Sprague Resources LP today reported its financial results for the first quarter ended March 31, 2019.

Sprague reported results from its natural gas segment as follows:

Natural Gas

Natural Gas segment volumes decreased 2% to 19.8 million Bcf in the first quarter of 2019, compared to 20.3 million Bcf in the first quarter of 2018.

Natural Gas adjusted gross margin decreased $5.6 million, or 15%, to $32.3 million for the first quarter of 2019, compared to $37.9 million for the first quarter of 2018.

"Natural Gas results were impacted by lower adjusted unit margins due to increased competitive intensity and fewer logistics optimization opportunities than the first quarter of 2018," said David Glendon, Sprague President and Chief Executive Officer.

Net sales for the natural gas segment for the first quarter ended March 31, 2019 were $114 million, versus $129 million a year ago

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