Superior Plus Corp., a North American distributor and marketer of propane and distillates, has reported slips in figures throughout the board. In its quarterly monetary report, Superior Plus mentioned its web revenue for the quarter ended December 31, 2024, landed at $4.2 million, in comparison with $57.8 million for the corresponding quarter in 2023.
For the complete yr 2024, Superior Plus posted a $17.9 million web loss, versus a $57.6 million web revenue for 2023.
Income for the fourth quarter of 2024 was $702.3 million, down from $725.3 million for the corresponding quarter a yr prior. Full-year income reached $2.38 billion, down from $2.48 billion a yr prior.
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Superior Plus mentioned its compressed pure gasoline supply volumes reached 29,406,980 million British thermal items (MMBtu) in 2024, rising 21 % from the professional forma 24,283,131 MMBtu within the prior yr.
“2024 was a defining yr for Superior Plus”, Allan MacDonald, President and Chief Govt Officer, mentioned. “With the launch of Superior Delivers – we set in movement a daring transformation of Superior Plus – making important adjustments to our operations and technique that can drive long-term progress. These adjustments are strengthening our propane enterprise, positioning it to considerably develop profitability and seize better market share within the years forward. In our Compressed Pure Fuel division, we tailored to the altering surroundings by sharpening our capital self-discipline, setting the stage for elevated free money circulate”.
“Whereas 2024 introduced challenges together with unseasonably heat climate in propane and shifting market dynamics in compressed pure gasoline – our progress and dedication remained unwavering”, MacDonald added. “The inspiration we’ve constructed is robust, and I’m absolutely assured that it’s going to translate into the profitability and money circulate we all know the enterprise can ship”, he mentioned.
To contact the writer, electronic mail andreson.n.paul@gmail.com
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