Abstract

Suburban Propane Partners LP will release fiscal Q1 2026 results on February 05, 2026 Pre-Market. This preview compiles consensus forecasts and recent financials to frame expectations for revenue, margins, net income, and adjusted EPS, alongside business segment dynamics and the prevailing institutional stance on the shares.

Market Forecast

Consensus points to Suburban Propane Partners LP delivering revenue of $392.00 million for the current quarter, up 4.81% year over year, with forecast EBIT of $65.00 million and adjusted EPS of $0.71, implying year-over-year growth of 1.56% for EBIT and 5.19% for EPS. Forecast commentary implies stable-to-slightly higher gross margin and an improving net income profile; specific forecasts for gross profit margin and net margin are not broadly published, so we assess directionally from EBIT and EPS trends. The main business remains propane distribution, with a stable volume backdrop supported by normalizing weather and resilient residential demand. The most promising segment is core propane, with trailing revenue of $1.27 billion; growth this quarter is expected to be modestly positive on a year-over-year basis in line with the 4.81% consolidated forecast.

Last Quarter Review

In the previous quarter, Suburban Propane Partners LP reported revenue of $183.07 million, a gross profit margin of 10.75%, a GAAP net loss attributable to the parent company of $35.14 million with a net profit margin of -16.62%, and adjusted EPS of -$0.53, reflecting year-over-year improvement. Management highlighted cost control and operating discipline against a seasonally soft quarter, while maintaining focus on retail price management and deliveries efficiency. By business line, propane remained the core contributor with revenue of $1.27 billion on a trailing basis; smaller segments included other products at $75.08 million, fuel oil and refined fuels at $67.35 million, and natural gas and electricity at $24.59 million.

Current Quarter Outlook (with major analytical insights)

Propane Distribution and Retail

The propane franchise is expected to drive the quarter’s performance as the winter heating season coincides with fiscal Q1. Forecast revenue of $392.00 million suggests a supportive demand environment, with degree-day trends likely near long-term averages. With retail price management and hedging practices, gross margin should benefit from relatively stable wholesale costs, enabling a pass-through that preserves cents-per-gallon economics. Profit conversion could improve versus the prior quarter as operating leverage returns with higher volumes, translating the $65.00 million EBIT forecast and $0.71 adjusted EPS into an improved net income margin profile, provided distribution costs remain contained.

Emerging Energy Solutions and Adjacent Offerings

While still small in absolute dollars, the company’s other revenue lines—such as natural gas and electricity offerings and refined fuels—provide incremental contribution in colder geographies and can cushion regional propane variability. On a year-over-year basis, the consolidated revenue growth forecast of 4.81% suggests these adjacencies hold steady to slightly positive, with the largest upside still anchored in propane volumes. The quarter’s margin sensitivity will hinge on product mix and logistics; refined fuels can have tighter margins, so a mix skew back to propane should be margin accretive.

Key Stock Price Drivers This Quarter

Weather normalization, wholesale propane price stability, and operating efficiency are central valuation levers. If degree-days track or exceed historical norms across key regions, volume throughput should support revenue and gross margin, validating the $65.00 million EBIT outlook. Conversely, any spike in transportation costs or unseasonal warm weather would pressure unit economics and push net margin below expectations. Investor attention will also be on cash generation and distribution coverage through peak-season earnings, as these inform confidence in the forward payout and balance sheet flexibility.

Analyst Opinions

Across recently published views, the majority stance among institutions is bullish, citing a constructive setup into the heating season with modest year-over-year revenue growth of 4.81% and an adjusted EPS forecast of $0.71. Analysts point to healthy residential demand resilience and disciplined cost control that should lift EBIT to $65.00 million. A supportive commodity backdrop and hedging programs are seen as stabilizers for gross margin, while operational execution during peak demand is expected to drive sequential improvement from the prior quarter’s seasonal trough. Overall, the prevailing view anticipates in-line to slightly better results, with upside tied to weather-driven volumes and stable wholesale costs.