'Tis the Season to Be Holly (at Motley Fool) and Arabian American Development Announces Third Quarter 2008 Financial Results (PR Newswire)

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City of Industry, CA --(www.USEquityNews.com)-- 11/10/2008 - Oil & Gas Refining & Marketing industry alert provided by U.S. Equity News. Fools, the panic of 2008 has created opportunities for long-term-focused investors. Check out our coverage of the latest market events and learn what to do now.  Read The Latest >> If you're like me, you marvel each year at how the holiday season decorations come out even before the kids have finished eating their Halloween candy. Watching this company's third-quarter earnings at the same moment could have some Fools wanting to deck their halls with boughs of Holly. Though weighing in at less than one-tenth the market capitalization of refining giant Valero (NYSE: VLO), Holly (NYSE: HOC) entered the earnings ring this week packing a one-two punch of improved gross refining margins and a pristine balance sheet. One year ago, Holly shares sold at more than three times today's levels near $20. [Read the full article]


DALLAS, Nov. 6 /PRNewswire-FirstCall/ -- Arabian American Development Co.
(Nasdaq: ARSD) today announced financial results for the third quarter and
nine months ended September 30, 2008. Including the non-cash unrealized write
downs of $17.7 million primarily related to mark-to-market adjustments on a
portion of the future periods' feedstock hedge portfolio required by Statement
of Financial Accounting Standard (SFAS) 133, the Company reported a third
quarter 2008 net loss of $6.9 million, or $.30 loss per diluted share. This
compares to net income of $382,600 or $.02 per diluted share for third quarter
2007. [Read the full article]

BRENTWOOD, Tenn. (AP) -- Delek US Holdings Inc., which refines and markets petroleum products and operates retail fuel and convenience stores, on Thursday said its third-quarter profit rose 24 percent, driven largely by improved profits in its retail and refining segments.

For the three months ended Sept. 30, Delek posted net income of $25.4 million, or 47 cents per share, compared with profit of $20.4 million, or 38 cents per share, in the same quarter last year.Analysts polled by Thomson Reuters, on average, expected profit of 38 cents per share.Included in the results was a $4 million pre-tax gain on the sale of real estate and an $8.7 million mark-to-market pre-tax gain associated with ethanol swap agreements.Analysts estimated the real estate sale added 5 cents per share to the quarter's results, while the ethanol swaps added 10 cents per share. Stripping out those items, that would put its adjusted quarterly profit at 32 cents per share, which was below the Wall Street estimate. [Read the full article]

HOUSTON (AP) -- Frontier Oil Corp. said Thursday its third-quarter profit dropped 47 percent as higher oil prices severely eroded demand for crude-based products.For the period ended Sept. 30, the refiner posted net income of $72.3 million, or 70 cents per share, compared with $137.2 million, or $1.28 per share, in the year-ago period.

Revenue rose about 58 percent to $2.2 billion from $1.39 billion.Analysts polled by Thomson Reuters expected, on average, earnings of 73 cents per share. Analysts typically exclude one-time charges.Frontier said its crack spread -- the difference between what refiners pay for crude and what they get for the gasoline they make -- averaged about $9.52 per barrel during the period. [Read the full article]

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