---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-25-066399"
form_type: "8-K"
ticker: "SPH"
cik: "0001005210"
company_name: "SUBURBAN PROPANE PARTNERS LP"
filed_at: "2025-05-08T23:59:59+00:00"
generated_at: "2026-05-22T02:53:12.067660+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Suburban Propane Q2 net income $137.1M ($2.11/unit) vs $111.5M; Adj. EBITDA up 19% to $175M

## Summary
- Net income $137.1M ($2.11/unit) vs $111.5M ($1.73/unit) YoY; Adj. EBITDA $175M, +19.1%.
- Retail propane gallons sold 162M, up 15.5% from prior year due to cold weather in Jan-Feb.
- Total gross margin $345.3M, up 12.1% ($42.5M ex mark-to-market, +14.1%).
- Quarterly distribution $0.325/unit ($1.30 annualized); leverage ratio improved to 4.54x.
- Launched ATM equity program for up to $100M; raised $8.8M in Q2 to repay debt.

## SEC filing metadata
- accession: 0000950170-25-066399
- form_type: 8-K
- ticker: SPH
- cik: 0001005210
- company_name: SUBURBAN PROPANE PARTNERS LP
- filed_at: 2025-05-08T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- 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/1005210/000095017025066399/0000950170-25-066399-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1005210/000095017025066399/sph-20250508.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-25-066399
- JSON: https://secwatch.observer/filing/0000950170-25-066399.json
- Plain text: https://secwatch.observer/filing/0000950170-25-066399.txt

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