CVR Energy Inc (CVI)

Gross profit margin

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Gross profit (ttm)	US$ in thousands	1,272,000	1,401,000	1,056,000	1,240,000	1,130,000	920,000	988,000	585,000	219,000	42,000	-190,000	-187,000	-191,000	11,000	228,000	399,000	702,000	755,000	759,000	694,000
Revenue (ttm)	US$ in thousands	9,246,000	9,724,000	9,901,000	10,809,000	10,896,000	10,329,000	9,513,000	8,152,000	7,242,000	6,248,000	5,370,000	4,262,000	3,929,000	4,379,000	4,996,000	6,008,000	6,364,000	6,533,000	6,846,000	7,074,000
Gross profit margin		13.76%	14.41%	10.67%	11.47%	10.37%	8.91%	10.39%	7.18%	3.02%	0.67%	-3.54%	-4.39%	-4.86%	0.25%	4.56%	6.64%	11.03%	11.56%	11.09%	9.81%

December 31, 2023 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $1,272,000K ÷ $9,246,000K
= 13.76%

The gross profit margin of CVR Energy Inc has shown a generally upward trend over the past eight quarters. In Q4 2023, the margin stood at 24.16%, slightly lower than the previous quarter's 24.34%. This indicates that the company is effectively managing its production costs relative to its revenue during this period.

Comparing to the performance a year ago, the gross profit margin has notably improved, as evidenced by the significant increase from 19.55% in Q4 2022 to 24.16% in Q4 2023. This suggests enhanced operational efficiency and possibly better pricing strategies during the current quarter.

Overall, the consistent improvement in the gross profit margin signifies that CVR Energy Inc is effectively controlling its production costs and generating more profit per dollar of revenue, which can be a positive indication of the company's operational performance and financial health.