Strong Performance in Wholesale Segment
The Wholesale segment experienced strong performance driven by favorable market conditions in gasoline and the optimization of the liquid energy terminal network. Product margin increased $6.9 million to $78 million.
Expansion of Marine Fuel Supply Operations
Expanded marine fuel supply operations into the port of Houston, extending the bunkering business into the Gulf Coast.
Loyalty Platform and Retail Innovations
Introduced a new loyalty platform and redefined the convenience store experience through the Fresh and Honey Farms Market brands, aiming to enhance customer loyalty and engagement.
Quarterly Cash Distribution Increase
Declared a quarterly cash distribution of $75.50 per common unit, marking the 16th consecutive quarterly distribution increase.
Decrease in Operating Expenses
Operating expenses decreased by $4.6 million to $132.5 million, primarily due to lower maintenance and repair expenses.