CVR Partners, LP · NYSE:UAN
CVR Partners, LP — Q1 2017 Earnings Presentation
10 slides from CVR Partners, LP's earnings presentation, Apr 27, 2017
Slide 1: CVR Partners, LP 1st Quarter 2017 Earnings Report
CVR Partners, LP 1st Quarter 2017 Earnings Report April 27, 2017
Slide 2: Safe Harbor Statement
1 The following presentation contains forward-looking statements based on management’s current expectations and beliefs, as well as a number of assumptions concerning future events. The assumptions and estimates underlying forward-looking statements are inherently uncertain and, although considered
Slide 3: Consolidated Selected Financials
2 Consolidated Selected Financials (All information in this earnings report is unaudited other than the balance sheet data as of December 31, 2016) On April 1, 2016, CVR Partners, LP (the "Partnership") completed the merger (the "East Dubuque Merger") whereby the Partnership acquired a nitrogen fert
Slide 4: Key Performance Indicators
3 Key Performance Indicators (1) East Dubuque turnaround occurred in Q2 2016 . Coffeyville On-Stream Rates East Dubuque On-Stream Rates(1) Consolidated Sales ( thousand tons) Consolidated Product Pricing at Gate ($ / ton)
Slide 5: Capital Structure and Debt Metrics
4 Capital Structure and Debt Metrics (1) Amounts presented are gross debt not net of unamortized debt issuance costs or unamortized discount. (2) Net debt is defined as total debt less cash and cash equivalents. (3) Reconciliation of this non-GAAP financial measure to the most directly comparable GA
Slide 6: Capital Spending
5 Capital Spending 2014 2015 2016 Q1 2017 2017 Estimate Maintenance 4.7$ 9.6$ 13.7$ 4.0$ 15.0$ Profit and Growth 16.4 7.4 9.5 0.1 0.1 Total Capital Spending 21.1$ 17.0$ 23.2$ 4.1$ 15.1$
Slide 7: Appendix
Appendix
Slide 8: Non-GAAP financial measures definitions
7 To supplement the actual results in accordance with GAAP for the applicable periods, the Partnership 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 for GAAP results. The
Slide 9: Non-GAAP Financial Measures
8 Non-GAAP Financial Measures (1) Definition of this non-GAAP financial measure is on slide 7 ($ in millions) 3/31/2017 3/31/2016 Net Income (loss) (10.3)$ 18.0$ Interest expense and other financing costs, net 15.7 1.7 Depreciation and amortization 15.4 7.0 Income tax expense - - EBITDA(1) 20.8$ 26.
Slide 10: Non-GAAP Financial Measures Pro Forma
9 Non-GAAP Financial Measures Pro Forma(2) (1) Definition of this non-GAAP financial measure is on slide 7 (2) The summary unaudited pro forma financial information for the LTM period assumes CVR Partners owned the East Dubuque Facility for all periods presented and also assumes the $645M principal