Cvr Partners LP (UAN) Q3 2016 10-Q Quarterly Earnings

Short answer

Cvr Partners LP (UAN) filed its Q3 2016 10-Q quarterly report on Oct 28, 2016 for the quarter ended Sep 30, 2016.

AI summary of MD&A and risk factor updates

Quarterly revenue $78.5M, up $29.2M YoY from $49.3M, driven by East Dubuque acquisition
Operating margin 3.1% vs negative 23.9% YoY, operating income $2.4M vs loss $11.8M
UAN remained largest product, $53.9M sales vs $44.8M; ammonia fastest growth, $17.1M vs $3.8M
Operating cash flow $18.4M vs $1.1M; capital expenditures $6.4M, including $3.0M growth spending
Cash $65.3M vs $50.0M at December 31; fertilizer pricing weakened, Coffeyville turnaround planned for second half of 2017

Newly triggered goodwill impairment risk: fertilizer pricing declines and lower cash-flow forecasts prompted interim testing on September 30, 2016
Most material financial update: $645.0 million 9.25% Senior Notes due 2023 replaced prior facilities, increasing interest burden
Regulatory and compliance risk: ongoing federal, state and local environmental, health and safety requirements at Coffeyville operations
Near-term operational risk: East Dubuque turnaround caused $6.6 million of direct operating costs and lost production
Liquidity and concentration risk: $48.0 million ABL availability versus $624.5 million long-term debt, with fertilizer pricing driving cash flows

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

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