Earnings Review and Free Research Report: Ferrellgas Reported Q3 FY17 Earnings Results

LONDON, UK / ACCESSWIRE / June 29, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Ferrellgas Partners, L.P. (NYSE: FGP), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=FGP, following the Company’s posting of its financial results for the third quarter fiscal 2017 (Q3 FY17) on June 09, 2017. The Overland Park, Kansas-based Company’s total revenue grew on a year-over-year basis. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member’s account at: http://protraderdaily.com/register/.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on FGP. With the links below you can directly download the report of your stock of interest free of charge at: http://protraderdaily.com/optin/?symbol=FGP.

Earnings Reviewed

In Q3 FY17, Ferrellgas total revenue increased to $538.11 million from $509.47 million recorded at the end of Q3 FY16. However, total revenue numbers for Q3 FY17 lagged behind market consensus estimates of $573 million.

Ferrellgas reported common unit-holders’ interest in net earnings of $6.47 million, or $0.07 per diluted common unit-holders’ interest, in Q3 FY17 compared to common unit-holders’ interest in net earnings of $18.50 million, or $0.19 per diluted common unit-holders’ interest, in Q3 FY16. Wall Street had estimated the Company to report net earnings of $0.10 per common unit-holders’ interest.

Operating Metrics

During the reported quarter, the Company reported gross profit of $201.05 million compared to $244.16 million in the prior year’s same period. Ferrellgas’ operating expense was down to $104.77 million from $115.14 million in the previous year’s same quarter. For Q3 FY17, general and administrative expense came in at $9.98 million versus $12.35 million in Q3 FY16. Furthermore, the Company’s operating income for Q3 FY17 was $46.20 million compared to $54.22 million reported in the prior quarter.

For Q3 FY17, the Company’s EBITDA was $71.94 million compared to $92.67 million in last year’s corresponding quarter. Furthermore, the Company’s adjusted EBITDA fell to $76.79 million in Q3 FY17 from $107.99 million in Q3 FY16, primarily due to decreased contributions from the midstream operations segment.

Revenue Segmentation

The Company’s Propane and other gas liquids sales came in at $369.44 million in Q3 FY17 compared to $338.93 million in the prior year’s same quarter. Propane gallons sales for Q3 FY17 were 212.22 million gallons compared to 223.36 million a year ago. Operating income from propane operations and related equipment sales segment came in at $67.12 million in Q3 FY17 compared to $78.72 million in the previous year’s same period. Furthermore, the segment’s adjusted EBITDA for the reported quarter came in at $86.99 million versus $96.34 million in Q3 FY16.

Ferrellgas’ revenues from Midstream operations increased to $126.68 million in Q3 FY17 from $105.42 million in Q3 FY16. The segment reported operating loss of $5.70 million in Q3 FY17 compared to operating loss of $0.76 million in Q3 FY16. The segment posted negative EBITDA of $0.55 million in Q3 FY17 against positive EBITDA of $23.33 million in Q3 FY16.

Cash Flow and Balance Sheet

During the nine months ended April 30, 2017, net cash provided by operating activities was $118.33 million compared to $220.08 million in the last year’s comparable period. As on April 30, 2017, the Company had cash and cash equivalents balance of $9.51 million compared to $4.97 million as on July 31, 2016. Furthermore, the Company reported long-term debt amounting to $1.98 billion as on April 30, 2017, versus $1.94 billion as on July 31, 2016. Furthermore, the Company’s consolidated leverage ratio stood at 6.45 times at the end of the reported quarter, which was lower than the 7.75 times limit allowed under the recently amended secured credit facility.
Stock Performance

At the close of trading session on Wednesday, June 28, 2017, Ferrellgas Partners’ stock price slipped 1.02% to end the day at $4.83. A total volume of 190.79 thousand shares were exchanged during the session. The Company’s shares have a dividend yield of 8.28%. At Wednesday’s closing price, the stock’s net capitalization stands at $471.21 million.

Pro-Trader Daily:

Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the ”Author”) and is fact checked and reviewed by a third party research service company (the ”Reviewer”) represented by a credentialed financial analyst, for further information on analyst credentials, please email contact@protraderdaily.com. Rohit Tuli, a CFA® charterholder (the ”Sponsor”), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you’re a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: contact@protraderdaily.com

Phone number: (917) 341.4653

Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Pro-Trader Daily

ReleaseID: 467076