CVR Energy, Inc. (NYSE:CVI) Q4 2023 Earnings Conference Call February 21, 2024 1:00 PM ET

Company Participants

Richard Roberts - Vice President, Financial Planning and Analysis, and Investor Relations

David Lamp - President and Chief Executive Officer

Dane Neumann - Chief Financial Officer

Conference Call Participants

Neil Mehta - Goldman Sachs

Matthew Blair - Tudor, Pickering, Holt & Co.

John Royall - JPMorgan Chase & Co.

Manav Gupta - UBS Group AG

Paul Cheng - Scotiabank

Operator

Greetings, and welcome to the CVR Energy Fourth Quarter 2023 Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [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 and 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 fourth quarter 2023 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 2023 fourth quarter and full year 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 from Securities and Exchange Commission and in 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.

This call also includes various non-GAAP financial measures. The disclosures related to such non-GAAP measures, including reconciliation and the most directly comparable GAAP financial measures, are included in our 2023 fourth quarter earnings release that we filed with the SEC and Form 10-K for the period and will be discussed during the call.

With 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. For the full year of 2023, we reported a consolidated net income of $878 million, earnings per share of $7.65 and an EBITDA of $1.4 billion. At the segment level, we generated $1.2 billion of EBITDA in the Petroleum segment and $281 million of EBITDA in the Fertilizer segment.