UPDATE: Ferrellgas Partners Posts Downbeat FQ3 Earnings

Ferrellgas Partners LP FGP reported a rise in its fiscal third-quarter earnings. Ferrellgas Partners reported its quarterly earnings of $45.4 million, or $0.57 per unit, versus a year-ago profit of $44.7 million, or $0.56 per unit. Its revenue climbed to $722.1 million, while propane and other gas liquid sales jumped 23% to $625.1 million. However, analysts were expecting a profit of $0.66 per unit on revenue of $747 million. Its gross margin shrank to 31.9% from 37%, while costs for propane and other fuels gained 34%. The company's press release offered the following comment from Chief Executive Steve Wambold: "I am extremely pleased with the way our propane operations team performed during what proved to be a very challenging quarter." Ferrellgas Partners shares rose 1.60% to close at $26.71 on Friday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: EarningsNewsprofit
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!