New owner of Minnesota refinery reports record 3Q profits

Connecticut-based Northern Tier Energy, the new owner of the St. Paul Park refinery, reported quarterly operating income of $199.4 million, up $33.7 million from the quarter a year ago, according to a company news release. Northern Tier credits record productivity at the St. Paul Park refinery and favorable crude oil prices for the boost in profits.

Author:: BMTN Staff
Updated:: Mar 8, 2018
Original:: Nov 13, 2012

Connecticut-based Northern Tier Energy, the new owner of the St. Paul Park refinery, reported quarterly operating income of $199.4 million, up $33.7 million from the quarter a year ago, according to a company news release. Northern Tier credits record productivity at the St. Paul Park refinery and favorable crude oil prices for the boost in profits.

However, the Star Tribune reports income from the company's SuperAmerica stores in Minnesota and Wisconsin was down. Northern Tier has 166 company-operated and 67 franchised SuperAmerica stores.

Click here, to follow Northern Tier Energy's stock performance.

DONTCHA KNOW?

You Can Get BMTN Special Offers!

Get Our Newsletter

Rep Ilhan Omar

She says giving him a stern sentence will just fuel his anger and resentment.

snow, snowblower

The Twin Cities office of the NWS is trying to limit premature hype.

Screen Shot 2018-08-16 at 1.03.48 PM

Police grew suspicious after robberies reported this year bore similarities to incidents in 2015.

fire

The deceased were reportedly brothers.

herb bergson

He was convicted last year of leaving the scene of an accident.

Jayron Kearse

The safety has since addressed his tweet.

Ben Gedeon

If the Vikings don't win the division, it would do them well to get the 1st wild card.

Screen Shot 2019-11-19 at 10.52.29 AM

The evening news show featured kernza, the grain developed partly by the University of Minnesota.

airport security

The closure comes ahead of the busy holiday season.

Hyun-Jin Ryu

Twins Daily thinks up a way to construct the 2020 roster.

Screen Shot 2019-09-28 at 7.11.20 PM

Minnesota may have to turn to a true freshman at quarterback.

Screen Shot 2019-06-12 at 9.28.06 PM

Wanna own a piece of history?

Land O'Lakes Inc. posted net income of $18 million in the third-quarter, compared to a $30 million loss a year earlier, the Star Tribune reports. The Arden Hills-based co-op also reported a seven percent increase in sales.

Boosted by double-digit sales growth across all of its product lines, Polaris Industries Inc. posted a net income of $94.3 million, a 40 percent jump from $67.6 million in the third quarter a year-ago, the Associated Press reports. The Medina-based all-terrain vehicles maker also lifted its full-year outlook for the third time.

The owner of the St. Paul Park oil refinery and SuperAmerica stores in Minnesota and Wisconsin hopes to raise $341 million in its planned initial public offering. Connecticut-based Northern Tier Energy LP will offer 16.25 million common shares and hopes to fetch $19 to $21 per unit.

Inver Grove Heights-based CHS Inc. -- the largest farmer-owned cooperative in the United States -- reported net income of $405 million thanks to strong energy performance. Revenue increased nearly 5 percent to hit $11 billion. The Wall Street Journal notes CHS reported its second-quarter profit dropped 60 percent.

3M Co. posted a record third-quarter earnings of $1.65 per share, an increase of 8.6 percent increase from a year earlier, but cut its profit expectations for all of 2012 because of "current economic realities." The Maplewood-based company, which makes everything from office supplies to specialized coatings, expects to earn $6.27 to $6.35 per share for the year, down from $6.35 to $6.50, CNBC reports.