CVR Energy (CVI) reported late Monday its Q1 swung to an adjusted loss of $0.58 per diluted share from earnings of $0.04 a year earlier.

Analysts polled by FactSet expected a loss of $0.89.

Net sales for the quarter ended March 31 were $1.65 billion, down from $1.86 billion a year earlier.

Analysts surveyed by FactSet expected $1.31 billion.

The company said it will not pay a dividend for Q1. Meanwhile, CVR Partners, in which CVR Energy owns a 37% interest and serves as the general partner, declared a Q1 cash distribution of $2.26 per common unit, payable on May 19 to unitholders of record as of May 12.

Shares of CVR Energy were down 4.2% in after-hours trading.