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mixed results for united refining

By CSD Staff | November 28, 2007

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Net income jumps 33.9%, sales drop 1.3% in fiscal year 2007.

United Refining Co., which operates 371 Kwik Fill, Red Apple and Country Fair convenience stores in New York and Pennsylvania, posted strong net income in fiscal year 2007, but saw sales drop more than 1% over the past 12 months.

Net sales for the year ended August 31, 2007 and August 31, 2006 were $2,405.1 million and $2,437.1 million, respectively, which was a decrease of $32 million or 1.3% from the prior year. Decreases in net sales for the year ended August 31, 2007 were due primarily to a decrease in wholesale sales volume primarily as a result of scheduled refinery maintenance turnaround projects and resulting lower crude throughputs. This decrease in wholesale sales was partially offset by increased retail sales of $54.5 million.

Operating income for the year ended August 31, 2007 was $170.3 million, an increase of $38.2 million or 28.9% from the $132.1 million in operating income for the year ended August 31, 2006.

Net income for the year ended August 31, 2007 was $85.7 million, an increase of $21.7 million or 33.9% from net income of $64 million for the year ended August 31, 2006.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) for the fiscal year ended August 31, 2007 increased $41.4 million to $191.7 million from $150.3 million for the fiscal year ended August 31, 2006.

EBITDA before Last in First Out (LIFO) inventory adjustment for the fiscal year ended August 31, 2007 decreased $3.3 million to $181.8 million from $185.1 million for the fiscal year ended August 31, 2006.

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  • Home
  • Today on CSD
  • Categories
    • CBD
    • Foodservice
    • Fuel & Gas
    • Health & Beauty
    • Independent Operators
    • Operations & Marketing
    • Technology
  • CStore Playbooks
    • CBD Playbook
    • Foodservice Playbook
    • Technology Playbook
    • Alcoholic Beverage Playbook
    • Tobacco Playbook
  • Products
    • Hot New Products Contest
    • Beverages & Cold Vault
    • Candy, Gum & Mints
    • Snacks
    • Tobacco
  • Resources
    • Digital Issues
    • Research & Downloads
    • Podcasts/How To Series
    • On Location
    • FAQ
    • 2022 Top 111 Chains
    • Leaders in Convenience
    • Rack Prices
    • Sponsored Content
    • Videos
    • Webinars / Digital Events
    • White Papers
  • Events
    • 2021 Chain of the Year
    • Convenience Directions
    • NAG Convenience Conference
    • Young Executive Organization
  • Join
    • National Advisory Group
    • Safe Shop Assured
    • Young Executive Organization