Susser Holdings Q4 Profit Declines, Revenue Up - Quick Facts

(RTTNews) - Susser Holdings Corp. (SUSS), a convenience stores operator, Wednesday said fourth-quarter net income attributable to the company declined to $5.93 million or $0.27 per share from $10.57 million or $0.49 per share in the fourth quarter of 2012.

On average, 11 analysts polled by Thomson Reuters expected earnings of $0.41 per share for the quarter. Analysts' estimates typically exclude special items.

Adjusted Earnings Before Interest, Tax, Depreciation and Amortization, or EBITDA, totaled $37.3 million, down 18.0 percent from last year.

Consolidated revenues grew 9.2 percent to $1.54 billion from $1.41 billion in the prior year. Wall Street expected revenues of $1.50 billion.

The company attributed the revenue increase to an 8.9 percent increase in merchandise sales, a 5.4 percent increase in retail fuel revenues and a 16.1 percent increase in wholesale fuel revenues from third parties. The positive revenue impact of higher fuel volumes sold was partially offset by lower per-gallon selling prices, particularly in the retail segment.

Same-store merchandise sales increased 2.4 percent, compared to growth of 5.8 percent in the same quarter of 2012.

Average retail gallons sold per store increased 7.8 percent compared with growth of 3.1 percent last year. Retail net merchandise margin increased to 34.4 percent from 34.1 percent in the prior-year period.