Increase in Retail Segment Gross Profit
Retail segment gross profit increased 16% to $63.2 million compared to $54.4 million in the first quarter of 2024, driven by an increase in both motor fuel and merchandise gross profit.
Improvement in Retail Fuel Margin
Retail fuel margin increased 10% year-over-year, with margins rising from $0.308 per gallon in Q1 2024 to $0.339 per gallon in Q1 2025.
Expansion of Retail Sites
Overall retail site count increased by 64 sites during the first quarter of 2025 compared to the same period in 2024, indicating strategic growth in retail operations.
Wholesale Segment Fuel Margin Increase
Wholesale motor fuel gross profit increased 8%, and wholesale fuel margin grew by 23%, from $0.079 per gallon in Q1 2024 to $0.097 per gallon in Q1 2025.
Reduction in Net Loss
Net loss reduced to $7.1 million for Q1 2025 from $17.5 million in Q1 2024.