CVR Energy (CVI) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and CVR Energy published the results on November 3, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. CVR Energy reports EPS two ways: GAAP, under the accounting rules every US filer follows, and adjusted EPS, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Q3 2026 results include about $253 million from the EPA's August 2026 decision granting Wynnewood Refining Company a full waiver from its Renewable Fuel Standard obligation for 2025. Q3 2025 included about $488 million from a similar decision covering 2019 through 2024.
• CVR Energy consolidates CVR Partners, the nitrogen fertilizer business, but owns about 37% of its common units. Net income attributable to CVR Energy stockholders ($570 million) was higher than net income ($563 million) because noncontrolling interests had a $7 million loss.
• Revenue is consolidated net sales. The Petroleum Segment row is third-party sales only; with $3 million of inter-segment sales it was $3,138 million.

Source: CVR Energy Q3 2026 results, November 3, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How CVR Energy splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• CVR Energy's Petroleum Segment revenue was $3.1 billion in Q3 2026, up 81% from $1.7 billion in Q3 2025, 96% of total revenue.
• CVR Energy's Nitrogen Fertilizer Segment revenue was $146 million in Q3 2026, down 11% from $164 million in Q3 2025, 4% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

CVR Energy's outlook is a table of low and high cases, with no revenue or EPS figure. For Q4 2026 it shows Petroleum total throughput of 210,000 to 225,000 barrels per day, crude utilization of 95% to 100%, Petroleum direct operating expenses of $115 million to $125 million, an ammonia utilization rate of 88% to 93%, and total capital expenditures of $75 million to $95 million.

In its Q3 2026 release, CVR Energy said:

“The table below summarizes our outlook for certain operational statistics and financial information for the fourth quarter of 2026.”

“Looking ahead, we remain optimistic about the near-term outlook while we seek to close on our transformative transaction with Marathon Petroleum by the end of the year.”

Source: CVR Energy Q3 2026 release, Nov 3, 2026.

This is the company's own guidance as of Nov 3, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the CVI forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

Net sales and basic and diluted EPS attributable to CVR Energy stockholders, each as first reported in that quarter's earnings release. CVR Energy also published preliminary Q4 2025 estimates on January 26, 2026.

We do not hold a confirmed date for CVR Energy's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Nov 3, 2026

CVR Energy's net sales were $3,281 million in Q3 2026, against $1,944 million a year earlier. The Petroleum Segment, two refineries in Coffeyville, Kansas and Wynnewood, Oklahoma with their crude gathering and logistics assets, produced $3,135 million of it: gasoline $1,397 million, distillates $1,597 million, crude oil sales $24 million and other revenue $117 million. The Nitrogen Fertilizer Segment, which is CVR Partners, had $146 million. (CVR Energy Form 10-Q, Q3 2026, Nov 3, 2026; CVR Energy Form 10-K, 2025, Feb 18, 2026)

CVR Energy's 10-Q says the increase in Petroleum net sales was primarily driven by higher gasoline and distillate prices combined with higher sales volume. The Group 3 2-1-1 crack spread rose $42.56 per barrel, which the 10-Q attributes primarily to the Iran War. The NYMEX 2-1-1 crack spread averaged $73.43 per barrel, against $28.24 a year earlier. (CVR Energy Form 10-Q, Q3 2026, Nov 3, 2026; CVR Energy Q3 2026 earnings release, Nov 3, 2026)

CVR Energy's refineries ran total throughput of 227,637 barrels per day, against 215,968, and crude utilization was 104.9% of the 206,500 bpd capacity. Gathered crude made up 121,329 bpd of throughput and Canadian crude 6,746 bpd. Gasoline production was 111,944 bpd and distillate 99,285 bpd. (CVR Energy Q3 2026 earnings release, Nov 3, 2026)

CVR Energy's fertilizer sales fell to $146 million from $164 million. A planned turnaround at the East Dubuque facility, completed in mid-October, cut the ammonia utilization rate to 80% from 95%. UAN pricing at the gate fell to $309 per ton from $348, while ammonia rose to $637 from $531. (CVR Energy Q3 2026 earnings release, Nov 3, 2026; CVR Energy Form 10-Q, Q3 2026, Nov 3, 2026)

CVR Energy's basic and diluted EPS was $5.67 in Q3 2026 and adjusted EPS was $4.00, against $3.72 and $0.40 a year earlier. The adjusted figure removes the favorable change in the RFS obligation ($2.36 per share), which includes the $253 million from the EPA's August 2026 waiver for 2025, more than 118 million RINs. It adds back unrealized losses on derivatives ($0.95) and removes favorable inventory valuation impacts ($0.26). (CVR Energy Q3 2026 earnings release, Nov 3, 2026)

CVR Energy's year-ago quarter had a larger waiver: the August 2025 decision reduced Wynnewood's obligations for 2019 through 2024 by more than 424 million RINs, about $488 million, and the year-ago adjustment for changes in the RFS obligation was $3.52 per share. Year-ago GAAP EPS was $3.72 and adjusted EPS $0.40 as a result. (CVR Energy Q3 2026 earnings release, Nov 3, 2026)

CVR Energy's income tax expense was $141 million, 20.0 percent of income before income taxes, against 17.9 percent a year earlier. The share count was 100.5 million in both periods. CVR Energy declared a cash dividend of 10 cents per share for the quarter. (CVR Energy Q3 2026 earnings release, Nov 3, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

CVR Energy's Q4 2026 outlook is operational, with no revenue or EPS figure: total throughput of 210,000 to 225,000 barrels per day, crude utilization of 95% to 100%, Petroleum direct operating expenses of $115 million to $125 million, an ammonia utilization rate of 88% to 93% and total capital expenditures of $75 million to $95 million. (CVR Energy Q3 2026 earnings release, Nov 3, 2026)

On November 2, 2026 CVR Energy agreed to buy Marathon Petroleum's St. Paul Park, Minnesota and Mandan, North Dakota refineries, 17% interests in Minnesota Pipe Line Company and MPL Investments, and the related wholesale marketing and logistics assets, for about $4.2 billion in cash. Its chief executive said CVR Energy seeks to close by the end of the year. (CVR Energy Form 10-Q, Q3 2026, Nov 3, 2026; CVR Energy Q3 2026 earnings release, Nov 3, 2026)

A consensus figure is the average of the models published by the analysts who cover CVR Energy, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones CVR Energy's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning CVI is on is CVI a buy or a sell?, what analysts expect next is on the CVI forecast, and what the company does is on the CVR Energy (CVI) stock page.

Every number on this page can be traced to a document CVR Energy published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.