Carl Icahn will increase stake in CVR Companions with $339,407 buy

These transactions have been performed not directly by way of entities related to Icahn, together with American Leisure Properties Corp. and IEP Vitality Holding LLC. Following these acquisitions, Icahn’s complete possession in CVR Companions (NYSE:UAN) now stands at 174,192 frequent items.CVR Companions, LP, primarily based in Sugar Land, Texas, is a key participant within the agricultural chemical compounds sector, specializing in nitrogen fertilizer manufacturing. Buying and selling at a P/E ratio of 15.27, the corporate seems undervalued primarily based on InvestingPro’s Truthful Worth evaluation. The corporate’s inventory is traded on the New York Inventory Trade beneath the ticker image UAN. InvestingPro analysts have recognized 7 further key insights about UAN, obtainable with a subscription.

These transactions have been performed not directly by way of entities related to Icahn, together with American Leisure Properties Corp. and IEP Vitality Holding LLC. Following these acquisitions, Icahn’s complete possession in CVR Companions now stands at 174,192 frequent items.

CVR Companions, LP, primarily based in Sugar Land, Texas, is a key participant within the agricultural chemical compounds sector, specializing in nitrogen fertilizer manufacturing. The corporate’s inventory is traded on the New York Inventory Trade beneath the ticker image UAN.

In different current information, CVR Companions, a key participant within the agriculture chemical compounds trade, has made important bulletins concerning its monetary efficiency and govt compensation. The corporate just lately disclosed an employment settlement with govt chairman David L. Lamp, efficient January 1, 2025, changing the present contract set to run out on the finish of December 2024. The brand new settlement contains an elevated annual base wage for Mr. Lamp from $1.1 million to $1.2 million, together with a performance-based bonus plan and long-term incentive plan.

By way of monetary efficiency, CVR Companions reported third quarter outcomes for 2024 with web gross sales of $125 million, a web earnings of $4 million, and EBITDA of $36 million. A distribution of $1.19 per frequent unit was declared, showcasing the agency’s sturdy operational efficiency with ammonia plant utilization reaching 97%. The corporate additionally supplied its outlook for the fourth quarter of 2024, projecting an ammonia utilization fee between 92% and 97%, and anticipating working bills to vary from $60 million to $70 million.

These current developments underline CVR Companions’ dedication to operational effectivity and market responsiveness. Regardless of experiencing unplanned downtime on the upgrading items, which impacted UAN gross sales volumes, the corporate noticed a rise in ammonia and UAN costs. The corporate stays cautious of geopolitical dangers however is optimistic as a result of sturdy demand and favorable pricing circumstances for its merchandise.

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