Overview
Propane distributor's fiscal Q1 revenue fell 2% yr/yr
Adjusted EBITDA for fiscal Q1 fell 18% yr/yr
Company refinanced $650 mln senior notes and expanded credit facility
Outlook
Ferrellgas is prepared for the winter heating season with improved telematics and safety programs
Company focuses on strategic growth and customer expansion with a strengthened balance sheet
Ferrellgas continues to invest in technology and operational excellence for future growth
Result Drivers
MARGIN IMPROVEMENT - Margin per gallon increased 6% in Q1, helping offset revenue decline
RETAIL SALES GROWTH - Retail sales rose $0.7 mln, driven by residential and agricultural demand
EXPENSE INCREASES - Operating expenses rose due to higher personnel costs and compensation expenses
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q1 Revenue | $355.19 mln | ||
Q1 Gross Profit | $195.16 mln | ||
Q1 Operating Income | $1.87 mln | ||
Q1 Pretax Profit | -$27.20 mln |
Press Release: ID:nGNX2VY7lL
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)