Suburban Propane Partners, L.P. Announces Full Year and Fourth Quarter Results

Core Insights - Suburban Propane Partners, L.P. reported a net income of $106.6 million for fiscal year 2025, an increase from $74.2 million in fiscal 2024, translating to earnings of $1.64 per Common Unit compared to $1.15 per Common Unit in the previous year [2][3] - Adjusted EBITDA for fiscal 2025 rose by 11.2% to $278.0 million, up from $250.0 million in fiscal 2024, driven by strong propane demand and effective margin management [2][3] Fiscal Year 2025 Results - Retail propane gallons sold reached 400.5 million, marking a 5.9% increase year-over-year, primarily due to cold weather and increased demand following Hurricanes Helene and Milton [5] - Average propane prices increased by 5.8% compared to the prior year, contributing to total gross margins of $868.8 million, which rose by $63.8 million or 7.9% [5] - Operating and general administrative expenses totaled $590.5 million, an increase of 4.2% from the previous year, mainly due to higher payroll and technology transformation costs [6] Fourth Quarter Results - The net loss for the fourth quarter of fiscal 2025 was $35.1 million, an improvement from a loss of $44.6 million in the same quarter of fiscal 2024 [7] - Retail propane gallons sold in the fourth quarter were 60.8 million, a 1.8% increase compared to the prior year [7] - The Board declared a quarterly distribution of $0.325 per Common Unit, equating to an annualized rate of $1.30 per Common Unit [7] Strategic Initiatives - The company acquired a propane business in New Mexico and Arizona for approximately $53.0 million and further invested in California with two acquisitions totaling $24.0 million [4] - A multi-year technology modernization initiative was launched to enhance operational efficiency and customer service [4] - The company expanded its renewable natural gas operations and continued capital projects for anaerobic digestion facilities [4]