Losing Stock Alert - (NYSE:WNR) Reports 3Q Loss

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Western Refining, Inc. (NYSE:WNR) said Monday it lost $4.8 million, or 5 cents a share in its third quarter, compared to net income of $109.2 million, or $1.60 a share in the year-ago period. The El Paso, Texas company's revenue fell to $1.9 billion from $3.2 billion. Wall Street analysts expected earnings of a penny a share, according to a survey by FactSet Research. Western Refining said it faced lower refined product margins driven by weakness in finished product prices relative to crude and feedstock costs. Western said it will take pre-tax charges against earnings in the fourth quarter of approximately $55 mililon to $65 million, the majority of which will be non-cash, to shut down operations at its Bloomfield refinery. The refinery's products terminal will continue to operate. The moves will save about $25 million a year

Shares of Western Refining, Inc. (NYSE:WNR) are trading up 1.50% at $5.50.

Western Refining, Inc. (Western Refining) is an independent crude oil refiner and marketer of refined products, and also operates service stations and convenience stores.