DALLAS -- Alon USA Energy saw challenges in wholesale fuel during its fourth quarter of 2011, but still saw healthy volume increases both at the pump and in stores.
"Our retail and branded marketing segment's wholesale fuel sales performance was impacted by the differential in gasoline prices on the Gulf Coast as compared to the markets in which we operate,” said CEO and president Paul Eisman, “but still delivered a strong fourth quarter performance with adjusted EBITDA of $7 million and adjusted EBITDA for the 12 months ended Dec. 31, 2011, of $41 million.”
Retail fuel sales increased 10% and merchandise sales increased 6% over the same period in 2010.
"In the first quarter of 2012, we expect the average throughput at both our Big Spring and Krotz Springs refineries to each be approximately 70,000 barrels per day."
Retail fuel sales volume increased by 9.1% from 37.3 million gallons in the fourth quarter of 2010 to 40.7 million gallons in the fourth quarter of 2011. Branded fuel sales volume increased by 8.3% from 88.9 million gallons in the fourth quarter of 2010 to 96.3 million gallons in the fourth quarter of 2011. Adjusted EBITDA for the company’s retail and branded marketing segment was $7.2 million for the fourth quarter of 2011 compared to adjusted EBITDA of $8.5 million for the same period in 2010.
Retail fuel sales volume increased by 10.2% from 142.2 million gallons in 2010 to 156.7 million gallons in 2011. Branded fuel sales volume increased by 15.5% from 318.9 million gallons in 2010 to 368.4 million gallons in 2011. Adjusted EBITDA for our retail and branded marketing segment was $40.5 million for 2011 compared to $33.0 million for 2010.
All in all, Alon USA had a record year on an adjusted EBITDA basis, although net loss available to common stockholders for the fourth quarter of 2011 was $12.9 million, or a loss of 23 cents per share, compared to net loss available to common stockholders of $25.1 million, or 46 cents per share, for the same period last year.
“2011 was an excellent year for our company with adjusted EBITDA over $300 million,” Eisman said. “In addition to our financial results, we made great strides in 2011 with improvements to our facilities that will benefit us both in 2012 and the years to come.”
Alon USA Energy Inc., Dallas, is an independent refiner and marketer of petroleum products, operating primarily in the South Central, Southwestern and Western regions of the United States. The company owns four crude oil refineries in Texas, California, Louisiana and Oregon, with an aggregate crude oil throughput capacity of approximately 250,000 barrels per day. Alon is the largest 7-Eleven licensee in the United States and operates more than 300 convenience stores in Texas and New Mexico. Alon markets motor-fuel products under the FINA brand at these locations and at more than 600 distributor-serviced locations.