CVR Energy Reports Record Q3 2026 Earnings and Announces $4.2 Billion Refinery Acquisition
CVR Energy (CVI) delivered record-breaking third-quarter results for 2026, reporting net income attributable to stockholders of $570 million, or $5.67 per diluted share. The company's performance was driven by high crude utilization rates and elevated crack spreads within its petroleum segment. Adjusted EBITDA rose significantly to $582 million, compared to $180 million in the prior year period. In a major strategic move, CVR Energy entered into a definitive agreement to acquire Marathon Petroleum's St. Paul Park and Mandan refineries, along with associated marketing assets, for $4.2 billion. This acquisition is expected to nearly double the company's crude processing capacity from 207,000 to 384,000 barrels per day, significantly expanding its footprint into the Upper Midwest and Northern Great Plains.
Topics: acquisition crude processing capacity earnings report EBITDA refining margins