Increase in Gross Profit and Margin
Gross profit increased by $0.9 million or 0.5%, with a margin per gallon increase of 3% due to increased volume on the fixed cost price program for residential customers.
Growth in Tank Exchange Sales
An $8.8 million increase in tank exchange sales was driven by organic growth, particularly from new customer wins, with tank exchange selling locations increasing by 9%.
Adjusted EBITDA Growth
Adjusted EBITDA increased by $2.9 million or 9% to $35.8 million compared to $32.9 million in the prior year quarter.
Successful Acquisitions
Successful onboarding of Eastern Sierra propane and acquisition of Kilhoffer Propane, which perfectly aligned with strategic goals and resulted in market expansion.
Effective Storm Response
Double-digit growth in service areas impacted by hurricanes, with significant support provided through partnerships like Operation Barbecue Relief, which served 1.4 million meals.
Telematics Technology Implementation
Investment in telematics technology led to reduced fuel costs and improved route efficiencies, enhancing logistics and fleet management.