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 Partners LP reported second-quarter fiscal 2018 adjusted earnings of 49 cents per unit, missing the Zacks Consensus Estimate of 61 cents by 19.7%.
Including non-cash charges, the company reported loss of 2 cents in second-quarter fiscal 2018, compared to the year-ago quarter’s earnings of 39 cents.
Total Revenues
In the reported quarter, Ferrellgas Partners’ total revenues were $755.1 million, beating the Zacks Consensus Estimate of $713 million by 5.9%. The top line also improved 30.4% from $579.2 million in the prior-year quarter.
The partnership’s revenues improved primarily on the back of higher sales from all segments — Midstream operations, Propane and other gas liquids and Other. Notably, Propane and other gas liquids sales improved 35.4%, while Midstream operations’ sales rose 21.2%. The Other segment posted a sales increase of 1.2%.
Ferrellgas Partners, L.P. Price, Consensus and EPS Surprise
In the reported quarter, nearly 310 million gallons of Propane were sold compared with 267.7 million gallons in the prior-year quarter. The company’s customer base increased 1% year over year, following an addition of 8,700 customers.
Operating expenses in the reported quarter were $123.7 million, up 9.96% from $112.5 million in the prior-year quarter.
General and administrative expenses for the quarter under review were $14.9 million, up from $11.4 million in the prior-year quarter.
Interest expenses were $42.7 million in the quarter, up from $36.8 million in the year-ago quarter.
In the quarter under review, the company completed divesture of two non-core assets.
Financial Position
Ferrellgas Partners’ cash and cash equivalents were $14.2 million as of Jan 31, 2018, compared with $5.8 million as of Jul 31, 2017.
Long-term debt was $1,811.6 million as of Jan 31, 2018, down from $1,995.8 million as of Jul 31, 2017.
Peer Releases
Investors can consider other stocks from the same sector that have already released quarterly results.
Apache Corp. (APA - Free Report) reported fourth-quarter 2017 adjusted earnings per share of 33 cents that beat the Zacks Consensus Estimate of 21 cents. It carries a Zacks Rank #3 (Hold).
Anadarko Petroleum Corp. reported fourth-quarter 2017 earnings of 18 cents per share, beating the Zacks Consensus Estimate of 3 cents. It carries a Zacks Rank #3.
Zacks Rank
Ferrellgas Partners currently carries a Zacks Rank #3.
Don’t Even Think About Buying Bitcoin Until You Read This
The most popular cryptocurrency skyrocketed last year, giving some investors the chance to bank 20X returns or even more. Those gains, however, came with serious volatility and risk. Bitcoin sank 25% or more 3 times in 2017.
Zacks’ has just released a new Special Report to help readers capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly. See 4 crypto-related stocks now >>
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Ferrellgas Partners (FGP) Misses Q2 Earnings Estimates
Ferrellgas Partners LP reported second-quarter fiscal 2018 adjusted earnings of 49 cents per unit, missing the Zacks Consensus Estimate of 61 cents by 19.7%.
Including non-cash charges, the company reported loss of 2 cents in second-quarter fiscal 2018, compared to the year-ago quarter’s earnings of 39 cents.
Total Revenues
In the reported quarter, Ferrellgas Partners’ total revenues were $755.1 million, beating the Zacks Consensus Estimate of $713 million by 5.9%. The top line also improved 30.4% from $579.2 million in the prior-year quarter.
The partnership’s revenues improved primarily on the back of higher sales from all segments — Midstream operations, Propane and other gas liquids and Other. Notably, Propane and other gas liquids sales improved 35.4%, while Midstream operations’ sales rose 21.2%. The Other segment posted a sales increase of 1.2%.
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, nearly 310 million gallons of Propane were sold compared with 267.7 million gallons in the prior-year quarter. The company’s customer base increased 1% year over year, following an addition of 8,700 customers.
Operating expenses in the reported quarter were $123.7 million, up 9.96% from $112.5 million in the prior-year quarter.
General and administrative expenses for the quarter under review were $14.9 million, up from $11.4 million in the prior-year quarter.
Interest expenses were $42.7 million in the quarter, up from $36.8 million in the year-ago quarter.
In the quarter under review, the company completed divesture of two non-core assets.
Financial Position
Ferrellgas Partners’ cash and cash equivalents were $14.2 million as of Jan 31, 2018, compared with $5.8 million as of Jul 31, 2017.
Long-term debt was $1,811.6 million as of Jan 31, 2018, down from $1,995.8 million as of Jul 31, 2017.
Peer Releases
Investors can consider other stocks from the same sector that have already released quarterly results.
ConocoPhillips (COP - Free Report) reported fourth-quarter 2017 adjusted earnings of 45 cents per share, in line with the Zacks Consensus Estimate. It sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Apache Corp. (APA - Free Report) reported fourth-quarter 2017 adjusted earnings per share of 33 cents that beat the Zacks Consensus Estimate of 21 cents. It carries a Zacks Rank #3 (Hold).
Anadarko Petroleum Corp. reported fourth-quarter 2017 earnings of 18 cents per share, beating the Zacks Consensus Estimate of 3 cents. It carries a Zacks Rank #3.
Zacks Rank
Ferrellgas Partners currently carries a Zacks Rank #3.
Don’t Even Think About Buying Bitcoin Until You Read This
The most popular cryptocurrency skyrocketed last year, giving some investors the chance to bank 20X returns or even more. Those gains, however, came with serious volatility and risk. Bitcoin sank 25% or more 3 times in 2017.
Zacks’ has just released a new Special Report to help readers capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.
See 4 crypto-related stocks now >>