CVR Partners LP (CVR Partners LP) Operating Income : $202.9 Mil (TTM As of Dec. 2023)

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What is CVR Partners LP Operating Income?

CVR Partners LP's Operating Income for the three months ended in Dec. 2023 was $17.4 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2023 was $202.9 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. CVR Partners LP's Operating Income for the three months ended in Dec. 2023 was $17.4 Mil. CVR Partners LP's Revenue for the three months ended in Dec. 2023 was $141.6 Mil. Therefore, CVR Partners LP's Operating Margin % for the quarter that ended in Dec. 2023 was 12.29%.

Good Sign:

CVR Partners LP operating margin is expanding. Margin expansion is usually a good sign.

CVR Partners LP's 5-Year average Growth Rate for Operating Margin % was 83.10% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. CVR Partners LP's annualized ROC % for the quarter that ended in Dec. 2023 was 7.80%. CVR Partners LP's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 8.72%.

CVR Partners LP Operating Income Historical Data

The historical data trend for CVR Partners LP's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

CVR Partners LP Operating Income Chart

CVR Partners LP Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Operating Income

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30.78

6.67

135.43

320.18

202.94

CVR Partners LP Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Operating Income	Get a 7-Day Free Trial															101.99	109.54	66.79	9.21	17.40

CVR Partners LP Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $202.9 Mil.

CVR Partners LP (NYSE:UAN) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

CVR Partners LP's annualized ROC % for the quarter that ended in Dec. 2023 is calculated as:

	ROC % (Q: Dec. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Sep. 2023 )	+	Invested Capital (Q: Dec. 2023 ))	/ count )
=	69.6 * ( 1 - 2.08% )	/	( (871.663	+	876.332)	/ 2 )
=	68.15232	/	873.9975
=	7.80 %

where

	Invested Capital		(Q: Sep. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	1019.076	-	58.238	-	( 89.175	-	max(0, 113.227	-	203.396	+	89.175	))
=	871.663

	Invested Capital		(Q: Dec. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	975.332	-	53.721	-	( 45.279	-	max(0, 75.473	-	165.869	+	45.279	))
=	876.332

Note: The Operating Income data used here is four times the quarterly (Dec. 2023) data.

2. Joel Greenblatt's definition of Return on Capital:

CVR Partners LP's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Sep. 2023		Q: Dec. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	68.984	/	( ( (769.854 + max(3.331, 0))	+	(761.023 + max(48.293, 0)) )	/	2 )
=	68.984	/	( ( 773.185	+	809.316 )	/	2 )
=	68.984	/	791.2505
=	8.72 %

where Working Capital is:

	Working Capital		(Q: Sep. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(36.18	+	73.994	+	4.047)	-	(58.238	+	38.956	+	13.696)
=	3.331

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(41.893	+	69.165	+	9.532)	-	(53.721	+	15.796	+	2.78)
=	48.293

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

3. Operating Income is also linked to Operating Margin %:

CVR Partners LP's Operating Margin % for the quarter that ended in Dec. 2023 is calculated as:

Operating Margin %	=	Operating Income (Q: Dec. 2023 )	/	Revenue (Q: Dec. 2023 )
	=	17.4	/	141.619
	=	12.29 %

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.

Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.

CVR Partners LP Operating Income Related Terms

Thank you for viewing the detailed overview of CVR Partners LP's Operating Income provided by GuruFocus.com. Please click on the following links to see related term pages.

CVR Partners LP (CVR Partners LP) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Agriculture » CVR Partners LP (NYSE:UAN) » Definitions » Operating Income

Comparable Companies

Traded in Other Exchanges

N/A

Address

2277 Plaza Drive, Suite 500, Sugar Land, TX, USA, 77479

Website

https://www.cvrpartners.com

CVR Partners LP is a manufacturer and supplier of nitrogen fertilizer products. Its principal products include Urea Ammonium Nitrate (UAN) and ammonia. The company market ammonia products to industrial and agricultural customers and UAN products to agricultural customers. The primary geographic markets for its fertilizer products are Kansas, Missouri, Nebraska, Iowa, Illinois, Colorado, and Texas. The company's product sales are heavily weighted toward UAN.

Executives

Jordan Bleznick	director	C/O ENZON PHANNACEUTICALS, INC., 120 COMMERCE DRIVE (SUITE 135), CRANFORD NJ 07016
Mark A Pytosh	director	C/O CVR PARTNERS, LP, 2277 PLAZA DRIVE, SUITE 500, SUGAR LAND TX 77479
Melissa M Buhrig	officer: EVP, General Counsel & Sec.	C/O CVR ENERGY, INC., 2277 PLAZA DRIVE, SUITE 500, SUGAR LAND TX 77479
Dane J. Neumann	officer: Interim CFO, VP-Fin.&Treasurer	2277 PLAZA DRIVE, SUITE 500, SUGAR LAND TX 77479
Jeffrey D. Conaway	officer: VP, CAO & Corp. Controller	2277 PLAZA DRIVE, SUITE 500, SUGAR LAND TX 77479
David Willetts	director	16690 COLLINS AVENUE - PH-1, SUNNY ISLES BEACH FL 33160
Kapiljeet Dargan	director	16690 COLLINS AVE., SUITE PH-1, SUNNY ISLES BEACH FL 33160
Patricia A. Agnello	director	C/O ICAHN ENTERPRISES L.P., 16690 COLLINS AVE., PH, SUNNY ISLES FL 33160
Donna R Ecton	director	C/O BODY CENTRAL CORP., 6225 POWERS AVENUE, JACKSONVILLE FL 32217
Hunter Clark Gary	director	C/O ICAHN ENTERPRISES L.P., 16690 COLLINS AVE., PH, SUNNY ISLES FL 33160
Matthew W. Bley	officer: CAO and Corp. Controller	2277 PLAZA DRIVE, SUITE 500, SUGAR LAND TX 77479
Tracy Dawn Jackson	officer: EVP and CFO	19100 RIDGEWOOD PARKWAY, SAN ANTONIO TX 78259
Janice T Develasco	officer: VP-Env., Health, Safety & Sec.	2277 PLAZA DRIVE, SUITE 500, SUGAR LAND TX 77479
Blackstone Holdings I L.p.	10 percent owner	C/O THE BLACKSTONE GROUP, 345 PARK AVENUE, NEW YORK NY 10154
Gso Cactus Credit Opportunities Fund Lp	10 percent owner	345 PARK AVENUE, 31ST FLOOR, NEW YORK NY 10154