Western Refining (
) shares are up nearly 4% at $36.40 but earlier touched $37.57 -
just shy of their 52-week high $37.64 - after the company posted
adjusted Q4 EPS of $1.45, beating Wall Street forecasts for EPS of
between $1.35 and $1.37. But revenues fell 1.2% to $2.25 billion,
missing the average estimate for $2.31 billion.
It said: "We have established ambitious goals for the company in
2013. We will continue to focus on safety and reliability. We also
plan to further enhance our cost-advantaged crude oil position,
grow our logistics assets, increase our financial flexibility, and
return cash to shareholders. The Gallup refinery is running at
expanded rates, our crude oil gathering system in the Permian Basin
is nearing completion, and we continue to maximize the use of
cost-advantaged crude oil available in our region. All of these
actions, coupled with the location of our assets, position Western
well for 2013."
Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.