Susser Holdings, Valero Energy Expect to Report Solid Q1 Earnings

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Susser Holdings, Valero Energy Expect to Report Solid Q1 Earnings


CORPUS CHRISTI and SAN ANTONIO, Texas -- Susser Holdings Corp. and Valero Energy Corp. issued positive 2012 interim fiscal first-quarter earnings updates when one-time charges are backed out in the latter's case.

Susser, operator of 540 convenience stores in Texas, New Mexico and Oklahoma under the Stripes banner, announced it expects to report robust same-store merchandise sales growth of 6.7 percent, vs. its 2011 fiscal first quarter. The c-store chain also expects retail average per-store fuel volumes to increase by about 5.8 percent compared to the same period last year.

As CSNews previously reported, Susser has aggressive store opening plans. The company opened one large-format c-store in its first quarter, as well as one additional c-store thus far in its fiscal second quarter. According to Susser, 12 new stores are currently under construction and it expects to open a total of 25 to 30 new stores in 2012.

Susser will officially announce its 2012 first-quarter earnings on May 9 at 11 a.m. Eastern Time.

Valero announced it expects to suffer a loss in the range of $41 million to $47 million in its 2012 fiscal first quarter. However, the company said the entire loss is attributable to an one-time asset impairment charge related to its Aruba refinery.

If not for the one-time charge, Valero stated it would have expected to earn between $13.8 million and $19.4 million for its fiscal first quarter.

Valero has approximately 6,800 retail and branded convenience store and gas station locations.

The company will officially report its first-quarter earnings on May 1 at 11 a.m. Eastern Time.