Ferrellgas Partners (FGP) Reports Q2 Revenues Above Estimates

Ferrellgas Partners (NYSE: FGP) reported Q2 EPS of ($0.02), $0.64 worse than the analyst estimate of $0.62. Revenue for the quarter came in at $755.16 million versus the consensus estimate of $703.96 million.

• Net Loss of $1.8 million, or $0.02 per common unit, compared to net earnings of $38.1 million, or $0.39 per common unit in the prior year period.
  • Net of non-cash charges, net earnings of $47.3 million, $0.49 per common unit is a 26 percent increase over the prior year period.
• Adjusted EBITDA of $120.6 million, up 15 percent over the prior year period.
• Retail volume growth of approximately 17 percent over the prior year period.
• Tank Exchange volume growth of approximately 15 percent over the prior year period.
• Completed two sales of non-core assets during the quarter.
• Credit covenant calculations strengthening.
• 8,700 new customers, growth of more than 1 percent over the prior year.
• Midstream operations stabilized, focused on growth.

For earnings history and earnings-related data on Ferrellgas Partners (FGP) click here.

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