Alon USA Energy Turns To Profit In Q3, But Results Miss View

(RTTNews) - Alon USA Energy, Inc. (ALJ) reported third-quarter net income available to stockholders of $38.48 million or $0.55 per share, compared to net loss of $28.71 million or $0.47 per share in the same period last year.

Adjusted earnings for the quarter were $40.60 million or $0.59 per share, compared to adjusted loss of $28.89 million or $0.47 per share in the year-ago period. On average, nine analysts polled by Thomson Reuters expected the company to earn $0.60 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter declined to $1.85 billion from $1.89 billion in the prior-year quarter. Analysts estimated revenues of $2.12 billion for the quarter.

Alon said its board of directors has declared the regular quarterly cash dividend of $0.10 per share and a special non-recurring dividend of $0.21 per share. Both dividends are payable on December 18, 2014 to stockholders of record at the close of business on December 2, 2014.