Exhibit 99.1

spragueloga04.jpg

News Release

Investor Contact:
Susan Kelly Trahan
+1 800.225.1560
investorrelations@spragueenergy.com

Sprague Resources LP Reports Fourth Quarter and Full Year 2018 Results
Portsmouth, N.H., March 14, 2019 – Sprague Resources LP (“Sprague”) (NYSE: SRLP) today reported its financial results for the
fourth quarter and twelve months ended December 31, 2018.
Fourth Quarter 2018 Highlights
Net sales were $1,079.9 million for the fourth quarter of 2018, compared to $932.2 million for the fourth quarter of 2017.
GAAP net income was $36.5 million for the fourth quarter of 2018, compared to net loss of $12.9 million for the fourth quarter of 2017.
Adjusted gross margin* was $68.4 million for the fourth quarter of 2018, compared to $82.1 million for the fourth quarter of 2017.
Adjusted EBITDA* was $29.0 million for the fourth quarter of 2018, compared to $41.9 million for the fourth quarter of 2017.
Full Year 2018 Highlights
Net sales were $3.8 billion in 2018, compared to net sales of $2.9 billion in 2017.
GAAP net income was $79.8 million in 2018, compared to net income of $29.5 million in 2017.
Adjusted gross margin was $273.7 million in 2018, compared to adjusted gross margin of $261.7 million in 2017.
Adjusted EBITDA was $102.0 million in 2018, compared to adjusted EBITDA of $109.2 million in 2017.
“Sprague’s adjusted gross margin for 2018 increased by 5% to $274 million as gains in Materials Handling and Refined Products were partially offset by a decline in our Natural Gas segment,” stated David Glendon, President and Chief Executive Officer.
Refined Products
Volumes in the Refined Products segment increased 8% to 453.7 million gallons in the fourth quarter of 2018, compared to 421.7 million gallons in the fourth quarter of 2017.
Adjusted gross margin in the Refined Products segment decreased $7.8 million, or 17%, to $39.3 million in the fourth quarter of 2018, compared to $47.2 million in the fourth quarter of 2017.
Volumes in the Refined Products segment increased 164.6 million gallons, or 12%, to 1,580.8 million gallons in 2018 compared to 2017.
Refined Products adjusted gross margin increased $8.5 million, or 6%, to $151.0 million in 2018 compared to 2017.
“For the quarter and the fiscal year, Refined Products' adjusted gross margin increased over 2017 levels on higher discretionary sales and benefiting largely from the full year contribution of the 2017 acquisitions. These


(*) Please refer to Reconciliation of Net Income (Loss) to Non-GAAP Measures

The following information was filed by Sprague Resources Lp (SRLP) on Thursday, March 14, 2019 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.
×

Membership Level change

You have selected the Free membership level.

Get 7 days of FREE access to our online tools for reading 10-Ks and 10-Qs more efficiently:

  • Bullish, Bearish remarks
  • No advertisements
  • Disclosures
  • Wider reading area
  • Email notifications
  • Stock screener

The price for membership is $0.00 now.

Membership expires after 7 Days.


Account Information Already have an account? Log in here

LEAVE THIS BLANK
Your privacy is important to us - We do not rent or sell your personal information
By creating an account, you are agreeing to our Terms and Privacy Policy

Log in with your credentials

or    

Forgot your details?

Create Account