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Strategies & Market Trends : Value Investing

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To: Elroy who wrote (69566)2/22/2022 8:18:43 AM
From: E_K_S  Read Replies (1) of 78958
 
CVR Energy Partners Q4 results - strong earnings, ~21% forward dividend yield

Earnings - the Company earned $5.76/s in Q4, up from a $1.53/s loss in Q4 2020 and brining full-year 2021 earnings to $7.31/s.Dividend - the master-limited partnership announced a variable dividend of $5.24/s (21% forward yield).Balance sheet - during the quarter, Management redeemed $30m of 9.25% unsecured notes, and plans to redeem the remaining $65m balance by close of business Tuesday.Outlook - management expects Q4 momentum to continue through spring 2022 planting season, as high grain prices and low fertilizer inventories support continued price strength.Guidance - ammonia utilization rates are guided to 92-97% in Q1 2022, while operating expenses are estimated at $50-$55m and capex $4-$7m.
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