PetroLogistics Q1'14 propylene sales mount 4.9%

24 Apr '14

3 min read

Cost of sales was $161.6 million and $114.1 million for the first quarters of 2014 and 2013, respectively. The increase in cost of sales was primarily attributed to the increase in the average price of propane which climbed to $1.30 per gallon in 2014 compared to 86 cents per gallon for the same period in 2013. Propane feedstock costs are the primary component of cost of sales and represented approximately 76% and 70% of total production costs for the first quarters of 2014 and 2013.

For the first quarter of 2014, the Partnership had a gross profit of $58.4 million, and the average propane-to-propylene spread1 was 36.2 cents per pound, compared to a gross profit of $94.6 million, and an average spread of 50.4 cents for the first quarter of 2013.

Distribution

The first quarter 2014 distribution of 37 cents per common unit will be paid on May 14, 2014, to unitholders of record on May 5, 2014. This brings the aggregate distributions for the twelve months ended March 31, 2014, to $1.42 per common unit.

About PetroLogistics LP

PetroLogistics LP is a master limited partnership which owns and operates the only U.S. propane dehydrogenation facility producing propylene from propane. The Partnership's headquarters and operations are located in Houston, Texas.

PetroLogistics

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