Fri, Mar 7, 1:37 PM (51 days ago)
For the quarter ending January 31, 2025, Ferrellgas Partners, L.P. (Ticker: FGPR) reported a net income of $98.8 million, up from $95.8 million in the prior year, driven by a $19.1 million increase in gross margin. Revenue rose to $669.8 million, a 10% year-over-year increase, attributed to higher propane sales and prices. However, operating expenses increased by $11.1 million, largely due to personnel costs. The six-month period ended January 31, 2025, saw a net loss of $47.8 million, significantly impacted by a $125 million legal accrual related to a settlement. Adjusted EBITDA for the same period increased by $13 million to $192.9 million, reflecting operational growth despite rising costs. Cash flow from operations turned negative at $1.4 million due to increased working capital needs, while capital expenditures decreased to $44.3 million. The company’s liquidity stood at $237.3 million, with $152.1 million in letters of credit outstanding. Ferrellgas Partners is currently unable to distribute cash to its Class A and B unitholders under its credit agreement, limiting cash flow flexibility amid ongoing legal obligations. The company continues to monitor market risks related to propane prices and weather conditions, which significantly influence demand and operational performance.