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Ferrellgas Partners (FGP) Reports Wider-Than-Expected Q4 Loss

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Ferrellgas Partners LP  reported fourth-quarter fiscal 2017 adjusted loss of 57 cents per unit,widerthan the Zacks Consensus Estimate loss of 45 cents by 26.7%. Quarterly loss was 77.3% narrower than the year-ago loss of $2.51 per unit.

Total Revenue

In the reported quarter, Ferrellgas Partners’ total revenuescame in at $433.4 million, beating the Zacks Consensus Estimate of $427 million by 1.5%.

On a year-over-year basis, the partnership’s top-line improved 5.8% primarily owing to better contribution from Propane and other gas liquids sales, meanwhile Midstream operations and the Other segment decreased1.9% and 4.6%, respectively.

Highlights of the Release

In the reported quarter, nearly 148 million gallons of Propane were sold compared with 143.8 million gallons in the prior-year quarter.

Operating expenses in the reported quarter were $109.5 million, down 1.6% from the prior-year level.

General and administrative expenses for the quarter increased 10.1% to $13.1 million from $11.9 million in the prior-year period.

Interest expenses increased to $40.4 million in the quarter from $35 million a year ago, reflecting an increase of 15.4%.

Ferrellgas Partners, L.P. Price, Consensus and EPS Surprise

Financial Position

Ferrellgas Partners’ cash and cash equivalents were $5.8 million as of Jul 31, 2017, compared with $4.9 million as of Jul 31, 2016.

Long-term debt was $1,995.8 million as of Jul 31, 2017, up from $1,941.3 million as of Jul 31, 2016.

Upcoming Peer Releases

Boardwalk Pipeline Partners L.P. is expected to report third-quarter 2017 results on Oct 30. The Zacks Consensus Estimate is currently pegged at 25 cents.

Genesis Energy LP (GEL - Free Report) is expected to report third-quarter 2017 results on Nov 2. The Zacks Consensus Estimate is currently pegged at 17 cents.

AmeriGas Partners, L.P. is expected to report fourth-quarter fiscal 2017 results on Nov 8. The Zacks Consensus Estimate is currently pegged at a loss of 58 cents.

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.

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