Poor operating margins resulting from a narrow WTI-Brent price differential and low WTI crack spread caused refiner Alon USA Energy to report a net loss for Q3, substantially missing analyst estimates. The company's share price was further hurt in mid-October by the news that the company's planned restart of its California refineries has been delayed by at least another year to early 2015. High forward P/E ratios for 2013 and 2014 could limit the potential upside of the company's shares in the event that its earnings benefit more than expected from improved refining margins in coming quarters.
Refiner Alon USA Energy (NYSE:ALJ) reported disappointing earnings numbers for Q3, missing on revenue and badly missing on EPS....
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