on its website could be deemed material; therefore, CVR Partners encourages investors, the media, its customers, business partners and others interested in the Partnership to review the information posted on its website.
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