CVR Partners

Thank you for standing by. My name is Kate and I will be your conference operator today. At this time, I would like to welcome everyone to the 2Q2026 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 would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you would like to return your question, press star one again. Thank you. I would now like to turn the call over to Richard Roberts, Interior CFO, VP of FP&A, and IR. Please go ahead.

Thank you. Good morning, everyone. We appreciate your participation in today's call. With me today are Dane Neumann, our Chief Executive Officer, Mike Wright, our Chief Operating Officer, and other members of management. Prior to discussing our 2026 second quarter results, let me remind you that this conference call may contain forward-looking statements that 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 second quarter earnings release that we filed with the SEC for the period. Let me also remind you that we are a variable distribution NLP. We will review our previously established reserves, current cash usage, evaluate future anticipated cash needs, and may 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 in the prices received 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 Dane Neumann, our Chief Executive Officer.

Dane? Thank you, Richard. Good morning, everyone, and thank you for joining us for today's call. The summarized financial highlights for the second quarter of 2026 include net sales of $202 million net income of $78 million, EBITDA of $107 million, and the board of directors declared a second quarter distribution of $6.08 per common unit, which will be paid on August 17th to unit holders of record at the close of the market on August 10th. For the second quarter of 2026, our ammonia plant utilization was 99%, with both plants running well and experiencing minimal downtime during the quarter. The ongoing conflicts in the Middle East significantly tightened available global supplies of nitrogen fertilizers in the second quarter, which drove prices higher for the spring. We saw steady demand for product across our system, although toward the end of the planting season, we began seeing some customers shifting away from UAN due to the elevated prices relative to other nitrogen fertilizers. We completed summer fill programs for ammonia and UAN in late June and early July, respectively, and we have a good order book for the second half of 2026, which I will discuss further in my closing remarks. I will now turn the call over to Richard to discuss our financial results.