Key Takeaways
- CVR Partners reports Q4 2025 net loss of $10 million, compared to $18 million net income in Q4 2024
- Full-year 2025 net income rises to $99 million, up from $61 million in 2024
- Average realized gate prices for ammonia and UAN increased year-over-year in both Q4 and full-year 2025
- Fourth quarter production impacted by planned turnaround and third-party air separation plant issues
- Board declares $0.37 per common unit cash distribution for Q4 2025
CVR Partners Posts Q4 2025 Net Loss Amid Planned Downtime
CVR Partners, LP (NYSE: UAN), a manufacturer of ammonia and urea ammonium nitrate (UAN) solution fertilizer products, reported a net loss of $10 million, or 97 cents per common unit, for the fourth quarter of 2025. EBITDA for the quarter was $20 million on net sales of $131 million.
In the fourth quarter of 2024, CVR Partners posted net income of $18 million, or $1.73 per common unit, and EBITDA of $50 million on net sales of $140 million.
Mark Pytosh, Chief Executive Officer of CVR Partners, stated: “CVR Partners’ fourth quarter results were impacted by a 32-day planned turnaround at our Coffeyville fertilizer plant followed by subsequent downtime due to three weeks of startup issues at the third-party air separation plant. While volumes available to ship were down, prices remained strong for nitrogen fertilizer and we are pleased to declare a cash distribution of 37 cents per common unit for the fourth quarter, bringing the cumulative cash distributions declared for 2025 to $10.54 per common unit.”
He added: “As we are nearing spring, nitrogen fertilizer market conditions continue to be supportive with tight global supply balances and continued strong demand, and pricing has remained robust so far this year.”
CVR Partners Consolidated Operations
Production at CVR Partners’ fertilizer facilities declined year-over-year in the fourth quarter. The company produced 140,000 tons of ammonia in Q4 2025, of which 62,000 net tons were available for sale, with the remainder upgraded to other fertilizer products, including 169,000 tons of UAN.
In Q4 2024, production totaled 210,000 tons of ammonia, with 80,000 net tons available for sale and 310,000 tons upgraded to UAN.
Average realized gate prices in Q4 2025 increased compared to the prior year. Ammonia prices rose 32 percent to $626 per ton, while UAN prices increased 55 percent to $355 per ton. In Q4 2024, ammonia and UAN prices averaged $475 and $229 per ton, respectively.
For full-year 2025, CVR Partners reported net income of $99 million, or $9.33 per common unit, and EBITDA of $211 million on net sales of $606 million. This compares to net income of $61 million, or $5.76 per common unit, and EBITDA of $179 million on net sales of $525 million for full-year 2024.
Full-year ammonia production reached 761,000 tons in 2025, with 243,000 net tons available for sale and 1,174,000 tons upgraded to UAN. Average realized gate prices for full-year 2025 rose 22 percent for ammonia to $582 per ton and 27 percent for UAN to $314 per ton.
Distribution Announcement
CVR Partners announced that the board of directors of its general partner declared a fourth quarter 2025 cash distribution of $0.37 per common unit. The distribution will be paid on March 9, 2026, to common unitholders of record as of March 2, 2026.
Read the complete financial results.
