Susser Holdings Posts Mixed Results (SUSS)

Susser Holdings Corporation SUSS announced on Tuesday morning that it beat consensus Wall Street earnings estimates, while missing revenue expectations. Susser Holdings Corporation reported that its 3rd quarter net earnings rose to $9.0 million, or 52 cents per share, up from $6.5 million, or 38 cents per share, a year earlier. Revenue rose 9.6% to $966.42 million, up from $882.1 million a year earlier. According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 31 cents per share, on revenue of $978.32 million. President and Chief Executive Officer Sam L. Susser said “We continued to see steady year-over-year growth in both merchandise and fuel volumes in the third quarter, and stronger margins across our retail and wholesale divisions drove improvements in gross profit and Adjusted EBITDA.” Susser went on to say, “Strength in the energy sector continues to contribute to our same store sales growth. Retail fuel margins were above our five-year average for the third quarter, and increased sales of diesel fuel suggests that overall commercial activity in our market areas is continuing its recovery." Susser Holdings Corporation (SUSS) closed the previous trading day at $13.91 per share. Analysts covering the company's stock give it a consensus price target of $14.63 per share. Read more from Benzinga's Company news.