Ferrellgas Partners LP (FGP - Free Report) reported fourth-quarter fiscal 2019 adjusted loss of 72 cents per unit, which is wider than the Zacks Consensus Estimate of a loss of 64 cents. The quarterly figure is wider than the year-ago quarter’s loss.
In the reported quarter, Ferrellgas Partners’ total revenues amounted to $279.1 million, which declined 19.6% from $347.5 million in the prior-year quarter. The downside was primarily caused by lower contribution from the Propane and other gas liquids segment as well as in the other segment.
The partnership’s total revenues in fiscal 2019 totaled $1,684.4 million compared with $2,073.1 million generated in fiscal 2018.
Highlights of the Release
In the reported quarter, nearly 152.4 million gallons of propane were sold compared with148.1 million gallons in the prior-year quarter. In fiscal 2019, nearly 904.8 million gallons of propane were sold, up 3.1% from 877.1 million gallons sold in fiscal 2018.
Customer base increased 4% year over year. The partnership’s current Blue Rhino tank exchange sales locations exceeded 55,000, up 3% on a year-over-year basis.
Operating expenses amounted $117.3 million, down 3% from $121 million in the prior-year quarter.
General and administrative expenses amounted to $17.9 million, up from $14.6 million in the prior-year quarter.
Interest expenses were $44.7 million compared with $44.6 million in the prior-year quarter.
Ferrellgas Partners’ cash and cash equivalents were $11 million as of Jul 31, 2019 compared with $119.3 million as of Jul 31, 2018.
Long-term debt was $1,457 million as of Jul 31 compared with $2,078.6 million as of Jul 31, 2018.
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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