$UAN

CVR PARTNERS, LP

CIK:0001425292|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Net sales	$ 202,194	$ 168,559	$ 382,242	$ 311,425
Operating costs and expenses:
Cost of materials and other	28,078	32,547	57,504	60,448
Direct operating expenses (exclusive of depreciation and amortization)	58,676	60,517	121,881	115,003
Depreciation and amortization	22,220	20,861	42,183	38,902
Cost of sales	108,974	113,925	221,568	214,353
Selling, general and administrative expenses	7,536	8,034	16,565	15,922
Loss on asset disposal and project write-offs	868	282	1,645	242
Operating income	84,816	46,318	142,464	80,908
Other (expense) income:
Interest expense, net	(7,397)	(7,580)	(15,245)	(15,307)
Other income, net	85	30	198	255
Income before income taxes	77,504	38,768	127,417	65,856
Income taxes	0	0	0	0
Net income	$ 77,504	$ 38,768	$ 127,417	$ 65,856
Basic earnings per common unit (in dollars per unit)	$ 7.33	$ 3.67	$ 12.06	$ 6.23
Diluted earnings per common unit (in dollars per unit)	$ 7.33	$ 3.67	$ 12.06	$ 6.23
Weighted-average common units outstanding:
Basic (in units)	10,570	10,570	10,570	10,570
Diluted (in units)	10,570	10,570	10,570	10,570

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net income	$ 127,417	$ 65,856
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	42,183	38,902
Share-based compensation	3,355	4,299
Other adjustments	2,800	611
Changes in working capital:
Accounts receivable	(22,766)	14,727
Inventories	(10,801)	1,698
Prepaid expenses and other current assets	425	(834)
Accounts payable	(2,911)	381
Deferred revenue	5,669	(44,863)
Other current liabilities	(3,695)	(1,284)
Net cash provided by operating activities	141,676	79,493
Cash flows from investing activities:
Capital expenditures	(32,042)	(15,618)
Return of equity method investment	5,146	4,888
Other investing activities	0	40
Net cash used in investing activities	(26,896)	(10,690)
Cash flows from financing activities:
Cash distributions to common unitholders	(46,189)	(42,385)
Principal payments of finance leases	(378)	(2,875)
Net cash used in financing activities	(46,567)	(45,260)
Net increase in cash and cash equivalents	68,213	23,543
Cash and cash equivalents, beginning of period	69,243	90,857
Cash and cash equivalents, end of period	137,456	114,400
Related Party
Cash flows from financing activities:
Cash distributions to common unitholders	(18,198)	(16,527)
Nonrelated Party
Cash flows from financing activities:
Cash distributions to common unitholders	$ (27,991)	$ (25,858)

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 137,456	$ 69,243
Accounts receivable, net	81,723	58,956
Inventories	94,020	82,683
Prepaid expenses	1,454	1,498
Other current assets	332	1,487
Total current assets	314,985	213,867
Property, plant, and equipment, net	698,593	711,824
Other long-term assets	43,638	43,764
Total assets	1,057,216	969,455
Current liabilities:
Deferred revenue	31,821	22,980
Other current liabilities	24,413	25,350
Total current liabilities	104,616	96,773
Long-term liabilities:
Long-term debt and finance lease obligation, net of current portion	568,955	569,068
Long-term deferred revenue	17,448	20,621
Other long-term liabilities	19,228	17,252
Total long-term liabilities	605,631	606,941
Commitments and contingencies (See Note 9)
Partners’ capital:
Common unitholders, 10,569,637 and 10,569,637 units issued and outstanding as of June 30, 2026 and December 31, 2025, respectively	346,968	265,740
General partner interest	1	1
Total partners’ capital	346,969	265,741
Total liabilities and partners’ capital	1,057,216	969,455
Nonrelated Party
Current liabilities:
Accounts payable	44,539	44,659
Related Party
Current liabilities:
Accounts payable	$ 3,843	$ 3,784