- 02 Mar
Susser Holdings Retail Fuel Margins: $.15 in Q4 and $.18 for the 2010 Fiscal Year
Susser Holdings Corporation reported their retail fuel margin results for Q4 2010 and for the entire 2010 fiscal year.
Retail fuel margins for the fourth quarter were 15.0 cents per gallon, versus 22.8 cents in the third quarter and 11.9 cents in the fourth quarter of 2009. The report states that their retail fuel margins helped contribute to their 9.4 percent increase in companywide gross profit compared to last year’s fourth quarter. The Q4 gross profit for 2010 hit $112 million. Retail fuel volumes increased 4.8 percent from a year ago to 182.4 million gallons for the fourth quarter. That equates to 141,067 gallons per store per month on average. According to NACS, the average c-store sells 121,000 gallons of fuel per month annually. That means Susser stores sold about 16% more than the national monthly average.
Retail fuel margins for the entire 2010 fiscal year hit $.184 per gallon.
Sam Susser, President and CEO said “As the recovery gains momentum in 2011, we expect to see additional growth in both merchandise and fuel volumes, although we do not expect to match the unusually strong fuel margins of 2010.”
The Company added seven large format retail stores during the fourth quarter, converted three retail stores to dealer operations and closed three smaller underperforming stores, bringing the total number of retail stores in operation at year-end to 526.
For the 2011 fiscal year guidance figure, the report shows a range of $.14 – $.17 per gallon.