Ferrellgas Partners LP
OTC:FGPR
Ferrellgas Partners LP
Ferrellgas Partners LP engages in the retail distribution of propane and related equipment sales. The company is headquartered in Overland Park, Kansas and currently employs 3,825 full-time employees. The firm serves residential, industrial/commercial, portable tank exchange, agricultural, wholesale and other customers in approximately 50 states, the District of Columbia and Puerto Rico. Its operations primarily include the distribution and sale of propane and related equipment and supplies with concentrations in the Midwest, Southeast, Southwest and Northwest regions of the United States. The firm transports propane purchased from third parties to propane distribution locations and then to tanks on customers' premises or to portable propane tanks delivered to retailers. The company operates portable tank exchanges through a network of partnership-owned distribution outlets and independently-owned distribution outlets.
Ferrellgas Partners LP engages in the retail distribution of propane and related equipment sales. The company is headquartered in Overland Park, Kansas and currently employs 3,825 full-time employees. The firm serves residential, industrial/commercial, portable tank exchange, agricultural, wholesale and other customers in approximately 50 states, the District of Columbia and Puerto Rico. Its operations primarily include the distribution and sale of propane and related equipment and supplies with concentrations in the Midwest, Southeast, Southwest and Northwest regions of the United States. The firm transports propane purchased from third parties to propane distribution locations and then to tanks on customers' premises or to portable propane tanks delivered to retailers. The company operates portable tank exchanges through a network of partnership-owned distribution outlets and independently-owned distribution outlets.
Debt Refinancing: Ferrellgas refinanced $650 million in senior notes due 2026 with new notes maturing in 2031, and expanded its revolving credit facility, improving financial flexibility.
Adjusted EBITDA: Adjusted EBITDA fell 18% to $29.3 million, mainly due to higher personnel and G&A costs, and compared to a prior period that included a large litigation settlement.
Margin Improvement: Margin per gallon increased 6% in the quarter, despite flat gross profit and a small revenue decline.
Customer Wins: The retail division secured 7 new national contracts and renewed 5, totaling about 3.5 million gallons, while the Autogas division saw rising demand.
Acquisitions & M&A: Management emphasized a strong M&A pipeline, but noted activity typically pauses during winter.
Litigation Payment: The final $37.5 million payment for the Eddystone litigation settlement will be made in January, with no expected impact on liquidity.
