10-Q quarterly report · filed May 1, 2015

Cvr Partners LP (UAN) Q1 2015 10-Q Quarterly Report

Short answer

Cvr Partners LP (UAN) filed its Q1 2015 10-Q quarterly report on May 1, 2015 for the quarter ended Mar 31, 2015.

Cvr Partners LP Q1 2015 10-Q analysis

AI summary of MD&A and risk factor updates

Management Discussion & Analysis

  • Revenue $93.1M, up $12.8M YoY from $80.3M, driven by UAN and ammonia sales volumes
  • Operating margin 33.8% vs 28.8% YoY, with operating income $31.5M vs $23.1M
  • Best product line UAN: sales $78.9M vs $71.2M, volume 274,540 tons vs 254,671
  • Cash $72.6M vs $79.9M at December 31; operating cash flow $25.4M vs $35.6M
  • Capital deployment: $2.7M capital expenditures, $30.0M distributions; full facility turnaround planned for third quarter 2015

Risk Factors

  • No material risk-factor changes from the 2014 Form 10-K disclosed
  • Regulatory risk: Kansas property-tax reassessment remains unresolved after March 2015 BOTA asset classification decision
  • Operational risk: Pet coke supply concentration, over 70% sourced from CVR Refining during the last five years
  • Financial risk: $125.0 million term loan matures in April 2016
  • Compliance risk: Ongoing EHS obligations under stringent federal, state and local regulations

Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K

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