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May 22, 2015 11:54 PM ET

Oil, Gas and Consumable Fuels

Company Overview of Northern Tier Energy LP

Company Overview

Northern Tier Energy LP, an independent downstream energy company, engages in refining, retail, and pipeline operations in the United States. It operates through two segments, Refining and Retail. The Refining segment offers refined products, including gasoline, diesel, jet fuel, and asphalt to resellers and consumers primarily in the Petroleum Administration for Defense District II region. This segment also owns various storage and transportation assets, such as light products terminal, heavy products terminal, storage tanks, rail loading/unloading facilities, the Aranco and Cottage Grove pipelines, and Mississippi river dock, as well as owns and operates the Minnesota Pipeline, a 455,000 b...

1250 West Washington Street

Suite 300

Tempe, AZ 85281

United States

Founded in 2010

2,950 Employees

Phone:

602-302-5450

Key Executives for Northern Tier Energy LP

Chief Executive Officer of Northern Tier Energy GP LLC, President of Northern Tier Energy GP LLC and Director of Northern Tier Energy GP LLC
Age: 56
Total Annual Compensation: $1.7M
Executive Vice President of Northern Tier Energy GP LLC, General Counsel of Northern Tier Energy GP LLC and Secretary of Northern Tier Energy GP LLC
Age: 38
Total Annual Compensation: $529.2K
Chief Commercial Officer of Northern Tier Energy GP LLC and Senior Vice President of Northern Tier Energy GP LLC
Age: 52
Total Annual Compensation: $505.2K
Compensation as of Fiscal Year 2014.

Northern Tier Energy LP Key Developments

Northern Tier Energy LP - Shareholder/Analyst Call

Northern Tier Energy LP - Shareholder/Analyst Call

Northern Tier Energy LP Reports Unaudited Consolidated Earnings and Operating Results for the First Quarter Ended March 31, 2015; Provides Production Guidance for the Second Quarter of 2015 and Capital Expenditures Guidance for the Second Quarter and Full Year of 2015

Northern Tier Energy LP reported unaudited consolidated earnings and operating results for the first quarter ended March 31, 2015. For the quarter, the company's revenue was $793.8 million against $1,346.3 million a year ago. Operating income was $119.5 million against $77.8 million a year ago. Income before income taxes was $112.0 million against $71.6 million a year ago. Net income was $111.2 million or $1.20 per basic and diluted share compared with $71.5 million or $0.77 per basic and diluted share a year ago. Net cash provided by operating activities was $82.9 million against $91.5 million a year ago. EBITDA subtotal was $130.3 million against $87.7 million a year ago. Operating income, adjusted for special items was $108.7 million against $87.2 million a year ago. Adjusted EBITDA was $123.2 million against $102.6 million a year ago. Adjusted net income was $100.4 million for the first quarter 2015, compared to $80.9 million in the prior year quarter. Capital spending for first quarter 2015 was approximately $6.6 million compared to first quarter 2014 spending of approximately $10 million. The increase in adjusted net income was driven primarily by the increase in throughput, as well as gross margins for throughput barrel. Total throughput averaged approximately 94,000 barrels per day for the first quarter of 2015 with 25% being heavy Canadian crude compared to approximately 93,000 barrels per day for the first quarter of 2014 and 21% heavy Canadian crude. For the second quarter of 2015, the company projects total throughput of between 95,000 and 99,000 barrels per day at the Saint Paul Park refinery. Total capital expenditures for the second quarter of 2015 are expected to be approximately $19 million. Depreciation & amortization of $11 million to $12 million. Cash interest expense of $7 million to $8 million. Current tax expense of $1 million to $3 million. Total capital expenditures expected to be approximately $79 million for the full year 2015. The full year 2015 capital expenditure guidance includes $53 million for discretionary projects.

Northern Tier Energy LP Announces Dividend for the First Quarter of 2015, Payable on May 29, 2015

Northern Tier Energy LP declared a quarterly distribution of $1.08 per unit that will be paid in cash on May 29, 2015 to common unit holders of record as of the close of business on May 18, 2015.

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