June 8, 2018 - 7:20 AM EDT
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Free Post Earnings Research Report: Andeavor’s Revenues Surged 42%; EPS Soared 167%

Stock Monitor: Ferrellgas Partners Post Earnings Reporting

LONDON, UK / ACCESSWIRE / June 08, 2018 / If you want access to our free earnings report on Andeavor (NYSE: ANDV), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=ANDV. The Company reported its first quarter fiscal 2018 operating and financial results on May 07, 2018. The oil refiner surpassed earnings expectations. Register today and get access to over 1,000 Free Research Reports by joining our site below:


Active-Investors.com is currently working on the research report for Ferrellgas Partners, L.P. (NYSE: FGP), which also belongs to the Basic Materials sector as the Company Andeavor. Do not miss out and become a member today for free to access this upcoming report at:


Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Andeavor most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:


Earnings Highlights and Summary

For the three months ended March 31, 2018, Andeavor recorded revenues of $10.30 billion, up 55% compared to $6.64 billion in Q1 2017. The Company's revenue numbers lagged analysts' estimates of $10.87 billion.

During Q1 2018, Andeavor's reported earnings before interest, tax, depreciation, and amortization (EBITDA) surged 57% to $680 million compared to $432 million in Q1 2017.

Andeavor reported net earnings attributable to common shareholders of $164 million, or $1.07 per diluted share, in Q1 2018 compared to $50 million, or $0.42 per diluted share, in Q1 2017. The Company's results for the reported quarter included acquisition and integration costs of $19 million, primarily related to the Western Refining acquisition; and a net benefit of approximately $100 million, primarily related to a reduction in the RINs obligation. Andeavor's earnings smashed past Wall Street's estimates of $0.58 per share.

Segment Results

Marketing - During Q1 2018, Andeavor's Marketing segment's operating income was $128 million and its EBITDA were $152 million, compared to $133 million and $146 million, respectively, in Q1 2017. The segment's overall fuel margins were $0.091 per gallon, while its Retail and Branded fuel margins were $0.162 per gallon in the reported quarter, compared to $0.096 per gallon and $0.174 per gallon, respectively, in the year ago same period. The segment's marketing margins were lower as a result of the lag in street prices increasing relative to the rapidly rising spot market prices during the reported quarter.

For Q1 2018, Andeavor's merchandise margin increased to $50 million from $3 million in Q1 2017, primarily due to the Western Refining acquisition and the conversion of multi-site operators (MSO) to Company-owned sites. Andeavor continued to grow its network of retail and branded stations, which increased 31% to 3,300 on a y-o-y basis. This was primarily driven by the Western acquisition, the acquisition of retail stations completed in Northern California in July 2017, and the continued execution of the Company`s organic growth plan.

Logistics - Andeavor's Logistics segment's operating income increased to $188 million and its EBITDA increased to $271 million in Q1 2018, from $150 million and $212 million, respectively, in the year ago comparable period. The increases in the segment's operating income and segment EBITDA were primarily driven by contributions from the Western Refining Logistics acquisition, as well as an organic growth.

Refining - During Q1 2018, Andeavor's Refining segment's operating income was $205 million and its EBITDA were $387 million, compared to $34 million and $181 million, respectively, in Q1 2017.

Andeavor's Refining margin was $1.0 billion, or $10.85 per barrel, in Q1 2018 compared to $701 million, or $9.44 per barrel, in Q1 2017. Refining utilization was 90% in the reported quarter compared to 92% in the year earlier corresponding quarter, due to the Company`s planned turnarounds at the Los Angeles and Martinez refineries in Q1 2018.

Balance Sheet and Cash Flow

Andeavor ended Q1 2018 with $433 million in cash and cash equivalents, down from $543 million at the end of 2017. The Company had approximately $2.2 billion remaining under its revolving credit facility. The Company's total debt, net of unamortized issuance costs, was $8.7 billion at the end of Q1 2018.

Andeavor repurchased 2.6 million shares for approximately $256 million in Q1 2018, and paid cash dividends of $92 million.

Strategic Update

On April 30, 2018, Andeavor and Marathon Petroleum Corp. announced that they had entered into a definitive merger agreement, under which Marathon will acquire all of Andeavor's outstanding shares. This transaction is expected to create a premier US refining, marketing, and midstream company, building a platform that is well-positioned for long-term growth and shareholder value creation. The transaction is expected to close in H2 FY18, and is subject to customary closing conditions.

Stock Performance Snapshot

June 07, 2018 - At Thursday's closing bell, Andeavor's stock marginally rose 0.21%, ending the trading session at $144.80.

Volume traded for the day: 1.12 million shares.

Stock performance in the last month – up 5.27%; previous three-month period – up 44.08%; past twelve-month period – up 61.91%; and year-to-date – up 26.64%

After yesterday's close, Andeavor's market cap was at $21.11 billion.

Price to Earnings (P/E) ratio was at 31.38.

The stock has a dividend yield of 1.63%.

The stock is part of the Basic Materials sector, categorized under the Oil & Gas Refining & Marketing industry. This sector was up 0.5% at the end of the session.


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Source: ACCESSWIRE Investor Awareness (June 8, 2018 - 7:20 AM EDT)

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