Company Quick10K Filing
CVR Refining
10-Q 2018-09-30 Filed 2018-10-25
10-Q 2018-06-30 Filed 2018-07-26
10-Q 2018-03-31 Filed 2018-04-27
10-K 2017-12-31 Filed 2018-02-26
10-Q 2017-09-30 Filed 2017-11-03
10-Q 2017-06-30 Filed 2017-07-28
10-Q 2017-03-31 Filed 2017-05-01
10-K 2016-12-31 Filed 2017-02-21
10-Q 2016-09-30 Filed 2016-10-28
10-Q 2016-06-30 Filed 2016-08-01
10-Q 2016-03-31 Filed 2016-05-02
10-K 2015-12-31 Filed 2016-02-19
10-Q 2015-09-30 Filed 2015-10-30
10-Q 2015-06-30 Filed 2015-07-30
10-Q 2015-03-31 Filed 2015-05-01
10-K 2014-12-31 Filed 2015-02-20
10-Q 2014-09-30 Filed 2014-11-03
10-Q 2014-06-30 Filed 2014-08-01
10-Q 2014-03-31 Filed 2014-05-02
10-K 2013-12-31 Filed 2014-02-26
10-Q 2013-09-30 Filed 2013-11-04
10-Q 2013-06-30 Filed 2013-08-02
10-Q 2013-03-31 Filed 2013-05-02
10-K 2012-12-31 Filed 2013-03-14
8-K 2019-01-29 Shareholder Rights, Regulation FD, Other Events, Exhibits
8-K 2019-01-17 Regulation FD, Exhibits
8-K 2019-01-07 Regulation FD, Exhibits
8-K 2018-10-24 Earnings, Regulation FD, Exhibits
8-K 2018-09-28 Officers
8-K 2018-09-18 Officers
8-K 2018-09-17 Regulation FD, Exhibits
8-K 2018-09-04 Regulation FD, Exhibits
8-K 2018-07-25 Earnings, Regulation FD, Exhibits
8-K 2018-05-02 Officers, Regulation FD, Exhibits
8-K 2018-04-26 Earnings, Regulation FD, Exhibits
8-K 2018-03-23 Officers
8-K 2018-02-22 Earnings, Regulation FD, Exhibits
8-K 2018-02-22 Earnings, Regulation FD, Exhibits

CVR Refining Financials

CVRR Metrics, Comps, Filings

Quarterly | Annual

Business

CVR Refining, LP and, unless the context otherwise requires, its subsidiaries ("CVR Refining," the "Partnership," "we," "us," or "our") is an independent downstream energy limited partnership with refining and related logistics assets that operates in the mid-continent region. Our common units are listed on the New York Stock Exchange ("NYSE") under the symbol "CVRR."

We are a petroleum refiner and own two of only seven refineries in Group 3 of the PADD II region of the United States. We own and operate a complex full coking medium-sour crude oil refinery in Coffeyville, Kansas with a rated capacity of 115,000 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 oil (within its rated capacity of 70,000 bpcd). The combined crude capacity represents approximately 23% of the region's refining capacity. In addition, we also control and operate supporting logistics assets including (i) approximately 570 miles of active owned, leased and joint venture pipelines, (ii) approximately 130 crude oil transports, (iii) a network of strategically located crude oil gathering tank farms, (iv) approximately 6.4 million barrels of owned and leased crude oil storage, and (v) over 4.6 million barrels of combined refined products and feedstocks storage capacity. The strategic location of our refineries, combined with our supporting logistics assets, provide us with a significant crude oil cost advantage relative to our competitors. Furthermore, our Coffeyville refinery located in southeast Kansas and the Wynnewood refinery located 65 miles south of Oklahoma City, Oklahoma, are approximately 100 miles and 130 miles, respectively, from the crude oil hub at Cushing, Oklahoma ("Cushing"), and have access to inland domestic and Canadian crude oils that are priced based on the price of WTI. During the year ended December 31, 2017, the crude oil consumed at the refineries was price advantaged to WTI.

During the fourth quarter of 2017, we entered into a joint venture, Midway Pipeline LLC ("Midway"), with a subsidiary of Plains All American Pipeline, L.P. ("Plains"), which acquired the approximately 100-mile, 16-inch pipeline that connects our Coffeyville refinery to the Cushing oil hub, and we separately acquired from Plains the approximately 100-mile, 8- and 10-inch pipeline system connecting our Wynnewood refinery to Cushing. Refer to Part II, Item 8, Note 6 ("Equity Method Investments") of this Report for a discussion of the joint venture transaction.


Valuation ($BB)

Market Cap, Enterprise Value

Balance Sheet ($BB)

Assets, Equity

Income Statement ($BB Quarterly)

Revenue, G Profit, Net Income

Cash Flow ($BB Quarterly)

Ops, Inv, Fin

Comps ($MM TTM) Market Cap Gross Margin EV/EBITDA Ret on Assets Assets Liabilities Revenue G Profit Net Income EBITDA EV
Equinor Asa (EQNR) 69,994 0% 112,508 69,519 0 0 0 0 69,493
ConocoPhillips (COP) 63,532 68% 5.6 9% 70,340 35,101 28,530 19,471 6,514 13,251 74,205
Phillips 66 (PSX) 47,659 10% 8.8 8% 58,741 31,649 109,045 10,532 4,883 6,429 56,474
Marathon Petroleum (MPC) 40,180 9% 8.8 4% 98,139 54,515 125,838 10,767 4,188 7,645 66,934
Valero Energy (VLO) 34,803 4% 12.9 5% 51,229 30,122 109,175 4,321 2,476 3,234 41,836
Imperial Oil (IMO) 20,274 0% 8.0 5% 41,907 16,942 25,979 0 1,929 2,953 23,707
Hess (HES) 18,322 0% 10.9 -0% 21,631 11,454 4,874 0 -57 2,106 23,000
HollyFrontier (HFC) 8,992 16% 6.2 8% 12,191 6,171 17,449 2,797 933 1,695 10,436
YPF (YPF) 5,145 0% 994,016 631,659 0 0 0 0 5,145
CVR Energy (CVI) 4,330 9% 6.2 11% 3,962 2,237 6,532 599 455 781 4,828
PBF Energy (PBF) 3,242 4% 25.7 1% 8,917 5,363 18,207 678 67 189 4,867
CVR Refining (CVRR) 2,908 8% 6.5 16% 2,505 1,059 6,656 524 410 470 3,053
Delek US (DK) 2,868 8% 4.9 6% 6,793 4,930 9,489 739 420 787 3,861
Calumet Specialty (CLMT) 331 17% 7.6 1% 2,161 2,098 2,674 457 13 212 1,610
Trecora Resources (TREC) 229 12% 18.0 -0% 331 140 272 33 -1 17 309
Vertex Energy (VTNR) 49 14% 58.0 -5% 121 71 121 17 -6 1 68
BP Prudhoe Bay (BPT)
Suncor Energy (SU)
China Petroleum & Chemical (SNP) 0% 1,592,308 735,773 0 0 0 0 -0
BP (BP) 0% 282,176 180,628 0 0 0 0 -6,148

Balance Sheet ($MM)2013-03-312013-06-302013-09-302013-12-312014-03-312014-06-302014-09-302014-12-312015-03-312015-06-302015-09-302015-12-312016-03-312016-06-302016-09-302016-12-312017-03-312017-06-302017-09-302017-12-312018-03-312018-06-302018-09-30
Cash525483250280413420359370422433501187146159286314409516560174107258398
Accounts Receivable27327323323524824222413012717012589101134127138128128131169164162194
Inventory493556647494510498484294278314249252227272266291290256282331367384370
PP&E1,8371,8861,9422,0062,0562,0972,1432,1802,2142,2552,3132,3682,4102,4222,4382,4572,4762,5022,5162,5482,5602,5682,562
Assets2,6932,8002,6862,5332,7692,7852,6922,4182,4202,5162,5062,1952,1172,1932,2772,3322,3722,4472,5012,2702,2952,3662,505
Accounts Payable326330349341358347364270256273279254241214198226220214265312323335388
Long-Term Debt551551562581581581580580580581580580580579579547546546546545544544543
Liabilities1,0151,0141,0111,0111,0481,0281,0549689779589549149049019701,0351,0081,1031,0861,0239689961,059
Stockholders' Equity1,6781,7861,6751,5221,7221,7571,6381,4501,4421,5581,5521,2811,2131,2921,3071,2971,3641,3441,4141,2471,3271,3701,446
Income Statement ($MM)2013-03-312013-06-302013-09-302013-12-312014-03-312014-06-302014-09-302014-12-312015-03-312015-06-302015-09-302015-12-312016-03-312016-06-302016-09-302016-12-312017-03-312017-06-302017-09-302017-12-312018-03-312018-06-302018-09-30
Revenue2,2742,1381,9102,3612,3752,4662,2151,7731,3041,5481,3629488341,1641,1641,2691,4241,3381,3861,5171,4581,8241,857
Cost of Revenue1,2351,3371,3261,2671,4481,3431,6791,662
Gross Profit35871211969115145195
R&D
SG&A1717181918201817181820191921172218
Tax00000000000000000000
Net Income27533986-11026535922-10847228139-122-687816-1167-1970-29147118174
Cash Flow ($MM)2013-03-312013-06-302013-09-302013-12-312014-03-312014-06-302014-09-302014-12-312015-03-312015-06-302015-09-302015-12-312016-03-312016-06-302016-09-302016-12-312017-03-312017-06-302017-09-302017-12-312018-03-312018-06-302018-09-30
Cash Operating24022816118258199130128148160258-93338146811166316242256
Cash Investing-45-35-61-64-58-47-49-37-42-36-45-71-44-24-19-21-21-18-16-15-18
Cash Financing177-234-188-25-67-145-142-80-55-112-145-149-0-0-0-32-0-0-67-76-98