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Ferrellgas Partners L.P. Common Units Reports Operating Results (10-Q)

June 09, 2010 | About:

Ferrellgas Partners L.P. Common Units (NYSE:FGP) filed Quarterly Report for the period ended 2010-04-30.

Ferrellgas Partners L.p. Common Units has a market cap of $1.57 billion; its shares were traded at around $22.65 with a P/E ratio of 31.9 and P/S ratio of 0.8. The dividend yield of Ferrellgas Partners L.p. Common Units stocks is 8.8%.

Highlight of Business Operations:

· because Ferrellgas Partners has outstanding $34.1 million in aggregate principal amount of 8.75% senior notes due fiscal 2012 and $280.0 million in aggregate principal amount of 8.625% senior notes due fiscal 2020, the two partnerships incur different amounts of interest expense on their outstanding indebtedness; see the statements of earnings in their respective condensed consolidated financial statements and Note E Debt in the respective notes to their condensed consolidated financial statements; and

Retail sales increased $32.9 million compared to the prior year period. This increase resulted primarily from a $23.0 million increase in sales price per gallon primarily due to the increased wholesale market pricing environment and $10.7 million from gallons gained through acquisitions completed during the last twelve months, both as discussed above.

Wholesale sales increased $13.9 million compared to the prior year period. This increase resulted primarily from a $7.2 million increase due to greater propane sales volumes and a $6.8 million increase in sales price per gallon, both as discussed above.

Other gas sales increased $27.3 million compared to the prior year period. This increase resulted primarily from a $14.7 million increase due to greater propane sales volumes and a $12.1 million increase in sales price per gallon.

Retail sales gross margin increased $12.8 million compared to the prior year period. This increase resulted primarily from a $9.2 million increase in gross margin per gallon primarily due to our ability to expand margins despite the increased wholesale market pricing environment and $3.5 million from gallons gained through acquisitions as discussed above.

Gross margin Other increased $4.6 million compared to the prior year period. This increase resulted primarily due to a $6.6 million increase in miscellaneous fees, somewhat offset by a $2.2 million decrease in propane appliance sales.

Read the The complete Report

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10qk
Charlie Tian, Ph.D. - Founder of GuruFocus. You can now pre-order his book Invest Like a Guru on Amazon.

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