Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended December 27, 2025 ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File Number: 1-14222 SUBURBAN PROPANE PARTNERS, L.P. (Exact name of registrant as specified in its charter) (State or other jurisdiction of (I.R.S. Employer Delaware 22-34 ...

Financial Data and Key Metrics Changes - For Q1 2026, the company reported an Adjusted EBITDA of $83.4 million, an increase of $8.1 million or nearly 11% compared to the prior year [7][10] - Net income for the first quarter was $46.6 million, compared to $38 million or $0.59 per common unit in the prior year [10] - Total gross margin for the first quarter was $238.6 million, an increase of $16.1 million or 7.2% year-over-year [12] Business Line Data and Key Metrics Changes - Retail propane gallons sold totaled 100 million, reflecting a 4.2% increase compared to the prior year [10] - The renewable natural gas (RNG) operations saw an increase in average daily RNG injection, driven by operational enhancements at the Stanfield, Arizona facility [8] Market Data and Key Metrics Changes - Average wholesale propane prices per gallon were in the $0.60 range, down from $0.90 a year ago [12] - Propane inventories were reported at 89 million barrels, which is 34% above historical averages for this time of year [12] Company Strategy and Development Direction - The company is focused on long-term strategic growth plans, including the acquisition of two propane businesses in California and progressing capital projects to grow RNG production [9] - The company is investing nearly $7 million in RNG projects and refinancing its 2027 senior notes to maintain balance sheet strength and flexibility [9] Management's Comments on Operating Environment and Future Outlook - Management noted that colder weather in northern territories drove heat-related demand, contributing to the increase in volume sold [6] - The company remains committed to growing its core propane business while also expanding into alternative, lower carbon, renewable fuels [17] Other Important Information - The Board of Supervisors declared a quarterly distribution of $0.325 per common unit, equating to an annualized rate of $1.30 per common unit [16] - The company borrowed $115.4 million under its revolving credit facility to fund seasonal working capital needs [14] Q&A Session Summary - There were no questions during the Q&A session, and the call concluded without any inquiries from participants [18][20]

Suburban Propane Partners (NYSE:SPH) Q1 2026 Earnings call February 05, 2026 09:00 AM ET Company ParticipantsDavin D'Ambrosio - VP and TreasurerMike Kuglin - CFOMike Stivala - PresidentOperatorThank you for standing by. My name is Tina, and I will be your conference operator today. At this time, I would like to welcome everyone to the [Golub Capital BBC] Earnings Call. All lines-Mike StivalaTina, it's Suburban.OperatorI apologize. I apologize. Suburban Propane Partners, L.P. Financial Call. All lines have b ...

Suburban Propane Partners (NYSE:SPH) Q1 2026 Earnings call February 05, 2026 09:00 AM ET Speaker3Thank you for standing by. My name is Tina, and I will be your conference operator today. At this time, I would like to welcome everyone to the Suburban Propane Partners earnings call. All lines-Speaker1Tina, it's Suburban.Speaker3I apologize. I apologize. Suburban Propane Partners, L.P. financial call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be ...

Michael A. Stivala: Thanks, Davin, and good morning. I apologize for the confusion from the operator. You are listening to the Suburban Propane Partners, L.P. first quarter earnings conference call. So thanks for joining us today. The fiscal 2026 heating season is off to a great start with a surge of colder weather in our Northeast, Mid-Atlantic, and Midwest operating territories during November, and more importantly, December 2025, that drove heat-related demand which more than offset warmer average temper ...

Exhibit 99.1 Net income for the first quarter of fiscal 2026 was $45.8 million, or $0.69 per Common Unit, compared to net income of $19.4 million, or $0.30 per Common Unit, for the first quarter of fiscal 2025. Adjusted earnings before interest, taxes, depreciation, and amortization (Adjusted EBITDA, as defined and reconciled below) for the first quarter of fiscal 2026 improved $8.1 million, or 10.8%, to $83.4 million, compared to the prior year first quarter. In announcing these results, President and Chie ...

Core Insights - Suburban Propane Partners, L.P. reported a significant increase in net income for the first quarter of fiscal 2026, reaching $45.8 million, or $0.69 per Common Unit, compared to $19.4 million, or $0.30 per Common Unit, in the same period of fiscal 2025 [2][3] - The company experienced a 10.8% increase in Adjusted EBITDA, amounting to $83.4 million, driven by higher volumes sold and effective management of selling prices and expenses [2][3][4] Financial Performance - Net income for Q1 fiscal 2026 was $45.8 million, a 136% increase from $19.4 million in Q1 fiscal 2025 [2][16] - Adjusted EBITDA improved by $8.1 million, or 10.8%, from the previous year [2][4] - Total gross margin increased by $13.4 million, or 5.9%, to $239.5 million, with a notable increase in propane unit margins of $0.08 per gallon, or 4.1% [4][16] Operational Highlights - Retail propane gallons sold reached 110.2 million, a 4.2% increase compared to the prior year, attributed to colder temperatures and recent acquisitions [3][4] - Average temperatures during the quarter were 6% warmer than normal but 6% cooler than the previous year, impacting heat-related demand [3][4] Strategic Developments - The company acquired two propane businesses in California for $24.0 million, enhancing its market presence [8] - A new anaerobic digester facility in Upstate New York is in the commissioning process, and construction of gas upgrade equipment in Columbus, Ohio is progressing [3][8] Debt Management - Suburban Propane refinanced $350.0 million of senior notes, extending debt maturities by nearly three years and improving financial flexibility [6][7] - The Consolidated Leverage Ratio improved to 4.57x from 4.99x year-over-year, indicating better debt management [8] Distribution Information - The Board of Supervisors declared a quarterly distribution of $0.325 per Common Unit, equating to an annualized rate of $1.30 per Common Unit, payable on February 10, 2026 [9]

Suburban Propane Partners, L.P. (NYSE:SPH) is one of the stocks Jim Cramer was recently asked about. Calling it a “core dividend stock,” a caller sought Cramer’s take on it. In response, he said: No, propane is way too wild. Rusty Braziel told me that a long time ago, from RBN… let’s not mess with propane. It’s just too inconsistent. Stock market data. Photo by Jakub Zerdzicki on Pexels Suburban Propane Partners, L.P. (NYSE:SPH) distributes fuels including propane, fuel oil, and natural gas. Additiona ...

Suburban Propane Partners, L.P. ("Suburban Propane") is a publicly traded master limited partnership listed on the New York Stock Exchange. Headquartered in Whippany, New Jersey, Suburban Propane has been in the customer service business since 1928 and is a nationwide distributor of propane, renewable propane, renewable natural gas ("RNG"), fuel oil and related products and services, as well as a marketer of natural gas and electricity and producer of and investor in low carbon alternatives, servicing the e ...

Core Viewpoint - Suburban Propane Partners, L.P. has successfully completed a $350 million offering of 6.500% Senior Notes due 2035, aimed at refinancing existing debt and enhancing financial flexibility [1][2]. Group 1: Financial Details - The net proceeds from the offering, after estimated expenses, amounted to approximately $344.3 million, which will be utilized to redeem all of the Issuers' 5.875% senior notes due 2027 and cover related fees [2]. - A conditional notice of redemption for the 2027 Senior Notes was sent on December 8, 2025, with the redemption scheduled for January 7, 2026 [2]. Group 2: Company Overview - Suburban Propane is a publicly traded master limited partnership listed on the NYSE, headquartered in Whippany, New Jersey, and has been in operation since 1928 [4]. - The company distributes propane, renewable propane, renewable natural gas, fuel oil, and related products, serving approximately 1 million customers across 42 states through around 750 locations [4]. Group 3: Company Values and Initiatives - Suburban Propane is built on three core pillars: a commitment to excellence in customer service, dedication to community support, and promotion of low-carbon energy solutions [5].