David Lamp

“Before I discuss our results for the quarter, I want to address an incident at the Wynnewood refinery that occurred over the weekend, early Sunday morning, during severe weather in the area.”

“For the full year of 2023, we reported a consolidated net income of $878 million, earnings per share of $7.65 and an EBITDA of $1.4 billion. At the segment level, we generated $1.2 billion of EBITDA in the Petroleum segment and $281 million of EBITDA in the Fertilizer segment.”

“Yesterday, we reported first-quarter consolidated net income of $153 million and earnings per share of $0.93. EBITDA for the quarter was $278 million. We posted higher results in both segments on a year-over-year basis as fundamentals in the refining and fertilizer sector continued to improve during the first quarter.”

“This morning, we reported CVR Energy's full-year and fourth quarter results for the full year of ’21. We reported a net income of $74 million, inclusive of non-controlling interest, or $25 million attributed to CVI shareholders.”

“Before I get into our results, I wanted to make a few comments about some exciting developments. While we believe fossil fuels will certainly be necessary for many years to come, we recognized that renewable fuels are an important part of the future.”