Record First Quarter Adjusted EBITDA
First quarter adjusted EBITDA of $260.5 million increased 10.5% compared to the first quarter last year, driven by strong results in both propane and compressed natural gas.
Significant Growth in Free Cash Flow
Free cash flow per share increased by 54%, driven by strong operating results and a share count that is roughly 5% lower quarter-over-quarter due to share repurchases.
Superior Delivers Initiative on Track
The Superior Delivers program contributed approximately $2.3 million of EBITDA in the quarter and remains on track to contribute $20 million to adjusted EBITDA this year.
Share Repurchase Program Progress
The company repurchased approximately 16.5 million shares, or 7% of outstanding shares, since starting the buyback program, expecting to reach the 10% threshold by early Q3.