Financial Data and Key Metrics Changes - For Q1 2026, the company reported an Adjusted EBITDA of $83.4 million, an increase of $8.1 million or nearly 11% compared to the prior year [7][9] - Net income for the first quarter was $38 million, translating to $0.59 per common unit [9] - Total gross margin for the first quarter was $238.6 million, an increase of $16.1 million or 7.2% year-over-year [11] Business Line Data and Key Metrics Changes - Retail propane gallons sold totaled 100 million, reflecting a 4.2% increase compared to the prior year [9] - The average daily renewable natural gas (RNG) injection increased both sequentially and year-over-year due to operational enhancements at the Stanfield, Arizona facility [7] Market Data and Key Metrics Changes - Average wholesale propane prices per gallon were in the $0.60 range, down from $0.90 per gallon a year ago [11] - Propane inventories were reported at 89 million barrels, which is 34% above historical averages for this time of year [11] Company Strategy and Development Direction - The company is focused on long-term strategic growth plans, including the acquisition of two well-run propane businesses in California and progressing capital projects to grow RNG production [8] - The company is investing nearly $7 million in strategic refinancing of its 2027 senior notes [8] Management's Comments on Operating Environment and Future Outlook - Management noted that colder weather in the northern operating territories drove heat-related demand, contributing to the increase in volume sold [6] - The company remains committed to growing its core propane business while also expanding into alternative, lower carbon, renewable fuels [17] Other Important Information - The Board of Supervisors declared a quarterly distribution of $0.325 per common unit, equating to an annualized rate of $1.30 per common unit [16] - The consolidated leverage ratio improved to 4.57 times compared to 4.0 for the period ended December 2024 [13] Q&A Session Summary - There were no questions during the Q&A session, and the call concluded without any inquiries from participants [18]