Alon USA Energy, Inc. (ALJ) swung to a net profit for the quarter ended Jun. 30, 2015. The company has made a net profit of $36.41 million, or $ 0.50 a share in the quarter, against a net loss of $7.52 million, or $0.11 a share in the last year period. On an adjusted basis, net profit for the quarter stood at $46.35 million, or $0.67 a share compared with a net loss of $3.42 million, or $0.05 a share in the last year period. Revenue during the quarter dropped 25.33 percent to $1,301.34 million from $1,742.88 million in the previous year period. Gross margin for the quarter contracted 95 basis points over the previous year period to 95.17 percent. Total expenses were 93.23 percent of quarterly revenues, down from 98.91 percent for the same period last year. This has led to an improvement of 568 basis points in operating margin to 6.77 percent.
Operating income for the quarter was $88.09 million, compared with $18.93 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $131.68 million compared with $53.29 million in the prior year period. At the same time, adjusted EBITDA margin improved 706 basis points in the quarter to 10.12 percent from 3.06 percent in the last year period.
Paul Eisman, president and chief executive officer, commented, "We are pleased with our strong results for the second quarter of 2015. The excellent performance from our refining and wholesale marketing segment was complemented by solid results from our retail segment. We were also pleased to see an improvement in our asphalt business for the quarter compared to the prior quarter and relative to the second quarter of 2014."
Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: [email protected]