CVR Partners Files Form 10-K Annual Report For Fiscal Year Ended December 31, 2024

CVR Partners, LP (NYSE: UAN), a manufacturer of ammonia and urea ammonium nitrate (UAN) solution fertilizer products, has filed its annual report on Form 10-K for the fiscal year ended December 31, 2024. The Partnership reported strong financial performance, driven by safe, reliable operations and a combined ammonia production rate of 96 percent for the year. Despite challenging weather conditions during the fall application, nitrogen fertilizer demand was strong in the fourth quarter, with higher prices compared to the third quarter and strong shipments. During the 2025 first quarter, supply and demand for nitrogen fertilizer products have been tight and prices have continued to increase, creating favorable market conditions for the spring planting season.



CVR Partners had 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, compared to net income of $172 million, or $16.31 per common unit, and EBITDA of $281 million on net sales of $681 million for full-year 2023. The Partnership declared a fourth quarter 2024 cash distribution of $1.75 per common unit, bringing the cumulative cash distributions declared for 2024 to $6.76 per common unit.



CVR Partners' fertilizer facilities produced a combined 836,000 tons of ammonia for full-year 2024, of which 270,000 net tons were available for sale, while the rest was upgraded to other fertilizer products, including 1,273,000 tons of UAN. For full-year 2023, the fertilizer facilities produced a combined 864,000 tons of ammonia, of which 270,000 net tons were available for sale, while the remainder was upgraded to other fertilizer products, including 1,369,000 tons of UAN.

For full-year 2024, the average realized gate price for UAN declined by 20 percent to $248 per ton and ammonia declined 16 percent to $479 per ton when compared to full-year 2023. Average realized gate prices for UAN and ammonia were $309 per ton and $573 per ton, respectively, for full-year 2023.

CVR Partners' strong operating results and high ammonia utilization rates have contributed to its success. The Partnership's focus on safe, reliable operations and high ammonia utilization rates has enabled it to achieve robust financial performance, generate value for unitholders, and position itself to capitalize on favorable market conditions. As the Partnership continues to focus on high utilization of its plants and the generation of free cash flow, it is well-positioned for future growth and success.