Superior Plus Corp. has reported a net loss of $14.7 million for the second quarter, compared to a net loss of $45.3 million for the corresponding quarter a year ago.
President and Chief Executive Officer Allan MacDonald said the second-quarter performance was impacted by wholesale supply disruption due to a temporary plant shutdown in California, seasonally lower volumes for Superior’s propane business, and deferral of some of second-quarter deliveries, as part of its transformation initiatives.
However, for the first half of the year, Superior reported net earnings of $131.7 million, up from $39.9 million for H1 2024. Superior attributed the rise mainly to a gain on derivatives as opposed to a loss from the previous year, increased gross profit due to colder weather in the propane sectors, and the ongoing expansion of CNG.
“We delivered a strong first-half and continue to build momentum as we advance our Superior Delivers transformation”, MacDonald said. “I’m also encouraged by the performance of our CNG business, especially given the challenges in the oil and gas sector. Through disciplined cost management and strong performance outside of the wellsite business, Certarus grew EBITDA by 5 percent in the first half of 2025 and maintained its leadership position in the market as the sector navigates a temporary cyclical slowdown”.
The company posted revenues of $423.3 million for the second quarter, in line with revenues reported for Q2 2024. Revenues for the first six months of the year reached $1.4 billion, up from $1.3 billion for the first half of 2024.
Superior targets an 8 percent adjusted EBITDA growth compared to the 2024 adjusted EBITDA of $455.5 million.
Source: By Paul Anderson from Rigzone.com