This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Aegean Marine Petroleum Network's CEO Discusses Q2 2012 Results - Earnings Call Transcript

Stocks in this article: ANW

Important factors that could cause actual results to differ include our future operating or financial results, the ability to manage growth adverse conditions in the marine field supply industries, and increased levels of competition.

For further information, please refer to Aegean Marine Petroleum Network, Inc’s report and filings with the Securities and Exchange Commission.

As outlined on page four of the presentation, I will provide our recent highlights. I will then review our financial results and Peter will review our company’s strategy. After that, we will open the floor to questions.

I will not turn the call over to Peter.

Peter Georgiopoulos



Thank you, Nick. During the second quarter, management continued to steadily enhance Aegean’s operational and financial performance in the challenging market environment. The cumulus success we have achieved executing our strategy outlined a year and a half ago has enable Aegean to significantly strengthen its’ work class integrated marine field logistics chain and deliver strong and sustainable results for shareholders.

We continue to markedly increase operating efficiencies to the sale of non-core assets. And maintain a diverse customer base with strong credit quality while strengthening the company’s future prospects. Specifically, we recently announced expansion plans in Barcelona providing an attractive opportunity to further leverage Aegean’s high quality of logistics infrastructure and increase utilization. With an expansive and more efficient global full service platform combined with a strong financial foundation, we remain well positioned to strengthen Aegean’s leading brand as an independent supply of marine fuel on a worldwide basis and expand the company’s future earnings power.

I will now begin my discussion on slide six with a presentation. During the three months ended June 30, 2012, sales volumes increased slightly to 2,714,176 metric tons.

While Nick will provide more details regarding our financial results, I’d like to note that based on the ongoing implementation of our strategy and the enhancing profitability combined with higher sales volumes, gross profit in Q2 was $80 million, an increase of 15% to the year earlier period. For the three months ended June 30, 2012, we reported adjusted operating income of $19.5 million and EBITDA of $21 million on an adjusted basis, which excludes a net non-cash loss from the sale of non-core vessels EBITDA for the second quarter was $25.2 million representing an increase of 34% from the year earlier period when there were no vessel sales.

2 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs