Huntway Net Income Slides 62% in Quarter

Huntway Partners L.P., a liquid-asphalt producer based in Valencia, posted a 62% drop in first-quarter profit on a 23% decline in revenue.

The partnership’s net income in the three months ended March 31 fell to $429,000 from $1.13 million a year earlier, and its revenue dropped to $17.5 million from $22.8 million.

Huntway attributed the declines partly to wet weather in California and Arizona during the quarter, which lowered demand for asphalt. The average revenue Huntway received for its products also declined in the latest period.