Boston, MA 04/29/2014 (wallstreetpr) – Petrologistics LP (NYSE:PDH), the only independent propylene producer of the USA has recently announced Q1 results. It made both financial as well as operational results public in a press conference which was held specifically for this purpose.
The distribution for the quarter ended on 31st March was calculated as 37 cents per common unit. The total sales for the first quarter crossed the 200 mark and was totaled at $220 million. The story does not end here as the net income was $46.7 million. The results included certain items which had an impact over comparability of financial results between two reporting periods. If these items are excluded then the net EBITDA of the company was $67.5 million and adjusted net income was 48 million.
If the major operations are taken into consideration then it can be seen easily that the firm produced total 315.5 million pounds propylene during the Q1 of the current year. If compared to the quantity amounted last year’s first quarter then a clear difference of $17.5 million pounds can be seen. Last year company produced 298.9 million pounds propylene. In the first quarter of last year, Petrologistics LP (NYSE:PDH) registered a total sale of $208.7 million, while, in current year’s first quarter, the sales touched $220 million mark.
When the cost of sales is compared, then a clear difference can be seen as the current year’s first quarter’s cost of sales is $161.6 million, while last year it was $114.1. The increase in cost of sales is due to increment in the average price of propylene during this period. The average price was $1,30 per gallon in the first quarter of year 2014 in comparison to the average price of 86 cents per gallon in the year 2013.
Above data clearly shows that Petrologistics LP (NYSE:PDH) has registered a significant growth in last 12 months both in terms of sales as well as profit numbers.
