logo
  Join        Login             Stock Quote

Ferrellgas (FGP) 1Q Loss Narrows, Revenue Lags Estimates

 December 10, 2012 07:27 AM
 


(By Balachander) Ferrellgas Partners L.P. (NYSE: FGP) posted a narrower loss and weaker-than-forecast quarterly revenue amid lower wholesale propane prices.

The Overland Park, Kansas-based propane distributor lost $17.66 million or 22 cents per unit for the first quarter. In the year-ago quarter, FGP reported a loss of $32.28 million or 42 cents per unit.

Revenue declined 33 percent to $362.9 million. Total propane gallons sales fell 8.6 percent.

Wall Street analysts, on average, expected FGP to lose 28 cents per unit on revenue drop of 15.60 percent to $454.3 million.

Adjusted EBITDA nearly doubled to $31.61 million from $16.37 million.

[Related -Ferrellgas Partners (FGP) Buys IGS Propane From Connecticut's Industrial Gas & Supply]

Cost of product sold declined 46 percent.

"Fiscal 2013 is off to an encouraging start, with the positive momentum of fiscal 2012's fourth quarter carrying over into the first quarter," commented CEO Steve Wambold.

Looking forward for 2013, Ferrellgas forecasts adjusted EBITDA in the range of $240 million to $260 million.

The stock, which has been trading between $13.35 and $21.85 over the past year, closed Friday's regular trading at $17.65.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageOld Bank's New Breakout has Big Rally Potential

One of my favorite things to see in a long candidate is a pattern of beating Wall Street's earnings read on...

article imageIs The Stock Market's 5-Year Return A Useful Proxy For Valuation?

Tobin’s Q, a market-valuation metric, is back in the news, in part thanks to a widely read Bloomberg read on...

article image4 Dogs To Sell Immediately

Despite the chorus of analysts and investors calling for the long-awaited correction, the market is showing read on...

article imageThe Fed's Magical Mystery Tour

What's going on at the Fed? Notorious dove, Charles Evans of the Chicago Fed, gave a speech in read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.