CVR Energy (CVI) FY2016 results: revenue $4.8 billion, down 12.0% on the year
CVR Energy Inc. (CVI) reported revenue of $4.8 billion for fiscal 2016, the year ended 31 December 2016, down 12.0% on the year before. Net income was $25 million, down 85.3%, and diluted earnings per share $0.28. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2019.
Revenue
$4.8 billion
-12.0% on the year
FY2009FY2016
Operating margin
1.5%
7.8% a year earlier
FY2009FY2016
Net income
$25 million
-85.3% on the year
FY2009FY2016
Diluted EPS
$0.28
-85.6% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
4,782
5,432
9,110
-12.0%
Cost of revenue
4,590
4,932
8,729
-6.9%
Gross profit
192
501
380
-61.7%
Gross margin
4.0%
9.2%
4.2%
Selling, general and administrative
110
99.0
110
+11.1%
Operating income
72.0
422
264
-82.9%
Operating margin
1.5%
7.8%
2.9%
Interest expense
83.9
48.4
40.0
+73.3%
Pre-tax income
-9.0
382
407
Income tax
-19.0
84.5
97.7
Effective tax rate
n/a
22.1%
24.0%
Net income
25.0
170
174
-85.3%
Net margin
0.5%
3.1%
1.9%
Diluted EPS
$0.28
$1.95
$2.00
-85.6%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
337
537
640
-37.2%
Capital expenditure
133
219
218
-39.2%
Free cash flow
204
318
422
-35.9%
Free cash flow margin
4.3%
5.9%
4.6%
Cash from investing
-271
n/a
n/a
Cash from financing
-95.0
n/a
n/a
Depreciation and amortisation
229
164
154
+39.5%
Share-based compensation
9.0
12.8
12.3
-29.7%
Dividends paid
174
174
434
+0.2%
Dividend per share
$2.00
$2.00
$5.00
0.0%
Diluted shares, weighted
0
87m
87m
Shares outstanding at period end
87m
87m
87m
0.0%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
858
984
988
-12.8%
Non-controlling interest
852
616
687
+38.1%
Debt
1,163
667
674
+74.3%
Other liabilities
1,287
1,038
1,106
+23.9%
Total liabilities and equity
4,159
3,306
3,454
+25.8%
Fixed assets
2,672
1,967
1,916
+35.8%
Goodwill
41.0
41.0
41.0
0.0%
Intangible assets
0.2
0.2
0.2
0.0%
Cash and equivalents
736
765
754
-3.8%
Receivables
152
95.8
137
+58.6%
Inventory
349
290
330
+20.5%
Other assets
209
147
277
+42.3%
Total assets
4,159
3,306
3,454
+25.8%
10-K for the year ended 31 December 2016, filed 21 February 2019: the filing.