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

November 06, 2012 | About:
10qk

10qk

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Alon USA Energy Inc. (ALJ) filed Quarterly Report for the period ended 2012-09-30.

Alon Usa Energy Inc has a market cap of $762.2 million; its shares were traded at around $13.84 with a P/E ratio of 26.4 and P/S ratio of 0.1. The dividend yield of Alon Usa Energy Inc stocks is 1.2%.

Highlight of Business Operations:

Includes excise taxes on sales of $17,159 and $15,476 for the three months ended September 30, 2012 and 2011, respectively, and $49,481 and $44,887 for the nine months ended September 30, 2012 and 2011, respectively. Net sales also includes net royalty and related net credit card fees of $1,427 and $1,265 for the three months ended September 30, 2012 and 2011, respectively, and $4,346 and $4,177 for the nine months ended September 30, 2012 and 2011, respectively.

Asphalt Segment. Net sales for our asphalt segment were $204.0 million for the three months ended September 30, 2012, compared to $201.1 million for the three months ended September 30, 2011, an increase of $2.9 million or 1.4%. This increase was due primarily to higher asphalt sales prices, partially offset by a decrease in asphalt sales volumes for the three months ended September 30, 2012. The average blended asphalt sales price increased 21.8% from $540.07 per ton for the three months ended September 30, 2011 to $657.68 per ton for the three months ended September 30, 2012, and the average non-blended asphalt sales price increased 2.3% from $383.87 per ton for the three months ended September 30, 2011, to $392.76 per ton for the three months ended September 30, 2012. The asphalt sales volume decreased 16.8% from 381 thousand tons for the three months ended September 30, 2011 to 317 thousand tons for the three months ended September 30, 2012.

Refining and Unbranded Marketing Segment. Cost of sales for our refining and unbranded marketing segment were $1,917.9 million for the three months ended September 30, 2012, compared to $1,681.2 million for the three months ended September 30, 2011, an increase of $236.7 million. This increase was primarily due to increased refinery throughput and increases in the cost of WTI crude oil, partially offset by decreases in the cost of other crude oils used by our refineries. The average price of WTI increased 2.6% from $89.75 per barrel for the three months ended September 30, 2011, to $92.09 per barrel for the three months ended September 30, 2012. The average price of Buena Vista crude decreased 1.0% from $107.27 per barrel for the three months ended September 30, 2011, to $106.23 per barrel for the three months ended September 30, 2012. The average price of LLS crude decreased 9.2% from $112.94 per barrel for the three months ended September 30, 2011, to $102.54 per barrel for the three months ended September 30, 2012.

Asphalt Segment. Net sales for our asphalt segment were $449.4 million for the nine months ended September 30, 2012, compared to $435.1 million for the nine months ended September 30, 2011, an increase of $14.3 million or 3.3%. This increase was due primarily to increases in asphalt sales prices, partially offset by lower asphalt sales volumes. The average blended asphalt sales price increased 15.5% from $539.52 per ton for the nine months ended September 30, 2011, to $623.24 per ton for the nine months ended September 30, 2012 and the average non-blended asphalt sales price increased 12.9% from $337.82 per ton for the nine months ended September 30, 2011, to $381.49 per ton for the nine months ended September 30, 2012. The asphalt sales volume decreased 12.1% from 854 thousand tons for the nine months ended September 30, 2011, to 751 thousand tons for the nine months ended September 30, 2012.

Refining and Unbranded Marketing Segment. Cost of sales for our refining and unbranded marketing segment were $5,005.2 million for the nine months ended September 30, 2012, compared to $4,336.7 million for the nine months ended September 30, 2011, an increase of $668.5 million, or 15.4%. This increase was primarily due to increased refinery throughput, partially offset by slight increases in the price of crude oil. The average price of WTI increased 0.8% from $95.42 per barrel for the nine months ended September 30, 2011, to $96.17 per barrel for the nine months ended September 30, 2012. The average price of Buena Vista crude increased 3.3% from $106.62 per barrel for the nine months ended September 30, 2011, to $110.14 per barrel for the nine months ended September 30, 2012. The average price of LLS crude increased 1.2% from $110.50 per barrel for the nine months ended September 30, 2011, to $111.81 per barrel for the nine months ended September 30, 2012.

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