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Ferrellgas Partners L.P Unit (FGPR) has submitted its 10-Q filing for the quarterly period ended January 31, 2025.
The filing includes financial statements for the quarter, showing an increase in revenues to $669.8 million from $609.9 million in the same quarter the previous year. This increase is attributed to higher sales volumes and increased wholesale propane prices.
Operating income for the quarter was $127.6 million, up from $120.4 million in the previous year. The increase was driven by a $19.1 million increase in gross margin, partially offset by higher operating expenses.
Interest expense for the quarter increased to $27.9 million from $24.4 million, primarily due to higher debt issuance costs and fees related to letters of credit.
Net earnings attributable to Ferrellgas Partners, L.P. were $98.8 million, compared to $95.8 million in the previous year. The increase was largely due to higher operating income.
The company reported a distributable cash flow attributable to equity investors of $125.2 million for the quarter, compared to $122.1 million in the previous year.
For the six months ended January 31, 2025, Ferrellgas reported a net loss of $47.8 million, compared to net earnings of $78.2 million in the previous year. This change was primarily due to a $125.0 million legal accrual related to a settlement agreement.
The company had a working capital of $439.6 million as of January 31, 2025, with cash and cash equivalents totaling $39.4 million.
Ferrellgas continues to focus on managing its operations efficiently, with an emphasis on optimizing its fleet and improving route efficiencies.
The filing also details the company's debt structure, including $1.48 billion in long-term debt and a revolving credit facility with a maturity date of December 31, 2025.
Ferrellgas does not anticipate cash dividend payments to Class A and Class B unitholders in the near future due to restrictions under its credit agreement.
The company identified various financial agreements and commitments, including a settlement agreement requiring payments totaling $125.0 million over the next year.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Ferrellgas Partners L.P Unit quarterly 10-Q report dated March 7, 2025. To report an error, please email earnings@qz.com.