The following is a summary of the CVR Partners, LP Common Units (UAN) Q3 2024 Earnings Call Transcript:

Financial Performance:

• CVR Partners reported Q3 2024 net sales of $125 million, and net income of $4 million.

• EBITDA for the quarter was $36 million.

• A distribution of $1.19 per common unit was declared for Q3, payable on November 18.

Business Progress:

• Achieved an ammonia plant utilization rate of 97% for Q3 2024, demonstrating operational efficiency.

• Sold approximately 336,000 tons of UAN and 62,000 tons of ammonia, while managing to navigate unplanned downtime.

• Engaged in ongoing studies looking into the potential use of natural gas as an alternative feedstock which could provide increased feedstock flexibility if implemented.

Opportunities:

• With newly executed debottlenecking projects projected to improve both reliability and production rates at their facilities, CVR Partners aims to enhance operational efficiency and reduce downtime.

• Plans to potentially utilize natural gas as an alternative feedstock could provide advantageous cost and operational flexibility, maintaining competitiveness in the market.

Risks:

• Despite strong operational metrics, the company faces risks from geopolitical tensions in regions with significant fertilizer production capacities which could impact energy and fertilizer markets.

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