Alon USA Energy Q2 Profit Plunges - Quick Facts

(RTTNews) - Alon USA Energy, Inc. (ALJ) reported that its second quarter net income available to stockholders plunged to $11.5 million, or $0.17 per share from $43.1 million, or $0.77 per share last year.

Excluding special items, Alon recorded net income available to stockholders was $17.2 million, or $0.27 per share, compared to n $35.2 million, or $0.63 per share last year.

On average, 10 analysts polled by Thomson Reuters expected the company to earn $0.26 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues dropped to $1.68 billion from $1.91 billion last year. Analysts expected revenues of $1.57 billion.

Alon also announced today that its Board of Directors has approved the regular quarterly cash dividend of $0.06 per share. The dividend is payable on September 19, 2013 to stockholders of record at the close of business on September 5, 2013

The combined refinery throughput for the quarter averaged 130,928 barrels per day or bpd, consisting of 72,124 bpd at the Big Spring refinery and 58,804 bpd at the Krotz Springs refinery, compared to 160,071 bpd last year, consisting of 64,558 bpd at the Big Spring refinery, 31,206 bpd at the California refineries and 64,307 bpd at the Krotz Springs refinery.

Refinery operating margin at the Big Spring refinery was $16.21 per barrel for the second quarter of 2013 compared to $25.79 per barrel for the same period in 2012

Retail fuel sales volume increased by 14.5% to 47.5 million gallons from 41.5 million gallons in the previous year quarter.

For the third quarter of 2013, the company expects the throughput at both the Big Spring and Krotz Springs refineries to average approximately 69,000 barrels per day. At Krotz Springs, the company plans to process 30,000 barrels per day of WTI during the third quarter.