Transformative Acquisition in Rail Segment
Closed on the acquisition of the Wheeling & Lake Erie Railway, setting the stage for significant growth in the Rail segment.
Strong Financial Performance
Reported adjusted EBITDA of $70.9 million, up 55% from the previous quarter and nearly double year-over-year.
Gas Production Milestone
Commenced gas production in West Virginia, producing over 100,000 MMBtu per day, exceeding power plant consumption.
Long Ridge Segment Success
Reported EBITDA of $35.7 million, with an expected achievement of a $160 million annual EBITDA run rate in Q4.
Rail Segment Revenue Growth
Rail segment adjusted EBITDA was $29.1 million, with Wheeling contributing $8.4 million in just 5 weeks.
Repauno's Phase 3 Permit
Received a permit for the construction of the Phase 3 cavern system, signaling significant future growth potential.