Suburban Propane Q1 net income drops 46% to $24.5M on warm weather; volumes down 2%

SUBURBAN PROPANE PARTNERS LP

2024-Q1 EPS reported $0.38 revenue$365,834,000

Net income $24.5M ($0.38/unit) vs $45.4M ($0.71/unit) a year ago; Adjusted EBITDA $75.2M vs $90.0M.
Propane volumes slipped 2.0% to 106.5M gallons; December temperatures 10% warmer than normal.
Total gross margin $212.8M, down $2.0M including $10.8M unrealized derivative loss.
Combined operating & G&A expenses rose 6.4% to $147.6M, partly from RNG facility costs.
Quarterly distribution unchanged at $0.325/unit, payable Feb 13, 2024.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SUBURBAN PROPANE PARTNERS LP reported first quarter ended December 30, 2023 results: net income $24.5 million, EPS $0.38 per Common Unit.

Period: first quarter ended December 30, 2023
Net income: $24.5 million
EPS: $0.38 per Common Unit
Result: reported results

Exact text from the filing

Suburban Propane Partners, L.P. (NYSE:SPH), today announced earnings for its first quarter ended December 30, 2023. Net income for the first quarter of fiscal 2024 was $24.5 million, or $0.38 per Common Unit

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Source: SEC EDGAR

accession 0000950170-24-012537

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