Filing Flows › CVR Partners, LP (UAN) › Q2 2025
CVR Partners, LP (UAN) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 31, 2025
CVR Partners, LP (UAN) reported revenue of $169M for the second quarter 2025 (Q2 2025), +27% from a year earlier and +18% from the quarter before. Operating margin was 27.5%, net earnings $38.8M (23.0% of revenue).
CVR Partners, LP, Q2 2025: revenue $169M (+27% year over year), operating margin 27.5%, net earnings $38.8M, operating cash flow $24.1M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $169M | +18% | +27% |
| Operating profit | $46.3M | +34% | +38% |
| Net earnings | $38.8M | +43% | +48% |
| Operating cash flow | $24.1M | -56% | +180% |
| Free cash flow | $18.4M | -60% | +652% |
What changed
Revenue was $168.6M in Q2 2025, up 27% year over year and up 18% from the previous quarter. UAN was the largest line at 65% of revenue. UAN added $20.9M year over year (up 24%), 58% of the total change.
Operating profit was $46.3M, a 27.5% margin (up 2.2 points year over year). Of the extra revenue versus a year earlier, 36% reached operating profit, above the 25% margin then. Total costs grew 23% against revenue growth of 27%. The fastest-growing cost line was SG&A (+27%). Net earnings were $38.8M, up 48% year over year. The effective tax rate was 0.0%.
Operating cash flow was $24.1M (up 180% year over year), 62% of net earnings. Non-cash charges added back $20.9M of depreciation and amortization and $2.8M of share-based compensation. Working capital and other items used $38.4M. Capital expenditures of $5.7M left free cash flow of $18.4M.
Questions
What was CVR Partners, LP's revenue in the second quarter 2025?
CVR Partners, LP (UAN) reported revenue of $169M for the second quarter 2025 (Q2 2025), +27% from a year earlier and +18% from the quarter before.
Was CVR Partners, LP profitable in the second quarter 2025?
Operating profit was $46.3M (27.5% of revenue) and net earnings $38.8M.
Source: CVR Partners, LP 10-Q on SEC EDGAR.