Cvr energy reports first quarter 2023 results and announces a cash dividend of 50 cents

Sugar land, texas, may 01, 2023 (globe newswire) -- cvr energy, inc. (“cvr energy” or the “company”) (nyse: cvi) today announced net income of $195 million, or $1.94 per diluted share, on net sales of $2.3 billion for the first quarter of 2023, compared to net income of $94 million, or 93 cents per diluted share, on net sales of $2.4 billion for the first quarter of 2022. adjusted earnings for the first quarter of 2023 was $1.44 per diluted share compared to adjusted earnings of 2 cents per diluted share in the first quarter of 2022, primarily driven by improved crack spreads. first quarter 2023 ebitda was $401 million, compared to first quarter 2022 ebitda of $278 million. adjusted ebitda for the first quarter of 2023 was $334 million, up from $155 million in the first quarter of 2022.
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