Significant Increase in Heating Oil and Propane Volume
Home heating oil and propane volume increased by 23% to 144 million gallons in Q2, contributing to a $32 million improvement in adjusted EBITDA.
Successful Acquisition Strategy
Completed $126.5 million in acquisitions since February 1, 2024, enhancing market presence and contributing to increased volume and profitability.
Increased Dividend for Shareholders
Annual dividend was raised by $0.05 to $0.74 per unit, reflecting the company's commitment to maximizing returns for investors.
Improved Service and Installation Business
Service and installation business profitability increased, contributing an additional $1.6 million to adjusted EBITDA in Q2.
Overall Profitability and Growth
Net income for Q2 rose by $18 million to $86 million, driven by higher adjusted EBITDA and increased margins.