Suburban Propane Partners (SPH) Misses Q1 EPS by 5c, Revenues Miss

Suburban Propane Partners (NYSE: SPH) reported Q1 EPS of $0.64, $0.05 worse than the analyst estimate of $0.69. Revenue for the quarter came in at $333.88 million versus the consensus estimate of $354.36 million.

In announcing these results, President and Chief Executive Officer Michael A. Stivala said, "While the fiscal 2020 heating season started off with favorable weather and active crop drying demand, unseasonably warm weather dominated the month of December 2019 which negatively impacted customer demand for heating purposes. Nonetheless, our operations personnel continue to do an excellent job managing margins and expenses, and executing on our customer base growth and retention initiatives. On the strategic front, we continue to pursue growth through our new market expansion efforts, as well as through the acquisition of two well-run propane businesses in strategic markets in California and Georgia. We still have plenty of heating season ahead and our business is very well positioned to meet increased heat-related demand, and to adapt in the event of continued unseasonably warm weather."

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

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