CVR Energy Inc. · NYSE:CVI
CVR Energy — Q1 2017 Earnings Presentation
13 slides from CVR Energy's earnings presentation, Apr 27, 2017
Slide 1: 1st Quarter 2017 Earnings Report
1st Quarter 2017 Earnings Report April 27, 2017
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation should be reviewed in conjunction with CVR Energy, Inc.’s First Quarter earnings conference call held on April 27, 2017. The following information contains forward-looking statements based on management’s current expectations and beliefs, as well as a num
Slide 3: Consolidated Results First Quarter
Consolidated Results First Quarter (In millions, except for EPS/EPU/Distributions) 3/31/2017 3/31/2016 Percent Change Net income (loss) attributable to CVR Energy stockholders $ 22.2 $ (16.2) -237% Diluted earnings (loss) per share $ 0.26 $ (0.19) -237% Adjusted net income per diluted share(1) $ 0.2
Slide 4: Capital Structure
Capital Structure $600 $400 $200 $0 -$200 2014 2015 2016 Q1 2017 Note: Refer to slide 8 for metrics used in calculation (1) Amounts presented are gross debt not net of unamortized debt issuance costs or unamortized discount Financial Metrics 2014 2015 2016 Q1 2017 LTM w Debt to Capital 41% 41% 58% 5
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Slide 6: Non-GAAP Financial Measures
Non-GAAP Financial Measures To supplement the actual results in accordance with GAAP for the applicable periods, the Company also uses non-GAAP financial measures as discussed below, which are reconciled to GAAP-based results. These non-GAAP financial measures should not be considered an alternative
Slide 7: Non-GAAP Financial Measures (cont'd)
Non-GAAP Financial Measures (cont'd) Adjusted net income (loss) is not a recognized term under GAAP and should not be substituted for net income (loss) as a measure of our performance but rather should be utilized as a supplemental measure of financial performance in evaluating our business. Managem
Slide 8: Capital Structure Financials
Capital Structure Financials Full Year LTM ($ in millions) 2014 2015 2016 Q1 2017 n Cash $ 753.7 $ 765.1 $ 735.8 $ 803.6 n Total Debt, including current portion(1) 674.9 673.5 1,194.1 1,193.7 n Net Debt (Cash) (78.8) (91.6) 458.3 390.1 n CVR Stockholders' Equity 988.1 984.1 858.1 836.9 n Adjusted EB
Slide 9: Consolidated Full Year LTM Adjusted EBITDA reconciliation
Consolidated Non-GAAP Financial Measures Financials Full Year LTM ($ in millions) 2014 2015 2016 Q1 2017 Net income attributable to CVR Energy stockholders $ 173.9 $ 169.6 $ 24.7 $ 63.1 Interest expense and other financing costs, net of interest income 39.1 47.4 83.2 98.1 Income tax expense (benefit
Slide 10: Consolidated Year to Date Adjusted Net Income
Consolidated Non-GAAP Financial Measures Financials Year to Date ($ in millions, except per share data) 3/31/2017 3/31/2016 Income (loss) before income tax expense $ 53.0 $ (52.7) FIFO impact, unfavorable 0.3 8.8 Major scheduled turnaround expenses 12.9 29.4 (Gain) loss on derivatives, net (12.2) 1.
Slide 11: Consolidated Year to Date EBITDA
Consolidated Non-GAAP Financial Measures Financials Year to Date ($ in millions) 3/31/2017 3/31/2016 Net income (loss) attributable to CVR Energy stockholders $ 22.2 $ (16.2) Interest expense and other financing costs, net of interest income 26.8 11.9 Income tax expense (benefit) 14.8 (21.8) Depreci
Slide 12: Petroleum Year to Date
Petroleum Non-GAAP Financial Measures Financials Year to Date ($ in millions) 3/31/2017 3/31/2016 Petroleum net income (loss) $ 67.0 $ (68.0) Interest expense and other financing cost, net of interest income 11.2 10.8 Income tax expense — — Depreciation and amortization 34.1 31.5 Petroleum EBITDA(1)
Slide 13: Fertilizer Year to Date
Fertilizer Non-GAAP Financial Measures Financials Year to Date ($ in millions) 3/31/2017 3/31/2016 Nitrogen Fertilizer net income (loss) $ (10.3) $ 18.0 Interest expense and other financing costs, net 15.7 1.7 Income tax expense — — Depreciation and amortization 15.4 7.0 Nitrogen Fertilizer EBITDA(1