Ferrellgas Partners (NYSE:FGP) delivered third-quarter fiscal 2019 adjusted earnings of 21 cents per unit, which beat the Zacks Consensus Estimate of 14 cents by 50%. The partnership generated earnings of 11 cents in the prior-year quarter.
Total Revenues
In the quarter, Ferrellgas Partners’ total revenues amounted to $480 million, down 7% from $516 million in the prior-year quarter.
Ferrellgas Partners, L.P. Price, Consensus and EPS Surprise
Ferrellgas Partners, L.P. price-consensus-eps-surprise-chart | Ferrellgas Partners, L.P. Quote
Highlights of the Release
In the reported quarter, nearly 264.1 million gallons of propane were sold, up 7% from 246.3 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 54,300, up more than 6% from prior-year quarter’s levels.
Total Retail propane sales volume increased approximately 8% andgross margin dollars increased nearly 7% in the quarter under review. Results improved from the prior-year quarter’s figures, courtesy of colder-than-normal weather.
Operating expenses amounted to $120 million, up from $116.5 million in the prior-year quarter.
General and administrative expenses amounted to $11.5 million compared with $11.6 million in the prior-year quarter.
Interest expenses were $44.2 million, up from $40.4 million in the prior-year quarter.
Financial Position
Ferrellgas Partners’ cash and cash equivalents were $45.4 million as of Apr 30, 2019 compared with $119.3 million as of Jul 31, 2018.
Long-term debt was $2,084.5 million as of Arp 30, 2019 compared with $2,078.6 million as of Jul 31, 2018.
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.
Oils-Energy Releases
Murphy Oil Corporation (NYSE:MUR) delivered first-quarter 2019 adjusted earnings of 15 cents per share, which beat the Zacks Consensus Estimate of 10 cents by 50%.
Anadarko Petroleum Corporation (NYSE:APC) generated first-quarter 2019 adjusted earnings of 53 cents per share, which beat the Zacks Consensus Estimate of 30 cents by 76.67%.
Devon Energy Corp (NYSE:DVN) generated first-quarter 2019 adjusted earnings per share of 36 cents, which surpassed the Zacks Consensus Estimate of 30 cents by 20%.
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Ferrellgas Partners, L.P. (FGP): Free Stock Analysis Report
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