---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-012537"
form_type: "8-K"
ticker: "SPH"
cik: "0001005210"
company_name: "SUBURBAN PROPANE PARTNERS LP"
filed_at: "2024-02-08T23:59:59+00:00"
generated_at: "2026-06-06T05:06:59.877698+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000950170-24-012537
- form_type: 8-K
- ticker: SPH
- cik: 0001005210
- company_name: SUBURBAN PROPANE PARTNERS LP
- filed_at: 2024-02-08T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1005210/000095017024012537/0000950170-24-012537-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1005210/000095017024012537/sph-20240208.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-012537
- JSON: https://secwatch.observer/filing/0000950170-24-012537.json
- Plain text: https://secwatch.observer/filing/0000950170-24-012537.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1005210/000095017024012537/0000950170-24-012537-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.