Ferrellgas Partners delivered second-quarter fiscal 2019 adjusted earnings of 44 cents per unit, which missed the Zacks Consensus Estimate of 57 cents by 22.8%. The partnership incurred a loss of 2 cents in the prior-year quarter.
Total Revenues
In the quarter under review, Ferrellgas Partners’ total revenues amounted to $573.4 million, which lagged the Zacks Consensus Estimate of $605 million by 5.2%. Also, the top line declined 24% from $755.2 million in the prior-year quarter.
Revenues fell 7% year over year in the Propane and other gas liquids sales segments and plunged 49% in the Other segment.
Highlights of the Release
In the reported quarter, nearly 309.7 million gallons of propane were sold, down from 310 million gallons in the prior-year quarter. Customer base increased 4% year over year. The partnership’s current Blue Rhino tank exchange sales locations totaled in excess of 53,700, up more than 10% from levels in the beginning of fiscal 2018.
Total Retail propane sales volume increased approximately 2% in the quarter under review.
Operating expenses amounted to $121.2 million, down from $123.7 million in the prior-year quarter.
General and administrative expenses amounted to $16.3 million, up from $14.8 million in the prior-year quarter.
Interest expenses were $44.8 million, up from $42.7 million in the prior-year quarter.
The partnership continues to expand operations through acquisitions. It completed five accretive acquisitions of Blue Rhino independent distributors on a year-to-date basis.
Financial Position
Ferrellgas Partners’ cash and cash equivalents were $40.6 million as of Jan 31, 2019 compared with $119.3 million as of Jul 31, 2018.
Long-term debt was $2,081 million as of Dec 31, 2019 compared with $2,078.6 million as of Jul 31, 2018.
Zacks Rank
Ferrellgas Partners currently carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Oils-Energy Releases
Murphy Oil Corporation (MUR - Free Report) delivered fourth-quarter 2018 adjusted earnings of 31 cents per share, which beat the Zacks Consensus Estimate of 26 cents by 19.2%.
CNX Resources Corporation (CNX - Free Report) delivered adjusted earnings of 67 cents per share in fourth-quarter 2018, which beat the Zacks Consensus Estimate of 28 cents by 139.3%.
Anadarko Petroleum Corporation’s fourth-quarter 2018 adjusted earnings of 38 cents per share missed the Zacks Consensus Estimate of 57 cents by 33.33%.
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Ferrellgas Partners delivered second-quarter fiscal 2019 adjusted earnings of 44 cents per unit, which missed the Zacks Consensus Estimate of 57 cents by 22.8%. The partnership incurred a loss of 2 cents in the prior-year quarter.
Total Revenues
In the quarter under review, Ferrellgas Partners’ total revenues amounted to $573.4 million, which lagged the Zacks Consensus Estimate of $605 million by 5.2%. Also, the top line declined 24% from $755.2 million in the prior-year quarter.
Revenues fell 7% year over year in the Propane and other gas liquids sales segments and plunged 49% in the Other segment.
Highlights of the Release
In the reported quarter, nearly 309.7 million gallons of propane were sold, down from 310 million gallons in the prior-year quarter. Customer base increased 4% year over year. The partnership’s current Blue Rhino tank exchange sales locations totaled in excess of 53,700, up more than 10% from levels in the beginning of fiscal 2018.
Total Retail propane sales volume increased approximately 2% in the quarter under review.
Operating expenses amounted to $121.2 million, down from $123.7 million in the prior-year quarter.
General and administrative expenses amounted to $16.3 million, up from $14.8 million in the prior-year quarter.
Interest expenses were $44.8 million, up from $42.7 million in the prior-year quarter.
The partnership continues to expand operations through acquisitions. It completed five accretive acquisitions of Blue Rhino independent distributors on a year-to-date basis.
Financial Position
Ferrellgas Partners’ cash and cash equivalents were $40.6 million as of Jan 31, 2019 compared with $119.3 million as of Jul 31, 2018.
Long-term debt was $2,081 million as of Dec 31, 2019 compared with $2,078.6 million as of Jul 31, 2018.
Zacks Rank
Ferrellgas Partners currently carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Oils-Energy Releases
Murphy Oil Corporation (MUR - Free Report) delivered fourth-quarter 2018 adjusted earnings of 31 cents per share, which beat the Zacks Consensus Estimate of 26 cents by 19.2%.
CNX Resources Corporation (CNX - Free Report) delivered adjusted earnings of 67 cents per share in fourth-quarter 2018, which beat the Zacks Consensus Estimate of 28 cents by 139.3%.
Anadarko Petroleum Corporation’s fourth-quarter 2018 adjusted earnings of 38 cents per share missed the Zacks Consensus Estimate of 57 cents by 33.33%.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2018, while the S&P 500 gained +15.8%, five of our screens returned +38.0%, +61.3%, +61.6%, +68.1%, and +98.3%.
This outperformance has not just been a recent phenomenon. From 2000 – 2018, while the S&P averaged +4.8% per year, our top strategies averaged up to +56.2% per year.
See their latest picks free >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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