We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Ferrellgas (FGP) Q3 Earnings & Revenues Lag Estimates
Read MoreHide Full Article
Ferrellgas Partners LP reported third-quarter fiscal 2017 adjusted earnings of 7 cents per unit, lagging the Zacks Consensus Estimate of 10 cents by 30.0%. Further, quarterly earnings were 63.1% lower than the year-ago earnings of 19 cents.
Total Revenue
In the reported quarter, Ferrellgas Partners’ total revenue came in at $538.1 million, missing the Zacks Consensus Estimate of $573 million by 6.1%.
However on a year-over-year basis, the partnership’s top line improved 5.6% primarily owing to better contribution from Propane and other gas liquids sales, as well as Midstream operations. Meanwhile the Other segment plunged 46.4% year over year.
Ferrellgas Partners, L.P. Price, Consensus and EPS Surprise
In the reported quarter, 212.2 million gallons of Propane were sold compared with 223.4 million gallons in the prior-year quarter.
Operating expenses in the reported quarter were $104.7 million, down 9.1% from the prior-year level.
General and administrative expenses for the quarter decreased 20.2% to $9.9 million from $12.4 million in the prior-year period.
Operating income in the reported quarter was $46.2 million, down 14.8% year over year. Despite a higher sales volume, margins in the reported quarter were lower due to customer mix.
Interest expenses increased to $39.9 million in the quarter from $34.7 million a year ago, reflecting an increase of 16.3%.
Financial Position
Ferrellgas Partners’ cash and cash equivalents were $9.5 million as of Apr 30, 2017, compared with $4.9 million as of Jul 31, 2016.
Long-term debt was $1,984.2 million as of Apr 30, 2017, up from $1,941.3 million as of Jul 31, 2016.
Peer Releases
Sunoco LP (SUN - Free Report) reported first-quarter 2017 loss of 22 cents per unit, lagging the Zacks Consensus Estimate of earnings of 6 cents by 466.67%.
Genesis Energy LP (GEL - Free Report) reported first-quarter 2017 earnings of 23 cents per unit, beating the Zacks Consensus Estimate of 22 cents by 4.55%.
AmeriGas Partners LP reported first-quarter 2017 earnings of $1.68 per unit, lagging the Zacks Consensus Estimate of $2.16 by 22.22%.
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market. Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020. Click here for the 6 trades >>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Ferrellgas (FGP) Q3 Earnings & Revenues Lag Estimates
Ferrellgas Partners LP reported third-quarter fiscal 2017 adjusted earnings of 7 cents per unit, lagging the Zacks Consensus Estimate of 10 cents by 30.0%. Further, quarterly earnings were 63.1% lower than the year-ago earnings of 19 cents.
Total Revenue
In the reported quarter, Ferrellgas Partners’ total revenue came in at $538.1 million, missing the Zacks Consensus Estimate of $573 million by 6.1%.
However on a year-over-year basis, the partnership’s top line improved 5.6% primarily owing to better contribution from Propane and other gas liquids sales, as well as Midstream operations. Meanwhile the Other segment plunged 46.4% year over year.
Ferrellgas Partners, L.P. Price, Consensus and EPS Surprise
Ferrellgas Partners, L.P. Price, Consensus and EPS Surprise | Ferrellgas Partners, L.P. Quote
Highlights of the Release
In the reported quarter, 212.2 million gallons of Propane were sold compared with 223.4 million gallons in the prior-year quarter.
Operating expenses in the reported quarter were $104.7 million, down 9.1% from the prior-year level.
General and administrative expenses for the quarter decreased 20.2% to $9.9 million from $12.4 million in the prior-year period.
Operating income in the reported quarter was $46.2 million, down 14.8% year over year. Despite a higher sales volume, margins in the reported quarter were lower due to customer mix.
Interest expenses increased to $39.9 million in the quarter from $34.7 million a year ago, reflecting an increase of 16.3%.
Financial Position
Ferrellgas Partners’ cash and cash equivalents were $9.5 million as of Apr 30, 2017, compared with $4.9 million as of Jul 31, 2016.
Long-term debt was $1,984.2 million as of Apr 30, 2017, up from $1,941.3 million as of Jul 31, 2016.
Peer Releases
Sunoco LP (SUN - Free Report) reported first-quarter 2017 loss of 22 cents per unit, lagging the Zacks Consensus Estimate of earnings of 6 cents by 466.67%.
Genesis Energy LP (GEL - Free Report) reported first-quarter 2017 earnings of 23 cents per unit, beating the Zacks Consensus Estimate of 22 cents by 4.55%.
AmeriGas Partners LP reported first-quarter 2017 earnings of $1.68 per unit, lagging the Zacks Consensus Estimate of $2.16 by 22.22%.
Zacks Rank
Ferrellgas Partners currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market. Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020. Click here for the 6 trades >>