Suburban Propane Partners (SPH) Reports Q4 Loss of $0.83, Revenues Miss

Suburban Propane Partners (NYSE: SPH) reported Q4 EPS of ($0.83), versus $0.00 reported last year. Revenue for the quarter came in at $192.92 million versus the consensus estimate of $195.84 million.

In announcing these results, President and Chief Executive Officer Michael A. Stivala said, "After back to back record warm winters in fiscal years 2016 and 2017, one of our goals coming into fiscal 2018 was to begin to restore our balance sheet strength to best position the business for long-term profitable growth. We are very pleased to report that Adjusted EBITDA for fiscal 2018 improved $40 million, or 16.5%, compared to the prior year and, as a result, we made significant strides toward our stated goals. We put the excess cash flow to work, investing in the growth of our propane operations through two strategic acquisitions in attractive markets, pursuing investments in various "greenfield" expansions in markets that we believe can provide enhanced growth opportunities, and reducing indebtedness by $19 million. Our financial metrics continue to get stronger -- with our leverage ratio improving to 4.36x and distribution coverage greater than 1.3x at the end of fiscal 2018."

For earnings history and earnings-related data on Suburban Propane Partners (SPH) click here.

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