Suburban Propane Partners Earnings Call Transcripts
Fiscal Year 2026
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First quarter results showed strong year-over-year growth in volume, adjusted EBITDA, and net income, driven by colder weather in the east and customer growth. RNG operations expanded, capital projects advanced, and the balance sheet remained strong.
Fiscal Year 2025
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Fiscal 2025 delivered strong propane demand and 11.2% adjusted EBITDA growth, driven by weather, acquisitions, and margin management. Strategic investments in renewable energy and technology modernization supported long-term growth, while leverage and distribution coverage improved.
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Third quarter results showed stable propane volumes and margins despite warm weather and commodity volatility, with adjusted EBITDA flat year-over-year and leverage improving. RNG operations faced production and pricing headwinds, but regulatory changes and capital projects support future growth.
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Q2 delivered record propane volumes and a 19% rise in Adjusted EBITDA, driven by sustained winter demand and effective margin management. Strategic growth continued with a major acquisition, new equity program, and progress in renewables, while leverage and distribution coverage improved.
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Adjusted EBITDA was flat year-over-year at $75.3 million, with propane volumes slightly down due to warm weather but offset by hurricane-driven demand and acquisitions. Colder January weather is expected to drive strong demand, while RNG upgrades and production tax credits support future growth.
Fiscal Year 2024
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Fiscal 2024 saw lower propane demand due to warm weather, but strong cost control, customer growth, and strategic acquisitions helped offset the impact. Investments in RNG and renewable propane advanced, with new facilities and tax credits expected to boost future growth.
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Q3 2024 saw an 8.6% drop in propane volumes due to warm weather, with net loss widening to $8 million. Despite lower demand, unit margins improved, RNG operations expanded, and strategic acquisitions and debt repayments strengthened the balance sheet.