Alon USA Energy (ALJ) Misses Q3 EPS by 3c
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Alon USA Energy (NYSE: ) reported Q3 EPS of ($0.12), $0.03 worse than the analyst estimate of ($0.09).
Paul Eisman, President and CEO commented, "Our third quarter results reflect a continuation of the difficult refining environment experienced in the first two quarters of 2016. The average Gulf Coast 3-2-1 benchmark crack spread for the third quarter of 2016 was approximately $6.50 per barrel lower than the average for the same period last year. Additionally, high RINs costs continue to weigh on our profitability. We continue to focus on operational excellence and controlling expenditures across the organization in this environment. We were pleased with the contributions in the third quarter from our asphalt marketing business and our renewable fuels project in California.
For earnings history and earnings-related data on Alon USA Energy (ALJ) click here.
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