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Sprague Resources Lp (SRLP) SEC Filing 10-K Annual report for the fiscal year ending Sunday, December 31, 2017

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CIK: 1525287 Ticker: SRLP


Exhibit 99.1


spraguelogoa15.jpg


News Release

Investor Contact:
Kory Arthur
+1 603.766.7401
karthur@spragueenergy.com
Sprague Resources LP Reports Fourth Quarter and Full Year 2017 Results
Partnership issues 2018 Adjusted EBITDA Guidance of $120 to $140 Million
Portsmouth, NH (March 14, 2018) - Sprague Resources LP (“Sprague”) (NYSE: SRLP) today reported its financial results for the
fourth quarter and twelve months ended December 31, 2017.
Fourth Quarter 2017 Highlights

•
Net sales were $932.2 million for the fourth quarter of 2017, compared to net sales of $766.8 million for the fourth quarter of 2016.
•
GAAP net loss was $12.9 million for the fourth quarter of 2017, compared to net loss of $1.1 million for the fourth quarter of 2016.
•
Adjusted gross margin(1) was $82.1 million for the fourth quarter of 2017, compared to adjusted gross margin of $69.4 million for the fourth quarter of 2016.
•
Adjusted EBITDA(1) was $41.9 million for the fourth quarter of 2017, compared to adjusted EBITDA of $30.7 million for the fourth quarter of 2016.
Full Year 2017 Highlights

•
Net sales were $2.9 billion in 2017, compared to net sales of $2.4 billion in 2016.
•
GAAP net income was $29.5 million in 2017, compared to net income of $10.2 million in 2016.
•
Adjusted gross margin was $261.7 million in 2017, compared to adjusted gross margin of $259.3 million in 2016.
•
Adjusted EBITDA was $109.2 million in 2017, compared to adjusted EBITDA of $110.2 million in 2016.


(1) Please refer to Reconciliation of Net Income (Loss) to Non-GAAP Measures
The following information was filed by Sprague Resources Lp (SRLP) on Wednesday, March 14, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Operations
Consolidated Statements Of Unitholders' Equity
Accounts Receivable, Net
Accounts Receivable, Net (tables)
Accounts Receivable, Net - Additional Information (detail)
Accounts Receivable, Net - Reconciliation Of Beginning And Ending Amount Of Allowance For Doubtful Accounts (detail)
Accounts Receivable, Net - Schedule Of Accounts Receivable, Net (detail)
Accrued Liabilities
Accrued Liabilities (tables)
Accrued Liabilities - Schedule Of Accrued Liabilities (detail)
Accumulated Other Comprehensive Loss, Net Of Tax
Accumulated Other Comprehensive Loss, Net Of Tax (tables)
Accumulated Other Comprehensive Loss, Net Of Tax - Schedule Of Accumulated Other Comprehensive Loss, Net Of Tax (detail)
Business Combinations
Business Combinations (tables)
Business Combinations - Additional Information (detail)
Business Combinations - Fair Value Of Assets Acquired And Liabilities Assumed (details)
Business Combinations - Summary Of Proforma Information (details)
Commitments And Contingencies
Commitments And Contingencies (tables)
Commitments And Contingencies - Additional Information (detail)
Commitments And Contingencies - Schedule Of Future Annual Payments For Operating Leases (detail)
Credit Agreement
Credit Agreement (tables)
Credit Agreement - Additional Information (detail)
Credit Agreement - Schedule Of Debt (detail)
Description Of Business And Summary Of Significant Accounting Policies
Description Of Business And Summary Of Significant Accounting Policies (policies)
Description Of Business And Summary Of Significant Accounting Policies (tables)
Description Of Business And Summary Of Significant Accounting Policies - Additional Information (detail)
Description Of Business And Summary Of Significant Accounting Policies - Schedule Of Estimated Useful Lives Of Property Plant And Equipment (detail)
Earnings Per Unit
Earnings Per Unit (tables)
Earnings Per Unit - Additional Information (detail)
Earnings Per Unit - Schedule Of Partnership's Basic Earnings (loss) Per Common And Subordinated Unit (detail)
Earnings Per Unit - Summary Of Weighted Average Common Units Outstanding (detail)
Equity And Equity-based Compensation
Equity And Equity-based Compensation (tables)
Equity And Equity-based Compensation - Additional Information (detail)
Equity And Equity-based Compensation - Schedule Of Changes In Partnership's Units (detail)
Equity And Equity-based Compensation - Summary Of Partnership's Unit Awards Subject To Vesting (detail)
Financial Instruments And Off-balance Sheet Risk
Financial Instruments And Off-balance Sheet Risk (tables)
Financial Instruments And Off-balance Sheet Risk - Additional Information (detail)
Financial Instruments And Off-balance Sheet Risk - Interest Rate Derivatives - Notional Amounts (details)
Financial Instruments And Off-balance Sheet Risk - Schedule Of Gross Volume Of Commodity Derivative Instruments Outstanding (detail)
Financial Instruments And Off-balance Sheet Risk - Summary Of Financial Assets And Financial Liabilities Of Partnership Measured At Fair Value On Recurring Basis (detail)
Financial Instruments And Off-balance Sheet Risk - Summary Of Offsetting Arrangements (detail)
Financial Instruments And Off-balance Sheet Risk - Summary Of Realized And Unrealized (losses) And Gains On Derivative Instruments For Commodity Risk Management (detail)
Financial Instruments And Off-balance Sheet Risk Financial Instruments And Off-balance Sheet Risk - Level 3 Liabilities Reconciliation (details)
Income Taxes
Income Taxes (tables)
Income Taxes - Additional Information (detail)
Income Taxes - Components Of Income (loss) Before Income Taxes And Equity In Net Loss Of Foreign Affiliate (detail)
Income Taxes - Schedule Of Components Of Deferred Tax Assets (liabilities) (detail)
Income Taxes - Schedule Of Income Tax Provision (benefit) Attributable To Operations (detail)
Income Taxes - Schedule Of Reconciliations Of Statutory U.s. Federal Income Tax To Effective Income Tax For Operations (detail)
Intangibles, Net
Intangibles, Net (tables)
Intangibles, Net - Additional Information (detail)
Intangibles, Net - Schedule Of Intangible Assets Useful Life And Amortization (detail)
Inventories
Inventories (tables)
Inventories - Additional Information (detail)
Inventories - Schedule Of Inventories (detail)
Other Assets, Net
Other Assets, Net (tables)
Other Assets, Net - Additional Information (detail)
Other Assets, Net - Schedule Of Other Assets, Net (detail)
Other Current Assets
Other Current Assets (tables)
Other Current Assets - Schedule Of Other Current Assets (detail)
Other Obligations
Other Obligations (tables)
Other Obligations - Additional Information (detail)
Other Obligations - Schedule Of Other Liabilities (detail)
Other Obligations - Summary Of Change In Asset Retirement Obligation (details)
Other Obligations - Summary Of Deferred Consideration Maturity (details)
Partnership Distributions
Partnership Distributions (tables)
Partnership Distributions - Additional Information (detail)
Partnership Distributions - Schedule Of Cash Distributions Paid To Unitholder (details)
Property, Plant And Equipment, Net
Property, Plant And Equipment, Net (tables)
Property, Plant And Equipment, Net - Additional Information (detail)
Property, Plant And Equipment, Net - Schedule Of Property, Plant And Equipment Include Amounts For Capital Leases (detail)
Property, Plant And Equipment, Net - Schedule Of Property, Plant And Equipment, Net (detail)
Quarterly Financial Data (unaudited)
Quarterly Financial Data (unaudited) (tables)
Quarterly Financial Data (unaudited) - Summary Of Quarterly Financial Data (detail)
Related Party Transactions
Related Party Transactions - Additional Information (detail)
Retirement Plans
Retirement Plans - Additional Information (detail)
Segment Reporting
Segment Reporting (tables)
Segment Reporting - Additional Information (detail)
Segment Reporting - Summary Of Changes In Carrying Amount Of Goodwill By Segment (detail)
Segment Reporting - Summary Of Financial Information For Partnership's Reportable Segments (detail)
Segment Reporting - Summary Of Long-lived Assets (exclusive Of Intangible And Other Assets, Net And Goodwill) Classified By Geographic Location (detail)
Ticker: SRLP
CIK: 1525287
Form Type: 10-K Annual Report
Accession Number: 0001525287-18-000037
Submitted to the SEC: Wed Mar 14 2018 5:08:02 PM EST
Accepted by the SEC: Wed Mar 14 2018
Period: Sunday, December 31, 2017
Industry: Wholesale Petroleum Bulk Stations And Terminals

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