Strong Financial Performance
Net income for Q1 2025 was $18.7 million, a significant improvement from a net loss of $5.6 million in Q1 2024. EBITDA increased to $91.9 million from $56.9 million, and adjusted EBITDA increased to $91.1 million from $56 million.
Increased Cash Distribution
The Board increased the quarterly cash distribution on common units to $0.7450 per unit, equating to $2.98 on an annualized basis. The distribution will be paid on May 15th to unitholders as of May 9th.
Wholesale Segment Growth
First quarter 2025 product margin in the wholesale segment increased by $44.2 million to $93.6 million, driven by more favorable market conditions and strategic acquisitions of terminals.
Gasoline Distribution Success
Product margin from gasoline distribution increased by $4.2 million to $125.8 million, with fuel margins increasing $0.02 per gallon to $0.35 in Q1 2025 from $0.33 in Q1 2024.