Ferrellgas Partners, L.P. reported financial results for the first quarter of fiscal year 2026, showing a positive start with operational improvements and successful refinancing.
The company completed significant financing transactions in October 2025, strengthening its balance sheet and providing financial flexibility for growth.
Despite a decrease in wholesale propane prices, retail sales increased, especially to residential and agricultural customers.
Financial Strength and Flexibility
Completed financing transactions including redeeming $650.0 million Senior Notes and issuing new Senior Notes due 2031, enhancing financial flexibility.
Operational Efficiency
Focus on telematics, routing optimization, and safety programs led to confident preparation for the winter heating season and the fiscal year ahead.
Revenue and Margin Performance
Margin per gallon increased by 6% while revenue decreased by 2%, offset by a cost of product decrease of 5% in the first fiscal quarter of 2026.
- Adjusted EBITDA decreased by $6.5 million (18%) primarily due to increased operating and general administrative expenses.
- Operational highlights showed improved sales performance, customer retention, and strategic initiatives for capturing on-demand customers.
Ferrellgas Partners, L.P. is strategically positioned for growth and efficiency in fiscal year 2026, backed by operational improvements and financial flexibility. The company's focus on customer service and market strategies bode well for future success.