Western Refining Logistics, LP (WNR) has reported a 14.98 percent fall in profit for the quarter ended Sep. 30, 2016. The company has earned $14.02 million, or $0.23 a share in the quarter, compared with $16.49 million, or $0.35 a share for the same period last year.

Revenue during the quarter dropped 16.37 percent to $569.26 million from $680.67 million in the previous year period. Gross margin for the quarter expanded 133 basis points over the previous year period to 12.95 percent. Total expenses were 97.67 percent of quarterly revenues, up from 97.29 percent for the same period last year. That has resulted in a contraction of 38 basis points in operating margin to 2.33 percent.

Operating income for the quarter was $13.27 million, compared with $18.42 million in the previous year period.

"During the quarter, we acquired St. Paul Park refinery storage and terminalling assets, which expands our geographical diversity," said Jeff Stevens, president and chief executive officer of WNRL's general partner. "We successfully completed an equity offering to fund the acquisition and expanded our revolver to $500 million to position us for further growth. We believe we have sufficient liquidity to fund our business plan for the foreseeable future."

The company has spent $23.61 million cash to meet investing activities during the nine month period as against cash outgo of $53.26 million in the last year period.

The company has spent $85.16 million cash to carry out financing activities during the nine month period as against cash inflow of $16.92 million in the last year period.