Aegean Marine Petroleum Network Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2017
November 15, 2017 at 04:15 pm EST
Aegean Marine Petroleum Network Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2017. For the quarter, the company reported total revenue of $1,344.1 million for the third quarter of 2017, an increase of 18.0% compared to the same period in 2016, primarily due to the increase in oil prices. Operating income was $6.760 million against $22.525 million a year ago. Net loss attributable to the company shareholders was $3.775 million against net income of $10.551 million a year ago. Basic and diluted loss per share were $0.10 against basic and diluted earnings per share of $0.22 a year ago. EBTIDA was $15.160 million against $30.456 million a year ago. Adjusted EBTIDA was $15.133 million against $37.651 million a year ago. Net income as adjusted for non-cash items was $19.839 million against $31.200 million a year ago. Net cash used in operating activities was $14.8 million against net cash provided by operating activities of $34.699 million a year ago.
For the nine months, the company reported total revenues of $4,309.042 million against $2,880.044 million a year ago. Operating income was $36.859 million against $69.704 million a year ago. Net loss attributable to the company shareholders was $0.698 million against net income of $35.846 million a year ago. Basic and diluted loss per share were $0.02 against basic and diluted earnings per share $0.73 a year ago. EBTIDA was $61.304 million against $93.152 million a year ago. Adjusted EBTIDA was $61.210 million against $102.694 million a year ago. Net income as adjusted for non-cash items was $42.137 million against $119.216 million a year ago. Net cash used in operating activities was $63.155 million against $14.798 million a year ago.