Q2 2026 Superior Plus Corp. Earnings Call Transcript
Key Points
- Adjusted EBITDA grew 10% year-over-year to $36.8 million, with adjusted EBITDA per share up approximately 40% to $0.07.
- Certarus delivered record second-quarter volumes and EBITDA, driven by a 50% increase in industrial volumes, including data center and power generation customers.
- The company secured another data center contract and finalized agreements for mobile storage units to support contracted demand through 2030.
- Launched a new Mobile Fleet CNG Fleet Fueling business, with a two-year contract to fuel 100 Class 8 trucks from a new Houston hub, expanding into a large addressable market.
- Leverage decreased to 3.6 times at the end of Q2, down 0.3 turns from Q1 and 0.2 turns year-over-year, reflecting lower debt levels.
- US propane adjusted EBITDA was negative $5.1 million, down from flat in the prior year, due to lower retail sales volumes from higher in-tank levels.
- The propane transformation is taking longer than initially expected, with ongoing challenges in customer retention and acquisition.
- Free cash flow was negative $35 million in Q2, $2.6 million lower than the prior year, due to increased capital spending and timing of taxes.
- Well site pricing continued to decline year-over-year, though it has stabilized over the past four quarters.
- Leverage is expected to increase to 4.0 times by year-end and rise slightly in Q3 due to working capital builds and increased CNG investment.
Good day, and thank you for standing by. Welcome to the Superior Plus 2026 second quarter results conference call. At this time, all participants are in a listen-only mode. Please be advised that today's conference is being recorded. (Operator Instructions)
I would now like to hand the conference over to today's host, Chris Lichtenheldt, Vice President, Investor Relations.
Thank you. Good morning, everyone, and welcome to Superior Plus conference call and webcast to review our 2026 second quarter results. On the call today, we have Allan McDonald, President and CEO; Grier Colter, Executive Vice President and Chief Financial Officer; and Dale Winger, President of Certarus. For this morning's call, Allan and Grier will begin with their prepared remarks, and then we'll open the call for questions. Listeners are reminded that some of the comments made today may be forward-looking in nature and information provided may refer to non-GAAP measures. Please refer to our continuous
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