CVR Energy, Inc. (NYSE:CVI) Q1 2022 Earnings Conference Call May 3, 2022 1:00 PM ET
Company Participants
Richard Roberts - IR Officer
David Lamp - President, CEO & Director
Dane Neumann - EVP, CFO, Treasurer & Assistant Secretary
Conference Call Participants
Philip Gresh - JPMorgan Chase & Co.
Carly Davenport - Goldman Sachs Group
Manav Gupta - Crédit Suisse
Matthew Blair - Tudor, Pickering, Holt & Co.
Matthew Vittorioso - Jefferies
Paul Cheng - Scotiabank
Operator
Greetings, and welcome to the CVR Energy First Quarter 2022 Conference Call. [Operator Instructions]. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Richard Roberts, Vice President of Financial Planning and Analysis, Investor Relations. Thank you, sir. You may begin.
Richard Roberts
Thank you, Christine. Good afternoon, everyone. We very much appreciate you joining us this afternoon for our CVR Energy First Quarter 2022 Earnings Call. With me today are Dave Lamp, our Chief Executive Officer; Dane Neumann, our Chief Financial Officer; and other members of management. Prior to discussing our 2022 first quarter results, let me remind you that this conference call may contain forward-looking statements as that term is defined under federal securities laws.
For this purpose, any statements made during this call that are not statements of historical facts may be deemed to be forward-looking statements. You are cautioned that these statements may be affected by important factors set forth in our filings with the Securities and Exchange Commission and our latest earnings release. As a result, actual operations or results may differ materially from the results discussed in the forward-looking statements. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by law.
Let me also remind you that CVR Partners completed a 1-for-10 reverse split of its common units on November 23, 2020. Any per unit references made on this call are on a split adjusted basis. This call also includes various non-GAAP financial measures. The disclosures related to such non-GAAP measures, including reconciliation to the most directly comparable GAAP financial measures are included in our 2022 first quarter earnings release that we filed with the SEC and Form 10-Q for the period and will be discussed during the call. That said, I'll turn the call over to Dave.
David Lamp
Thank you, Richard. Good afternoon, everyone, and thank you for joining our earnings call. Yesterday, we reported first quarter consolidated net income of $153 million and earnings per share of $0.93. EBITDA for the quarter was $278 million. We posted higher results in both segments on a year-over-year basis as fundamentals in refining and fertilizer sector continued to improve during the first quarter.