CVR Refining Q2 Profit Drops - Quick Facts

(RTTNews) - CVR Refining, LP ( CVRR) Thursday said second-quarter net income decreased to $180.0 million from $339.2 million in the prior year. Net income per common unit dropped to $1.22 from $2.30.

On average, 5 analysts polled by Thomson Reuters expected earnings of $1.00 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales improved to $2.466 billion from $2.138 billion in the prior year.

"Our refineries posted a combined crude throughput of 212,047 barrels per day (bpd) processed in the second quarter of 2014," said Jack Lipinski, chief executive officer, said.

He added that the unfortunate accident at the Coffeyville refinery on July 29 that injured four of our employees overshadow the results.

Throughputs of crude oil and all other feedstocks and blendstocks for the Coffeyville and Wynnewood refineries totaled 221,469 bpd in the quarter, compared to 201,925 bpd last year.

Based upon scheduled maintenance activities and the downtime associated with the July 29 incident at the Coffeyville refinery, the company anticipates total crude throughput of 165,000 bpd to 175,000 bpd for the third quarter.