Sprague Resources LP Reports First Quarter 2021 Results

b'PORTSMOUTH, N.H., May 06, 2021 (GLOBE NEWSWIRE) -- Sprague Resources LP (\xe2\x80\x9cSprague\xe2\x80\x9d) (NYSE: SRLP) today reported its financial results for the first quarter ended March\xc2\xa031, 2021.\nNet sales were $1,036.1 million for the first quarter of 2021, compared to net sales of $959.9 million for the first quarter of 2020.\nGAAP net income was $48.8 million for the first quarter of 2021, compared to net income of $46.7 million for the first quarter of 2020.\nAdjusted gross margin* was $106.2 million for the first quarter of 2021, compared to adjusted gross margin of $83.1 million for the first quarter of 2020.\nAdjusted EBITDA* was $61.8 million for the first quarter of 2021, compared to adjusted EBITDA of $42.4 million for the first quarter of 2020.\n\xe2\x80\x9cSprague\xe2\x80\x99s Adjusted EBITDA increased by 46% over last year as our Refined Products and Natural Gas businesses captured opportunities associated with the modestly colder weather.