RIDGEFIELD, Conn. -- Northern Tier Energy LLC, owner of the SuperAmerica convenience-store brand, saw retail operating income grow to $4.8 million in the three months ended June 30, 2012, compared to $4.7 million in the three months ended June 30, 2011. Fuel margins were a healthy 22 cents per gallon for both the three months ended June 30, 2012 and 2011, however, fuel gallons sold at company-operated retail stores declined by 5.8% from the prior year period.
Despite the reduction in fuel gallons sold, the retail segment experienced higher non-fuel revenues driven primarily by merchandise revenues at company-operated stores.
The company reported total operating income of $225.7 million for the second quarter of 2012, an increase of $145.0 million compared to the three months ended June 30, 2011. This increase in operating income is primarily due to improved results in the refining segment, which were driven by higher refined product margins per barrel and increased volumes compared to the prior year period. Adjusted EBITDA for the three months ended June 30, 2012, was $246.3 million, an increase of $144.8 million compared to the $101.5 million of adjusted EBITDA for the three months ended June 30, 2011.
For the three months ended June 30, 2012, the company reported net income of $246.6 million compared to a net loss of $42.1 million for the three months ended June 30, 2011. The improvement from the second quarter of 2011 of $288.7 million is primarily attributable to a $160.9 million increase in operating income in the refining segment in the quarter and an improvement of $144.4 million related to derivatives activities, partially offset by a $9.3 million unfavorable impact in contingent consideration income.
Ridgefield, Conn.-based Northern Tier Energy LLC is an independent downstream energy company with refining, retail and pipeline operations that serves the PADD II region of the United States. NTE operates a 74,000-barrel-per-day refinery in St. Paul Park, Minn. NTE also operates 166 convenience stores and supports 67 franchised convenience stores, primarily in Minnesota and Wisconsin, under the SuperAmerica brand and owns a bakery and commissary under the SuperMom's brand.