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CVR Energy (CVI) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 3, 2026 · CVR Energy (CVI) Q3 2026 earnings results →
Q3 2026 Revenue up 69% year over year to $3.3B · 17¢ of every $1 of revenue kept as net profit · operating margin 22.1%
CVR Energy made $3.3B in Q3 2026 (+69% Y/Y). Operating margin 22.1%, net earnings $570M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 3, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $3.3B in Q3 2026, up 69% year over year and up 20% from the previous quarter.
Operating profit was $0.72B, a 22.1% margin (down 4.3 points year over year). Of the extra revenue versus Q3 2025, 16% reached operating profit, below the 26% margin then. Total costs grew 79% against revenue growth of 69%. The fastest-growing cost line was Cost of revenue (+80%). Net earnings were $0.57B, up 52% year over year ($0.56B including minority interests, which bore $0.01B of losses). The effective tax rate was 20.0%.
Operating cash flow was $0.66B (up 302% year over year), 116% of net earnings. Non-cash charges added back $0.08B of depreciation and amortization and $0.03B of share-based compensation. After capital expenditures, net ($0.06B) and capitalized turnaround expenditures ($1.0M), free cash flow as the company reports it was $0.59B.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 3, 2026 | $3.3B | +69% | 22.1% | $570M | $655M |
| Q2 2026 | 10-Q | Jul 29, 2026 | $2.7B | +56% | 2.8% | $46.0M | $307M |
| Q1 2026 | 10-Q | Apr 29, 2026 | $2.0B | +20% | -7.3% | −$160M | $64.0M |
| Q4 2025 | 10-K | Feb 18, 2026 | $1.8B | -7% | -5.2% | −$116M | $0 |
| Q3 2025 | 10-Q | Oct 30, 2025 | $1.9B | +6% | 26.3% | $374M | $163M |
| Q2 2025 | 10-Q | Jul 31, 2025 | $1.8B | -10% | -5.8% | −$90.0M | $176M |
| Q1 2025 | 10-Q | Apr 29, 2025 | $1.6B | -12% | -8.0% | −$105M | −$195M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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Customers and suppliers named in filings
Sells to
- UAN · Stated in 10-K (named, share not stated) · source
- IEP · Stated in 10-K (named, share not stated) · source
About CVR Energy
CVR Energy, Inc. is a diversified holding company, formed in September 2006, primarily engaged in the petroleum refining and marketing industry, the renewable fuels industry, and the nitrogen fertilizer manufacturing industry through its interest in CVR Partners, LP, a publicly traded limited partnership (“CVR Partners”). As used in this Annual Report on Form 10-K, the terms “CVR Energy”, the “Company”, “we”, “us”, or “our” generally include the Company’s subsidiaries, including CVR Partners and its subsidiaries, as consolidated subsidiaries of the Company, unless otherwise noted or implied.
In its own words, from its 10-K, filed Feb 18, 2026.
CVR Energy against its Petroleum Refining peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +69% against the peers' median +46%. Operating margin: 22.1% against the peers' median 18.8%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| CVI CVR Energy | Q3 2026 | $3.3B | +69% | 22.1% |
| XOM ExxonMobil Holdings | Q3 2026 | $113.2B | +33% | 18.8% |
| CVX Chevron | Q3 2026 | $67.8B | +36% | 20.1% |
| MPC Marathon Petroleum | Q3 2026 | $56.0B | +61% | 18.7% |
| PSX Phillips 66 | Q3 2026 | $50.5B | +46% | 14.1% |
| VLO Valero Energy | Q3 2026 | $46.1B | +43% | 19.7% |
| COP ConocoPhillips | Q3 2026 | $19.4B | +29% | 30.8% |
| SUNC SunocoCorp LLC | Q3 2026 | $18.0B | +199% | 4.1% |
| PBF PBF Energy | Q3 2026 | $12.1B | +59% | 17.3% |
Source: CVR Energy 10-Q on SEC EDGAR · CIK 1376139 · Petroleum Refining
Guidance and outlook
13F: who owns CVI and who is buying
More on CVI
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results