Huntway Reports Profit Despite Revenue Decline

Huntway Partners L.P. of Valencia reported a profit for the three months ended Sept. 30, despite a 3% decline in revenues. The producer of liquid asphalt and other products refined from crude oil said it earned $946,000 in the third quarter, compared to a year-earlier loss of $3.58 million, while revenues fell to $34.6 million from $35.7 million.

Huntway’s latest nine-month profit was $3.76 million, versus a year-earlier loss of $2.8 million. Revenues totaled $88.9 million, up 3% from $86 million for the same period a year earlier.

Huntway said its improved results reflected reduced costs.