Why Shares of CVR Partners Are Rising This Week

With temperatures rising during this first week of May, investors are also warming up to shares of CVR Partners (NYSE: UAN). Besides CVR Partners reporting strong first-quarter 2023 earnings, the producer of nitrogen fertilizer products continued with its impressive rewarding of shareholders, announcing a robust distribution payment to be made later in the month.

As of 2:32 p.m. ET, shares of CVR Partners are up 13.3% since the end of last Friday's session, according to data provided by S&P Global Market Intelligence.

For Q1 2023, CVR Partners booked revenue of $226.3 million, a year-over-year increase of 1.5% thanks to record production of its ammonia and urea ammonium nitrate (UAN) solution fertilizer products. Growth was also found toward the bottom of the income statement where CVR Partners reported earnings per share (EPS) of $9.64, representing a 9.8% increase over the $8.78 EPS that it reported during the same period in 2022.

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Source Fool.com