CW Petroleum Corp (OTCQB: CWPE) Reports Revenues for Q4-2024, Year-End

/EIN News/ -- Katy, Texas, Feb. 11, 2025 (GLOBE NEWSWIRE) -- CW Petroleum Corp (OTCQB: CWPE) (the “Company”), a leading provider of Specialty Renewable and Hydrocarbon Motor Fuels, today announces to its investors and future investors unaudited financial results for the fourth quarter ended December 31, 2024, Year-End 2024.

Key Financial Highlights for Three Months Ended December 31, 2024, Compared to Prior Year Period:

• 2024 Revenues of $1.73 Million vs 2023 Revenues of $1.98 Million
  
  
• 2024 EBITDA of $96,220 vs 2023 EBITDA of $51,567
  
  
• 2024 Net Income of $48,633 vs 2023 Net Income (loss) of ($9,749)
  

Key Financial Highlights for Twelve Months Ended December 31, 2024, Compared to Prior Year Period:

• 2024 Revenues of $8.00 Million vs 2023 Revenues of $9.31 Million
  
  
• 2024 EBITDA of $180,850 vs 2023 EBITDA of $732,733
  
  
• 2024 Net Income (loss) of ($44,322) vs 2023 Net Income of $449,293
  

Management Commentary:

Chief Executive Officer Christopher Williams commented, “The Company continues to produce substantial annual revenues between $8MM-$10MM, making it a top-tier company in the OTC Markets space. Despite posting ~$8MM in revenue for 2024, the Company only slightly missed its 2024 volume sales target compared to 2023. The result in the ~$1.0MM revenue drop is due to the lower average cost of renewable and petroleum-based fuels in 2024 compared to the increased average cost of renewable and petroleum-based fuels in 2023. The Company regained OTCQB status in May 2024 and continues to seek an uplisting to Nasdaq or NYSE with a $5MM-$15MM capital raise to execute its growth plan.

The Company’s 2024 Financial Audit has started and will report its SEC Form 1-K (2024 Annual Report) by 4/30/2025.

Additional accurate information about the Company can be found on the OTC Markets website at the following links and on the EDGAR filing website provided by the Securities and Exchange Commission:

CWPE Overview
CWPE Security Detail
CWPE Financials
CWPE News
CWPE Disclosures

SEC Filings

For additional information, visit our website at cwpetroleumcorp.com, email: investor@cwpetroleumcorp.com , or call 281-817-8099

About CW Petroleum Corp

CW Petroleum Corp, a Texas corporation, began operations in 2011. CW Petroleum Corp, a Wyoming corporation, was incorporated in April 2018 and has acquired the Texas corporation as a wholly-owned subsidiary. CW Petroleum Corp supplies and distributes Biodiesel, Biodiesel Blends, Renewable Gasoline, and a 92 Octane Reformulated No Ethanol Gasoline to distributors, convenience stores, marinas, and end-users. The EPA licenses the Company to create its proprietary gasoline blends. CW Petroleum Corp is licensed to distribute Diesel Fuel & Gasoline by the States of Texas, Louisiana, Oklahoma, California, Colorado, New Jersey, Maryland, Pennsylvania, and Arizona.

Forward-Looking Statements

Certain statements in this press release may contain “forward-looking statements” regarding future events and our future results. All statements other than statements of historical facts are statements that could be deemed to be forward-looking statements. These statements are based on current expectations, estimates, forecasts, and projections about the oil and gas markets, energy markets, and other markets in which we operate and the beliefs and assumptions of our management. Words such as “expects,” “anticipates,” “targets,” “goals,” “projects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “endeavors,” “strives,” “may,” or variations of such words and similar expressions are intended to identify such forward-looking statements. Readers are cautioned that these forward-looking statements are subject to a number of risks, uncertainties, and assumptions that are difficult to predict, estimate, or verify. Therefore, actual results may differ materially and adversely from those expressed in any forward-looking statements. Such risks and uncertainties include those factors described in the Company’s most recent annual report on Form 1-K, which may be amended or supplemented by subsequent semiannual reports on Form 1-SA or other reports filed with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements are made only as of the date hereof, and the Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements. For more information, please refer to the Company’s filings with the Securities and Exchange Commission.

No Offer or Solicitation

This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.