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Superior Plus (TSX:SPB) Reports 3Q2024 Revenue Decline, Driven by Reduced Sales in Propane Segments
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Highlights
Superior Plus Corp. (TSX:SPB) is a prominent North American distributor of propane, natural gas, renewable energy, and related services, serving 770,000 customers across the U.S. and Canada.
In the third quarter of 2024 (Q3 2024), total revenue of SPB decreased by 9.1% YoY, reaching USD 359.4 million, compared to USD 395.5 million in Q3 2023. This decline was primarily driven by reduced revenue in the Wholesale Propane, Canadian Propane, and U.S. Propane segments. Q3F 2024 gross profit also saw a 2.9% YoY decrease, amounting to USD 209.1 million, reflecting the impact of lower sales.
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