CVR Energy (CVI) FY2017 results: revenue $6.0 billion, up 25.2% on the year
CVR Energy Inc. (CVI) reported revenue of $6.0 billion for fiscal 2017, the year ended 31 December 2017, up 25.2% on the year before. Net income was $263 million, up 952.0%, and diluted earnings per share $2.70. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2019.
Revenue
$6.0 billion
+25.2% on the year
FY2010FY2017
Operating margin
2.4%
1.5% a year earlier
FY2010FY2017
Net income
$263 million
+952.0% on the year
FY2010FY2017
Diluted EPS
$2.70
+864.3% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
5,988
4,782
5,432
+25.2%
Cost of revenue
5,716
4,590
4,932
+24.5%
Gross profit
272
192
501
+41.7%
Gross margin
4.5%
4.0%
9.2%
Selling, general and administrative
113
110
99.0
+2.7%
Operating income
145
72.0
422
+101.4%
Operating margin
2.4%
1.5%
7.8%
Interest expense
110
83.9
48.4
+31.2%
Pre-tax income
38.0
-9.0
382
Income tax
-220
-19.0
84.5
Effective tax rate
-578.9%
n/a
22.1%
Net income
263
25.0
170
+952.0%
Net margin
4.4%
0.5%
3.1%
Diluted EPS
$2.70
$0.28
$1.95
+864.3%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
248
337
537
-26.4%
Capital expenditure
120
133
219
-9.8%
Free cash flow
128
204
318
-37.3%
Free cash flow margin
2.1%
4.3%
5.9%
Cash from investing
-276
-271
n/a
Cash from financing
-226
-95.0
n/a
Depreciation and amortisation
258
229
164
+12.7%
Share-based compensation
19.0
9.0
12.8
+111.1%
Dividends paid
174
174
174
-0.2%
Dividend per share
$2.00
$2.00
$2.00
0.0%
Diluted shares, weighted
0
0
87m
Shares outstanding at period end
87m
87m
87m
0.0%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
988
858
984
+15.1%
Non-controlling interest
835
852
616
-1.9%
Debt
1,164
1,163
667
+0.1%
Other liabilities
966
1,287
1,038
-24.9%
Total liabilities and equity
3,953
4,159
3,306
-5.0%
Fixed assets
2,572
2,672
1,967
-3.8%
Goodwill
41.0
41.0
41.0
0.0%
Intangible assets
0.2
0.2
0.2
0.0%
Cash and equivalents
482
736
765
-34.5%
Receivables
179
152
95.8
+17.6%
Inventory
369
349
290
+5.7%
Other assets
310
209
147
+48.7%
Total assets
3,953
4,159
3,306
-5.0%
10-K for the year ended 31 December 2017, filed 21 February 2019: the filing.