Ferrellgas Partners L.P. Common Units (FGP, Financial) filed Quarterly Report for the period ended 2012-10-31.
with and P/S ratio of 0.0903.
Wholesale sales decreased $39.3 million compared to the prior period. This decrease resulted primarily from $25.6 million of decreased sales price per gallon and by $13.7 million of decreased sales volumes, both as discussed above.
Retail sales gross margin increased $17.2 million compared to the prior year period. This increase resulted primarily from a $21.5 million increase in gross margin per gallon and $1.1 million from gallons gained through acquisitions completed during the last twelve months, partially offset by a $5.4 million decrease in propane sales volumes, each as discussed above.
Adjusted EBITDA increased $15.2 million compared to the prior year period primarily due to a $10.5 million increase in “Gross margin - Propane and other gas liquids sales” and a $3.0 million decrease in “Operating expense”, each as discussed above. General and administrative expenses remained unchanged primarily due to a $2.1 million reduction in personnel and other corporate costs offset by an increase of $0.6 million in non-cash stock based compensation charges and $0.6 million in performance based incentive expense.
Net cash used in investing activities was $9.4 million for the three months ended October 31, 2012, compared to net cash used in investing activities of $18.9 million for the prior year period. This decrease in net cash used in investing activities is primarily due to decreases of $5.0 million in capital expenditures and an increase of $3.4 million in “Proceeds from assets sales.” The decrease in capital expenditures relates primarily to decreased purchases of propane cylinders in our effort to better utilize existing assets. The increase in proceeds from assets sales relates primarily to a one-time sale of underutilized real estate assets.
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with and P/S ratio of 0.0903.
Highlight of Business Operations:
Retail sales decreased $75.7 million compared to the prior period. This decrease resulted primarily from a $58.7 million decrease in sales price per gallon and $19.6 million from decreased retail propane sales volumes, partially offset by $2.6 million from gallons gained through acquisitions completed during the last twelve months, as discussed above.Wholesale sales decreased $39.3 million compared to the prior period. This decrease resulted primarily from $25.6 million of decreased sales price per gallon and by $13.7 million of decreased sales volumes, both as discussed above.
Retail sales gross margin increased $17.2 million compared to the prior year period. This increase resulted primarily from a $21.5 million increase in gross margin per gallon and $1.1 million from gallons gained through acquisitions completed during the last twelve months, partially offset by a $5.4 million decrease in propane sales volumes, each as discussed above.
Adjusted EBITDA increased $15.2 million compared to the prior year period primarily due to a $10.5 million increase in “Gross margin - Propane and other gas liquids sales” and a $3.0 million decrease in “Operating expense”, each as discussed above. General and administrative expenses remained unchanged primarily due to a $2.1 million reduction in personnel and other corporate costs offset by an increase of $0.6 million in non-cash stock based compensation charges and $0.6 million in performance based incentive expense.
Net cash used in investing activities was $9.4 million for the three months ended October 31, 2012, compared to net cash used in investing activities of $18.9 million for the prior year period. This decrease in net cash used in investing activities is primarily due to decreases of $5.0 million in capital expenditures and an increase of $3.4 million in “Proceeds from assets sales.” The decrease in capital expenditures relates primarily to decreased purchases of propane cylinders in our effort to better utilize existing assets. The increase in proceeds from assets sales relates primarily to a one-time sale of underutilized real estate assets.
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