Western Refining, Inc. (WNR) swung to a net loss for the quarter ended Dec. 31, 2016. The company has made a net loss of $9.59 million, or $ 0.09 a share in the quarter, against a net profit of $13.54 million, or $0.14 a share in the last year period.

Revenue during the quarter went up marginally by 2.17 percent to $2,115.32 million from $2,070.32 million in the previous year period. Gross margin for the quarter expanded 103 basis points over the previous year period to 18.60 percent. Total expenses were 99.13 percent of quarterly revenues, up from 98.74 percent for the same period last year. That has resulted in a contraction of 39 basis points in operating margin to 0.87 percent.

Operating income for the quarter was $18.37 million, compared with $26.14 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $92.63 million compared with $203.61 million in the prior year period. At the same time, adjusted EBITDA margin contracted 546 basis points in the quarter to 4.38 percent from 9.83 percent in the last year period.

Jeff Stevens, Western's chief executive officer, said, "Western had a successful 2016 despite a volatile crude oil price environment and challenging fourth quarter. There was pressure on refining margins throughout 2016 which were considerably below the highs we saw in 2015 and crude oil price differentials also remained narrow."

The company has spent $226.34 million cash to meet investing activities during the year as against cash outgo of $191.85 million in the last year.

The company has spent $661.33 million cash to carry out financing activities during the year as against cash outgo of $309.89 million in the last year period.