Suburban Propane Partners LP (SPH) Posts Wider Q3 Loss

Suburban Propane Partners LP (NYSE: SPH) reported Q3 EPS of ($0.98), $0.41 worse than the analyst estimate of ($0.57). Revenue for the quarter came in at $297.14 million versus the consensus estimate of $332.05 million.

In announcing these results, President Michael A. Stivala said, "Following a winter heating season in which consumers experienced significantly higher energy bills, as a result of both greater usage and higher average prices, customer demand slowed during the third quarter as customers delayed deliveries while making payments on their winter usage. In addition, our own efforts to manage exposure to higher than normal customer receivable balances resulted in lower volumes and higher provisions for potential bad debts during the third quarter of fiscal 2014. With the heating season behind us, we resumed our integration activities and have made substantial progress executing on our system conversion plans, further refining our operating model and providing enhanced employee training. As the new fiscal year approaches, we will be substantially completed with our system conversions and physical blending activities and will continue to fine-tune our operating model to maximize operating efficiencies within the combined footprint."

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

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