Sprague Resources LP (SRLP) on Q1 2021 Results - Earnings Call Transcript

Operator: Ladies and gentlemen, thank you for standing by, and welcome to Sprague Resources LP Q1 2021 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. I would now like to hand the conference over to your speaker today, David Glendon, President and CEO. You may begin. David Glendon: Thank you, Suwanda. Good afternoon, everyone and welcome to Sprague Resources’ first quarter 2021 conference call. Joining me today are David Long, our Chief Financial Officer; and Paul Scoff, our Vice President and General Counsel. I'd like to remind listeners that some of today’s call will include forward-looking statements. These statements are based on our current expectations, which we believe to be reasonable as of today’s date, and Sprague does not undertake any obligation to update any forward-looking statements to reflect new information or future events. David Long: Thank you, Dave. And good afternoon everyone. Sprague's quarterly adjusted gross margin increased by 28% or $23.1 million to $106.2 million as compared to the first quarter of 2020. This increase was attributable to gains at our refined products and natural gas businesses which were partially offset by declines in the material handling business. Operator:
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