Alon USA Profit Surges On Lower Costs

(RTTNews) - Alon USA Partners LP (ALDW), an operator of a crude refinery and marketer of petroleum products, on Wednesday reported fourth-quarter net earnings of $42.1 million or $0.67 per unit. This compares with a profit of $13.5 million or $0.22 per unit last year.

Revenues for the quarter were $800.2 million compared with $878.5 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.60 per share on revenues of $671.4 million for the quarter. Analysts' estimates typically exclude special items.

Operating expenses for the quarter decreased to $744.9 million from $854.5 million in the prior year, the company said. Refinery operating margin was higher at $15.12 per barrel compared with $9.96 per barrel a year ago.

"The Big Spring refinery ran well during the quarter, achieving record quarterly total throughput of 77,000 barrels per day and liquid recovery of approximately 101%. The fourth quarter throughput surpassed the previous record throughput set in the third quarter as we continue to benefit from investments made during the turnaround completed earlier in the year," said CEO Paul Eisman.