10-Q quarterly report · filed Apr 26, 2018

Cvr Partners LP (UAN) Q1 2018 10-Q Quarterly Report

Short answer

Cvr Partners LP (UAN) filed its Q1 2018 10-Q quarterly report on Apr 26, 2018 for the quarter ended Mar 31, 2018.

Cvr Partners LP Q1 2018 10-Q analysis

AI summary of MD&A and risk factor updates

Management Discussion & Analysis

  • Revenue $79.9M, down $5.4M YoY from $85.3M, driven by lower ammonia volumes
  • Operating margin -4.3% vs 6.2% YoY, with operating loss $3.4M versus income $5.3M
  • Best product line UAN: sales $60.6M vs $57.6M; worst ammonia: $12.5M vs $19.9M YoY
  • Cash $61.1M vs $49.2M, operating cash flow $14.5M vs $30.0M, capital expenditures $2.7M
  • East Dubuque 12-day outage; Coffeyville turnaround expected to cost $7M, 2018 capital guidance $21M

Risk Factors

  • No material risk-factor changes, with litigation showing no new proceedings or material developments from the 2017 Form 10-K
  • Environmental compliance risk unchanged, with subsidiaries subject to stringent federal, state and local EHS regulations
  • Operational risk: Coffeyville Facility scheduled turnaround began in Q2 2018, creating potential production disruption
  • Market risk: fertilizer pricing and demand depend heavily on corn and wheat economics across North American wholesale markets
  • Financial risk: $645.0 million 9.250% senior secured notes mature June 15, 2023, while fixed-charge coverage remained below 1.75 to 1.0

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

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