Alon USA Completes Rebranding From FINA to ALON
According to Paul Eisman, Alon USA's president and CEO, customer feedback regarding the new ALON name has been overwhelmingly positive thus far.
"The reception we're receiving with the conversion has been excellent," he said during the company's fiscal second-quarter earnings call today.
The brand conversion to ALON has been rapid. As CSNews Online previously reported, only one conversion had taken place when Eisman spoke during Alon USA's March 9 first-quarter earnings call.
As for whether the Dallas-based company would consider spinning off its retail division, primarily consisting of 300 stores, company executives said it was "looking at different alternatives" when questioned by an analyst, but declined to discuss the topic any further.
During the second quarter, the retail division posted increases in both retail fuel sales and merchandise sales compared to the same quarter in 2011. Retail fuel sales came in at $41.5 million vs. $38.5 million in the same quarter last year. Merchandise sales increased to $82.5 million, compared to $78.4 million in 2011's second quarter.
"Fuel sales were up 8 percent [year over year] and merchandise sales improved by 5 percent," said Eisman "It was a good quarter [for our retail division]."
The CEO echoed that sentiment regarding the company's overall earnings. For the quarter ended June 30, Alon USA's net income more than tripled. The company earned $43.1 million for its latest quarter vs. $13.7 million during the same timeframe last year.
"We are pleased with our second-quarter results, which included a 20 percent net increase in sales for the quarter over last year, driven primarily by a 19-percent increase in total refinery output," said Eisman.