Susser Petroleum Q3 Profit Soars - Quick Facts

(RTTNews) - Susser Petroleum Partners LP (SUSP), Wednesday posted a higher third-quarter net income, with slight increase in revenues. The company said that the third quarter results reflect the contribution of the Gainesville Fuel business to SUSP from SUSS on September 6. However, results missed the Street estimates.

For the three-month period, the company reported net income of $9.6 million or $0.43 per share, compared with $3.6 million or $0.03 per share last year. On average, nine analysts polled by Thomson Reuters expected the company to report earnings per share of $0.47 for the quarter. Analysts' estimates typically exclude one-time items.

Revenues for the period was $1.16 billion, compared with $1.11 billion last year. Analysts expected the company to generate revenues of $1.18 billion. The company said the higher revenues were due to an 8.8 percent increase in gallons sold, partially offset by a decline in the selling price per gallon.

Further, the company said that the Board of its general partner approved a quarterly distribution of $0.4687 per unit, payable on November 29, to shareholders of record on November 19.