Canada · Delayed Price · Currency is CAD Superior Plus Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 saw strong Propane performance and a strategic pivot to CNG growth, driven by over $350 million in new data center contracts. Adjusted EBITDA guidance for 2027 was raised to 5% growth, with CapEx ramping up to support expansion and leverage expected to rise temporarily.
Fiscal Year 2025
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Adjusted EBITDA grew 2% to $463.5M in 2025, with propane up and CNG down due to wellsite pricing pressure. Superior Delivers transformation is on track but will take longer, and 2026 guidance calls for 2% EBITDA growth. Capital allocation is shifting toward debt repayment ahead of preferred share redemption.
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Transformation initiatives are driving operational efficiency and customer growth, though Q3 results were impacted by one-time costs, CNG pricing pressure, and a supply disruption. Guidance for 2025 was revised down, but long-term targets and capital allocation priorities remain intact.
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First half results were strong, with adjusted EBITDA up 5.4% and significant progress in both propane and CNG businesses. Transformation initiatives are on track, with major benefits expected in Q4, and share repurchases and capital efficiency remain key priorities.
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Strong Q1 results with 10.5% adjusted EBITDA growth, driven by higher propane and CNG volumes, operational efficiencies, and share repurchases. Superior Delivers transformation is on track, while CNG faces near-term pricing pressure but maintains long-term optimism.
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A comprehensive transformation strategy targets sustainable, profitable growth through operational efficiency, technology investment, and a shift to organic growth. Financial guidance includes a 25% EBITDA increase and nearly 200% free cash flow growth by 2027, with Soteris driving CNG/RNG leadership and targeted expansion.
Fiscal Year 2024
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2024 saw a strategic transformation with operational improvements and a shift to share buybacks, despite weather and market challenges. 2025 guidance targets 8% EBITDA growth, disciplined CapEx, and further deleveraging, with Superior Delivers expected to drive significant gains.
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Announced a major transformation with Superior Delivers targeting $50M+ incremental EBITDA by 2027, a 75% dividend cut to fund share buybacks, and improved capital efficiency. Q3 saw flat propane results and strong Certarus growth, with 2024 guidance revised to flat EBITDA growth.
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Q2 EBITDA rose $14M year-over-year, driven by Certarus, despite weather and pricing headwinds. Guidance for $500M Adjusted EBITDA in 2024 is maintained, with propane growth and cost initiatives expected to offset Certarus' softer outlook.