The company said the favorable year-over-year comparison primarily reflects stronger retail and wholesale fuel margins as well as increased merchandise sales and merchandise margins.

A full quarter’s contribution from the partnership’s acquisition of the remaining 68.42% interest in Sunoco LLC and the retail marketing assets from Energy Transfer Partners LP is included in the first-quarter results and the comparable period from the prior year. Comparable-period results from the prior year also include a full quarter’s contribution from the July 2015 Susser Holdings Corp. and April 2015 Sunoco LLC dropdowns.

During the first quarter of 2016 SUN achieved same-store merchandise sales growth of 2.8% and opened four new-to-industry locations with six under construction.

Revenue was $3.2 billion, a decrease of 25.6%, compared to $4.3 billion in the first quarter of 2015. The decrease was the result of a 60ct/gal decrease in the average selling price of fuel as well as a 2.4% decrease in total gallons sold, officials said.

Net income was $62.0 million, or $0.47 per diluted unit, versus $49.3 million, or $0.44 per diluted unit, in the first quarter of 2015, reflecting an increase in operating income partly offset by an increase in interest expense.

On a weighted-average basis, fuel margin for all gallons sold in the first quarter increased to 14.7cts/gal, compared to 12.4cts/gal in the first quarter of 2015. SUN primarily attributes the increase to favorable margins in supply and trading activity partly offset by rapidly rising refined product costs experienced toward the end of the first quarter.

Adjusted EBITDA for the wholesale segment was $102.2 million in the first quarter of 2016 versus $82.0 million in the first quarter of 2015. Total wholesale gallons sold in the first quarter were 1,232.6 million, compared with 1,296.6 million in the first quarter of 2015, a decrease of 4.9%. This includes gallons sold to consignment stores and third-party customers, such as independent dealers, fuel distributors and commercial customers. The partnership earned 11.4cts/gal on these volumes, compared to 9.6cts/gal a year earlier.

Adjusted EBITDA for the retail segment was $56.7 million in the first quarter of 2016 versus $46.2 million in the first quarter of last year. Total retail gallons sold increased by 3.2% to 608.1 million gallons as a result of acquisitions made and new-to-industry sites opened during 2015. The partnership earned 21.3cts/gal on these volumes, compared to 18.6cts/gal a year earlier.

Merchandise sales in the first quarter increased by 8.5% from a year ago to $524.1 million, reflecting acquisitions made and new-to-industry sites opened during 2015. Merchandise sales contributed $166.4 million of gross profit from a retail merchandise margin of 31.7%. Same-store merchandise sales increased by 2.8%, reflecting strong performance across all of SUN’s convenience store operations, while same-store fuel sales declined 1.0%, as a result of inclement weather on the East Coast and lower year-over-year activity in oil producing regions in South and West Texas.

In these oil-producing regions, same-store merchandise sales decreased by 13.3%, and same-store fuel sales declined 16.0%. Excluding these oil-producing regions, same-store sales increased by 5.9% and same-store fuel sales increased by 1.1%.