CVR Energy, Maxxam report earnings

CVR Energy Inc. and Maxxam Inc. posted first-quarter results Thursday.

Sugar Land-based fuels refiner CVR Energy reported first quarter 2008 net income of $22.2 million, or 26 cents per share, on sales of $1.2 billion. That compared with a net loss of $154.4 million, or $1.79 per share, on sales of $390.5 million, for the same quarter last year.

Analysts polled by Thomson Financial expected CVR (NYSE: CVI) to have net earnings per share of 29 cents.

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Maxxam (AMEX: MXM) posted a net loss of $13.9 million, or $2.58 per share, on sales of $21.7 million, for the first quarter of 2008. That compared with a net loss of $12.3 million, or $2.33 per share, on sales of $28.7 million, for the same period a year ago.

The Houston company holds interests in racing, real estate and forest products.