---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-25-015009"
form_type: "8-K"
ticker: "SPH"
cik: "0001005210"
company_name: "SUBURBAN PROPANE PARTNERS LP"
filed_at: "2025-02-06T23:59:59+00:00"
generated_at: "2026-05-27T01:18:58.003695+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Suburban Propane Q1 net income $19.4M ($0.30/unit) down from $24.5M; volumes down 0.8% on warm weather

## Summary
- Net income $19.4M ($0.30/unit) vs $24.5M ($0.38) YoY; Adjusted EBITDA flat at $75.3M.
- Retail propane volumes 105.7M gallons (-0.8% YoY) as warm November and lower crop drying offset hurricane demand.
- Total gross margin $226.2M (+6.3%) includes $3.6M unrealized gain; ex-mark-to-market down 0.5%.
- Acquired propane business in NM/AZ for $53M; recorded $19.8M impairment on hydrogen & biofuels investments.
- Quarterly distribution of $0.325/unit declared (annual $1.30), unchanged from prior quarter.

## SEC filing metadata
- accession: 0000950170-25-015009
- form_type: 8-K
- ticker: SPH
- cik: 0001005210
- company_name: SUBURBAN PROPANE PARTNERS LP
- filed_at: 2025-02-06T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1005210/000095017025015009/0000950170-25-015009-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1005210/000095017025015009/sph-20250206.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-25-015009
- JSON: https://secwatch.observer/filing/0000950170-25-015009.json
- Plain text: https://secwatch.observer/filing/0000950170-25-015009.txt

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