=Ferrellgas Partners (FGP)

Ferrellgas Partners, L.P. is an American supplier of propane.

• Headquarters: Overland Park, KS
• Number of employees: 3,908 (2016)
• Founded: 1939, Atchison, KS
• Div/yield 0.10/7.62

Ferrellgas Partners misses by $0.11, reports revs in-line

• Reports Q4 (Jul) loss of $0.57 per share, $0.11 worse than the Capital IQ Consensus of ($0.46); revenues rose 5.8% year/year to $433.38 mln vs the $431.74 mln Capital IQ Consensus.
  • Adjusted EBITDA was $230.1 mln compared to $344.7 mln in the prior year period primarily due to decreased contributions from the midstream operations segment.
  • Propane gallons sold were 791.1 mln gallons, compared to 778.9 mln gallons in the prior year. Operating income generated by the propane operations and related equipment sales segment was $187.9 mln, compared to $204.9 mln in the prior year period.
• "Weather for fiscal 2017 was a stunning 18% warmer than normal, and significantly affected our financial results" said James E. Ferrell, the Company's interim President and Chief Executive Officer. "Our strategy is to increase market share as reflected in our 2% increase in retail gallons sold, exceeding those of prior year on an absolute and weather adjusted basis. Overall gross margin was lower than the prior year period due to customer mix and an increase in the overall wholesale cost of propane."