Nov 2 - Oil refiner and fertilizer maker CVR Energy Inc (CVI.N) reported a surprise quarterly loss, hurt by lower commodity prices and production halts at its refinery.
Net loss for the third quarter was $13.4 million, or 16 cents a share, compared with net income of $99.7 million, or $1.16 a share, in the year-ago quarter. Excluding items, the loss for the quarter was 8 cents a share.
Net sales fell 49 percent to $811.7 million.
Analysts on average, were expecting earnings of 1 cent a share, before special items, on revenue of $749.4 million, according to Thomson Reuters I/B/E/S.
CVR was impacted by unexpected production interruptions at its refinery, especially problems involving its fluid catalytic cracking unit and continuous catalytic reformer, Chief Executive Jack Lipinski said in a statement.
Shares of the Sugar Land, Texas-based company closed at $10.52 Monday on the New York Stock Exchange.
Net loss for the third quarter was $13.4 million, or 16 cents a share, compared with net income of $99.7 million, or $1.16 a share, in the year-ago quarter. Excluding items, the loss for the quarter was 8 cents a share.
Net sales fell 49 percent to $811.7 million.
Analysts on average, were expecting earnings of 1 cent a share, before special items, on revenue of $749.4 million, according to Thomson Reuters I/B/E/S.
CVR was impacted by unexpected production interruptions at its refinery, especially problems involving its fluid catalytic cracking unit and continuous catalytic reformer, Chief Executive Jack Lipinski said in a statement.
Shares of the Sugar Land, Texas-based company closed at $10.52 Monday on the New York Stock Exchange.
