=CVR Refining (CVRR) reported earnings on Wed 1 Nov 2017 (b/o)

CVR Refining misses by $0.04, beats on revs; announces distribution, CEO to retire, forms 50/50 JV with Plains All American Pipeline (PAA) 

• Reports Q3 (Sep) GAAP earnings of $0.47 per share, $0.04 worse than the Capital IQ GAAP Consensus of $0.51; revenues rose 19.1% year/year to $1.39 bln vs the $1.2 bln two analyst estimate.
• Third quarter 2017 throughputs of crude oil and all other feedstocks and blendstocks totaled 213,606 bpd. Throughputs of crude oil and all other feedstocks and blendstocks for both refineries totaled 206,733 bpd for the same period in 2016.
• Adjusted EBITDA, a non-GAAP financial measure, for the 2017 third quarter was $138.6 million compared to adjusted EBITDA of $75.3 million for the 2016 third quarter.
• The co announced that Jack Lipinski, chief executive officer and president, will retire on Dec. 31, 2017. Lipinski, who also serves as the chief executive officer and president of CVR Refining, LP and the executive chairman of CVR Partners, LP, will be succeeded by David Lamp. At first, and to facilitate a transition, Mr. Lamp will assume the role of co-CEO effective Dec. 1, 2017. Effective Jan. 1, 2018, Mr. Lamp will assume the role of CEO. Most recently, Mr. Lamp was President and COO of Western Refining Company.
• The co and Plains All American Pipeline, L.P. (PAA) announced the formation of a 50/50 joint venture, Midway Pipeline, LLC, which has acquired the approximately 100-mile, 16-inch Cushing to Broome pipeline system from Plains. The Cushing to Broome pipeline system connects CVR Refining's Coffeyville, Kansas, refinery, which has a rated capacity of 115,000 barrels per calendar day, to the Cushing, Oklahoma, oil hub. Midway will contract with Plains to continue its role as operator of the pipeline.
• CVR Refining also announced today a third quarter 2017 distribution of 94 cents per common unit. The distribution, as set by the board of CVR Refining GP, LLC, the general partner of CVR Refining, will be paid on Nov. 17, 2017, to unitholders of record on Nov. 10, 2017.

This week's biggest % winners & losers : Oct. 9 - 13, 17 (wk 41)

The following are this week's top 20 percentage gainers and top 20 percentage losers, categorized by sectors (over $300 mln market cap and 100K average daily volume).

This week's top 20 % gainers

• Healthcare: ARDX (7.28 +28.76%), AERI (61.7 +17.19%), FPRX (43.36 +11.62%), LCI (23.25 +10.45%)
• Materials: PVG (12.01 +22.93%), RFP (6.4 +20.75%), FBR (16.32 +11.4%), MERC (13.18 +10.25%)
• Consumer Discretionary: CETV (4.8 +10.34%)
• Information Technology: ICHR (32.55 +23.25%), GLUU (4.35 +15.69%), NTNX (26.6 +14.93%), SOHU (64.96 +13.05%), CEVA (47.55 +11.49%), UCTT (33.54 +10.33%), TYPE (22.15 +10.2%)
• Financials: NOAH (40.13 +13.59%)
• Energy: HLX (7.86 +18.55%), SM (19.04 +12.13%), CVRR (11.35 +11.27%)

This week's top 20 % losers

• Healthcare: ATRS (2.33 -40.23%), NSTG (11.08 -31.52%), ONVO (1.55 -24.02%), SGRY (8.95 -20.8%), ARA (12.49 -19%), CYH (5.77 -18.73%), ADMS (19.05 -17.57%), CBPO (79.98 -16.84%), THC (13.15 -15.97%)
• Industrials: HDSN (5.95 -21.61%)
• Consumer Discretionary: ASNA (1.79 -18.26%), FRED (5.41 -17.15%)
• Information Technology: CCRC (12.79 -20.26%), AAOI (47.18 -18.89%), HAWK (34.9 -18.74%), HIMX (9.33 -15.41%)
• Energy: SDRL (0.29 -22.89%), PKD (0.98 -18.48%), CIE (1.05 -17.32%)
• Utilities: PCG (57.72 -16.15%)

CVR Refining (CVRR) +50% (9-10/17)

Petroleum refining company

• Headquarters: Sugar Land, TX
• Founded: 2012
• Parent organization: CVR Energy (CVI)
• cvrrefining.com

  

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History of Dividends

Declared Ex-Dividend  Record Date Payment	Payout Amount

04/27/2016	05/05/2016	05/09/2016	05/16/2016	$0.000
02/17/2016	02/25/2016	02/29/2016	03/07/2016	$0.000
10/28/2015	11/05/2015	11/09/2015	11/16/2015	$1.010
07/29/2015	08/06/2015	08/10/2015	08/17/2015	$0.980
04/29/2015	05/07/2015	05/11/2015	05/18/2015	$0.760
02/18/2015	02/26/2015	03/02/2015	03/09/2015	$0.370
10/29/2014	11/06/2014	11/10/2014	11/17/2014	$0.540

Description

CVR Refining, LP is an independent downstream energy limited partnership with refining and related logistics assets that operates in the mid-continent region. The Company is a petroleum refiner. It owned and operated a complex full coking medium-sour crude oil refinery in Coffeyville, Kansas with a rated capacity of 115,000 barrels per calendar day (bpcd) and a complex crude oil refinery in Wynnewood, Oklahoma with a rated capacity of 70,000 bpcd capable of processing 20,000 bpcd of light sour crude oils (within its rated capacity of 70,000 bpcd), as of December 31, 2016. In addition, it also controlled and operated supporting logistics assets, including approximately 340 miles of active owned and leased pipelines, approximately 150 crude oil transports, a network of crude oil gathering tank farms, approximately 6.4 million barrels of owned and leased crude oil storage and over 4.5 million barrels of combined refined products and feedstocks storage capacity, as of December 31, 2016.

Key stats and ratios

	Q2 (Jun '17)	2016
Net profit margin	-1.43%	0.35%
Operating margin	-0.55%	1.76%
EBITD margin	-	4.67%
Return on average assets	-3.20%	0.68%
Return on average equity	-5.69%	1.19%
Employees	968