Short answer
Cvr Partners LP (UAN) filed its fiscal 2017 10-K annual report with the SEC on Feb 23, 2018. It reported revenue of $331M (−7.2% year over year) and net income of −$73M.
- Top risk flagged: CERCLA exposure: strict liability for historic or future contamination at Coffeyville and East Dubuque facilities
FY2017 key financial metrics · XBRL
- Revenue
- $331M
- −7.2% YoY
- Net income
- −$73M
- −170.2% YoY
- Operating margin
- -2.8%
- −10.3 pp YoY
- EPS (diluted)
- −$0.64
- −146.2% YoY
- Operating cash flow
- $10M
- −76.9% YoY
Source: XBRL data from the Cvr Partners LP (UAN) FY2017 10-K on SEC EDGAR. USD.
Cvr Partners LP FY2017 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Nitrogen fertilizer producer, converting pet coke and natural gas into wholesale UAN and ammonia at two Midwest facilities
- Coffeyville’s pet coke gasification remained North America’s only such nitrogen-fertilizer operation
- Product mix optimization emphasized: 88% of Coffeyville ammonia upgraded to UAN, 44% of East Dubuque ammonia upgraded
- Net sales $330.8 million, net loss $72.8 million, and 304 direct employees in 2017
- CVR Energy ownership structure: 34% of CVR Partners’ common units versus 66% of CVR Refining’s units
Management Discussion & Analysis
- Net sales $330.8M, down $25.5M YoY from $356.3M, driven by lower UAN and ammonia pricing
- Net loss $72.8M vs $26.9M; operating margin -2.8% vs 7.5%
- Coffeyville worst-performing facility: net sales $195.8M, down $32.5M; East Dubuque contributed approximately $135.0M
- Operating cash flow $10.4M; capital expenditures $14.5M, including $14.1M maintenance
- Distribution $0.02 per common unit; 2018 capex guidance $18M maintenance and $3M growth, with fertilizer oversupply and price volatility key risks
Risk Factors
- CERCLA exposure: strict liability for historic or future contamination at Coffeyville and East Dubuque facilities
- Agricultural exposure: Great Plains and Midwest customer concentration heightens weather-driven fertilizer demand volatility
- Supply vulnerability: over 70% of Coffeyville pet coke sourced from CVR Refining, with HollyFrontier agreement ending December 2018
- Competitive threat: low natural gas prices advantage natural-gas-based producers over Coffeyville’s pet-coke gasification process
- Liquidity risk: $49.2 million cash and $43.8 million ABL availability as of December 31, 2017 against debt obligations
Generated from the filing text; verify against the original. How to read a 10-K
Other Cvr Partners LP annual reports
Ask about this 10-K
Compare years, dig into a risk factor or check the numbers against insider trades and fund holders.