Alon USA Energy Slips To Loss In Q2

(RTTNews) - Alon USA Energy, Inc. (ALJ) Thursday reported second-quarter net loss available to stockholders of $7.5 million or $0.11 per share, compared to net income of $11.5 million or $0.17 per share last year.

Adjusted net loss for the latest second quarter was $3.4 million or $0.05 per share, compared to net income of $17.2 million or $0.27 per share in the prior year period. On average, six analysts polled by Thomson Reuters expected the company to report a loss of $0.01 per share for the quarter. Analysts' estimates typically exclude special items.

Net Sales for the quarter rose to $1.74 billion from $1.68 billion lats year, while three analysts estimated revenues of $1.45 billion for the quarter.

Alon also announced that its Board of Directors has approved an increase in its regular quarterly cash dividend of $0.06 per share to $0.10 per share, payable on September 22, 2014 to stockholders of record at the close of business on September 8, 2014.