FGPR - Ferrellgas Partners surges on FQ1 results

Propane supplier Ferrellgas Partners (OTCPK:FGPR +8.5%) is trading higher after the company announced its fiscal first quarter results. Total revenues grew 31.1% Y/Y to $394.51M. The company narrowed its losses, incurring a net loss of $8.6M, or $5.25 per Class A Unit, during the quarter, compared with net loss of $46.1M, or $9.39 per Class A Unit, in the prior year period. Operating income increased by 60% Y/Y, driven by cost management, which led to continued margin performance. Overall gallon performance contributed to an increase in gross profit of $10.8M, or 6.7%, higher than the prior year period. Furthermore, adjusted EBITDA increased to $37.3M vs. $33.9M in the prior year period. Earnings press release

For further details see:

Ferrellgas Partners surges on FQ1 results