CVR Energy Profit Rises Amid Lower Sales

(RTTNews) - CVR Energy Inc. (CVI), a company engaged in petroleum refining and nitrogen fertilizer manufacturing, on Thursday reported second-quarter net income of $101.9 million or $1.17 per share compared with $83.7 million or $0.96 per share last year.

Excluding items, adjusted earnings for the quarter were $0.83 per share compared with $0.87 per share a year ago.

Analysts polled by Thomson Reuters estimated earnings of $0.86 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter were lower at $1.62 billion, down from $2.54 billion a year ago.

The company has announced a quarterly cash dividend of $0.50 per share.