Alon USA Energy Inc. Reports Operating Results (10-Q)

Author's Avatar
Aug 09, 2012
Alon USA Energy Inc. (ALJ, Financial) filed Quarterly Report for the period ended 2012-06-30.

Alon Usa Energy, Inc. has a market cap of $631 million; its shares were traded at around $11.3 with a P/E ratio of 37.4 and P/S ratio of 0.1. The dividend yield of Alon Usa Energy, Inc. stocks is 1.4%.

Highlight of Business Operations:

Asphalt margins in the second quarter of 2012 were $67.31 per ton compared to $1.35 per ton in the second quarter of 2011. This increase was primarily due to higher asphalt sales prices and lower crude oil costs in addition to non-cash inventory items. The average blended asphalt sales price increased 9.1% from $557.83 per ton in the second quarter of 2011 to $608.81 per ton in the second quarter of 2012 and the average non-blended asphalt sales price increased 34.7% from $349.95 per ton in the second quarter of 2011 to $471.41 per ton in the second quarter of 2012. The average price of Buena Vista crude decreased 4.4% from $113.18 per barrel in the second quarter of 2011 to $108.25 per barrel in the second quarter of 2012.

Asphalt Segment. Net sales for our asphalt segment were $152.9 million for the three months ended June 30, 2012, compared to $147.8 million for the three months ended June 30, 2011, an increase of $5.1 million or 3.5%. This increase was due primarily to higher asphalt sales prices, slightly offset by a decrease in asphalt sales volumes for the three months ended June 30, 2012. The asphalt sales volume decreased 9.3% from 281 thousand tons for the three months ended June 30, 2011 to 255 thousand tons for the three months ended June 30, 2012. The average blended asphalt sales price increased 9.1% from $557.83 per ton for the three months ended June 30, 2011 to $608.81 per ton for the three months ended June 30, 2012, and the average non-blended asphalt sales price increased 34.7% from $349.95 per ton for the three months ended June 30, 2011, to $471.41 per ton for the three months ended June 30, 2012.

Refining and Unbranded Marketing Segment. Cost of sales for our refining and unbranded marketing segment were $1,584.0 million for the three months ended June 30, 2012, compared to $1,310.5 million for the three months ended June 30, 2011, an increase of $273.5 million. This increase was primarily due to increased refinery throughput and partially offset by decreases in the cost of crude oil used by our refineries. The average price of WTI decreased 8.8% from $102.43 per barrel for the three months ended June 30, 2011, to $93.45 per barrel for the three months ended June 30, 2012. The average price of Buena Vista crude decreased 4.4% from $113.18 per barrel for the three months ended June 30, 2011, to $108.25 per barrel for the three months ended June 30, 2012. The average price of LLS crude increased 0.4% from $120.03 per barrel for the three months ended June 30, 2011, to $120.46 per barrel for the three months ended June 30, 2012.

Asphalt Segment. Net sales for our asphalt segment were $245.5 million for the six months ended June 30, 2012, compared to $234.1 million for the six months ended June 30, 2011, an increase of $11.4 million or 4.9%. This increase was due primarily to higher asphalt sales prices. The average blended asphalt sales price increased 10.5% from $539.01 per ton for the six months ended June 30, 2011, to $595.62 per ton for the six months ended June 30, 2012 and the average non-blended asphalt sales price increased 16.9% from $323.58 per ton for the six months ended June 30, 2011, to $378.30 per ton for the six months ended June 30, 2012.

Refining and Unbranded Marketing Segment. Cost of sales for our refining and unbranded marketing segment were $3,087.4 million for the six months ended June 30, 2012, compared to $2,655.5 million for the six months ended June 30, 2011, an increase of $431.9 million, or 16.3%. This increase was primarily due to increased refinery throughput as well as increases in the cost of crude oil at our California and Krotz Springs refineries. The average price of WTI decreased 0.1% from $98.30 per barrel for the six months ended June 30, 2011, to $98.23 per barrel for the six months ended June 30, 2012. The average price of Buena Vista crude increased 5.5% from $106.28 per barrel for the six months ended June 30, 2011, to $112.12 per barrel for the six months ended June 30, 2012. The average price of LLS crude increased 3.2% from $112.88 per barrel for the six months ended June 30, 2011, to $116.49 per barrel for the six months ended June 30, 2012.

Read the The complete Report