CVR Partners

Ladies and gentlemen, thank you for standing by and welcome to the first quarter 2026 CVR Partners LP earnings conference call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you'd like to ask a question during that time, press star followed by the number one on your telephone keypad. If you'd like to withdraw your question, press star followed by the number one. As a reminder, today's call is being recorded. I will now hand today's call over to Richard Roberts, Vice President of FPA and Investor Relations. Please go ahead, sir.

Good morning, everyone. We appreciate your participation in today's call. With me today are Mark Pytosh, our Chief Executive Officer, Dane Newman, our Chief Financial Officer, Mike Wright, our Chief Operating Officer, and other members of management. Prior to discussing our 2026 first quarter results, let me remind you that this conference call may contain forward-looking statements, as that term is defined under federal securities laws. For this purpose, any statements made during this call that are not statements of historical facts may be deemed to be forward-looking statements. You are cautioned that these statements may be affected by important factors set forth in our filings with the Securities and Exchange Commission and in our latest earnings release. As a result, actual operations or results may differ materially from the results discussed in the forward-looking statements. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events, or otherwise, except to the extent required by law. This call also includes various non-GAAP financial measures. The disclosures related to such non-GAAP measures, including reconciliation to the most directly comparable GAAP financial measures, are included in our 2026 first quarter earnings release that we filed with the SEC for the period. Let me also remind you that we are a variable distribution MLP. We will review our previously established reserves, current cash usage, evaluate future anticipated cash needs, and make reserve amounts for other future cash needs as determined by our General Partners Board. As a result, our distributions, if any, will vary from quarter to quarter due to several factors, including but not limited to operating performance, fluctuations that prices receive for finished products, capital expenditures, and cash reserves deemed necessary or appropriate by the board of directors of our general partner. With that said, I'll turn the call over to Mark Pytosh, our Chief Executive Officer. Mark?

Thank you, Richard. Good morning, everyone, and thank you for joining us for today's call. The summarized financial highlights for the first quarter of 2026 include net sales of $180 million, net income of $50 million, EVA DA of $78 million, and the Board of Directors declared a first quarter distribution of $4 per common unit, which will be paid on May 18 to unit holders who are recorded at the close of the market on May 11. For the first quarter of 2026, our ammonia plant utilization was 103%. with both plants running well and experiencing minimal downtime during the quarter. We also saw an increase in ammonia sales volume relative to the prior year period, along with increased sales prices for UAN and ammonia. The tightness in the nitrogen fertilizer market that began in the second half of 2025 has only been amplified by the conflicts in the Middle East over the past two months and leading to higher prices for the spring, which I will discuss further in my closing remarks. I will now turn the call over to Dane to discuss our financial results.