CVR Partners, LP reported a significant increase in financial performance for the fiscal year ending December 31, 2025, with net sales reaching $606.0 million, up from $525.3 million in 2024. This growth was primarily driven by favorable pricing for ammonia and urea ammonium nitrate (UAN), which saw increases of 22% and 27%, respectively. Operating income also rose to $128.7 million, compared to $90.4 million in the previous year, while net income increased to $98.7 million from $60.9 million. The Partnership's EBITDA for 2025 was reported at $210.9 million, reflecting a solid operational performance despite challenges.
The Partnership experienced a decrease in production volumes, with total ammonia production dropping to 761,000 tons from 836,000 tons in 2024, largely due to the 2025 Coffeyville Turnaround and subsequent operational outages. UAN production also fell to 1.17 million tons from 1.27 million tons. The decrease in production was partially offset by improved market conditions, which led to higher sales prices. The Partnership's ammonia utilization rate was reported at 88%, down from 96% in 2024, primarily due to the planned turnaround and operational issues.
Strategically, CVR Partners has focused on enhancing operational reliability and expanding production capabilities. In 2025, the Partnership completed the installation of a nitrous oxide abatement unit at the Coffeyville Facility, which is now equipped with such units across all its nitric acid plants. The Partnership is also exploring the potential to utilize natural gas as an alternative feedstock to pet coke, which could enhance production flexibility and efficiency. Additionally, the Partnership's workforce remained stable at 320 employees, with 88 covered by collective bargaining agreements.
Looking ahead, CVR Partners anticipates continued volatility in the nitrogen fertilizer market, influenced by global supply and demand dynamics, geopolitical factors, and regulatory changes. The Partnership's management remains focused on maintaining financial discipline and operational efficiency while navigating these challenges. The Board has declared a cash distribution of $0.37 per common unit for the fourth quarter of 2025, reflecting the Partnership's commitment to returning value to its unitholders. Overall, the outlook for CVR Partners remains cautiously optimistic, with a focus on leveraging its operational strengths to capitalize on market opportunities.
About CVR PARTNERS, LP
CVR Partners, LP produces and distributes nitrogen fertilizer products, primarily used in agriculture to enhance crop yields. Operating two manufacturing facilities in Kansas and Illinois, it manufactures ammonia, UAN, and upgrades ammonia into other nitrogen fertilizers. Serving U.S. farmers and industrial customers, it competes globally on price and quality, emphasizing environmentally responsible production and supply chain efficiency within the North American agricultural and fertilizer markets.
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