Overview
Propane distributor's fiscal Q1 net income rose significantly yr/yr
Adjusted EBITDA for fiscal Q1 improved 10.8%, driven by higher propane volumes
Company acquired two propane businesses in California for $24 mln
Outlook
Suburban Propane progresses RNG facility projects in New York and Ohio
Result Drivers
COOLER TEMPERATURES - Cooler average temperatures in the Northeast, Mid-Atlantic, and Midwest drove a 4.2% increase in propane volumes sold, according to CEO Michael A. Stivala
RNG OPERATIONS - Improved RNG injection due to increased facility uptime and operational enhancements in Arizona, with new facility commissioning in New York
STRATEGIC ACQUISITIONS - Acquired two propane businesses in California for $24 mln, advancing strategic growth plans
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q1 EPS | $0.69 | ||
Q1 Net Income | $45.78 mln | ||
Q1 Adjusted EBITDA | $83.41 mln | ||
Q1 EBITDA | $82.63 mln | ||
Q1 Operating Income | $67.65 mln | ||
Q1 Pretax Profit | $46.01 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", no "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the oil & gas refining and marketing peer group is "buy"
The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 10 three months ago
Press Release: ID:nPn7LZwzna
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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.)