Following these acquisitions, Icahn’s total interest in CVR Partners now stands at 174,192 common units.
The financial guru is Carl Icahn and decided in the last week to increase its participation in CVR Partners. This company based in Sugar Land, Texas, is a key player in the agricultural chemicalsspecialized in the production of nitrogen fertilizers.
These transactions were carried out indirectly through entities associated with Icahn, including American Entertainment Properties Corp. and IEP Energy Holding LLC. As officially reported, Icahn’s total interest in CVR Partners now stands at 174,192 common units.
agricultural retention field
Depositphotos
Finance guru gains prominence in agriculture
This company is listed on the New York Stock Exchange under the symbol UAN. An agreement with CEO David L. Lamp was recently released, which will take effect on January 1, 2025, replacing the current contract that expires at the end of December 2024.
Regarding financial performance, CVR Partners reported third quarter 2024 results with net sales of $125 million, a net profit of 4 million dollars and an EBITDA of 36 million dollars.
In turn, a distribution of $1.19 per common unit was also declared, “demonstrating the company’s solid operating performance with ammonia plant utilization of 97%,” analysts explained.
The company also provided its outlook for the fourth quarter of 2024, projecting an ammonia utilization rate between 92% and 97%and anticipating that operating expenses will range between $60 million and $70 million.
Source: Ambito
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