On March 19, Susser
- Sales dropped primarily because of a drop in fuel prices.
- Although Susser recently signed a new supply deal with Valero
(NYSE:VLO) -- which the company believes was favorable -- the drop in fuel prices dragged down gross profits $8.5 million for the quarter, which offset a $3.5 million increase in non-fuel gross profits. - The company was able to pay off $50 million in long-term debt due to cash proceeds from its initial public offering last October. The cost of this debt was very high, so the debt reduction will be very favorable to Susser's 2007 results.
(Figures in thousands, except per-share data)
Income Statement Highlights
|
Q4 2006 |
Q4 2005 |
Change |
|
|---|---|---|---|
|
Sales |
$487,963 |
$509,085 |
(4.1%) |
|
Net Profit |
($10,919) |
($31,149) |
N/A |
|
EPS |
($0.72) |
Pre-IPO |
N/A |
|
Diluted Shares |
15,267 |
Pre-IPO |
N/A |
Get back to basics with the income statement.
Margin Checkup
|
Q4 2006 |
Q4 2005 |
Change* |
|
|---|---|---|---|
|
Gross Margin |
9.9% |
10.4% |
(0.5) |
|
Operating Margin |
(0.5%) |
(2.7%) |
2.2 |
|
Net Margin |
(2.2%) |
(6.1%) |
3.9 |
Margins are the earnings engine.
Balance Sheet Highlights
|
Assets |
Q4 2006 |
Q4 2005 |
Change |
|---|---|---|---|
|
Cash + ST Invest. |
$32,938 |
$4,116 |
700.2% |
|
Accounts Rec. |
$44,084 |
$44,173 |
(0.2%) |
|
Inventory |
$37,296 |
$37,278 |
0.0% |
|
Liabilities |
Q4 2006 |
Q4 2005 |
Change |
|---|---|---|---|
|
Accounts Payable |
$71,680 |
$56,632 |
26.6% |
|
Long-Term Debt |
$120,000 |
$170,000 |
(29.4%) |
The balance sheet reflects the company's health.
Cash Flow Highlights
The company did not include a cash flow statement in its earnings release. Check back when the 10-K comes out.
Free cash flow is a Fool's best friend.
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Fool contributor Emil Lee is an analyst and a disciple of value investing. He doesn't own shares in any of the companies mentioned above. Emil appreciates your comments, concerns, and complaints. The Motley Fool has a disclosure policy.
