Suburban Propane Partners LP (Suburban Propane Partners LP) Operating Income : $204 Mil (TTM As of Mar. 2024)

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What is Suburban Propane Partners LP Operating Income?

Suburban Propane Partners LP's Operating Income for the three months ended in Mar. 2024 was $137 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2024 was $204 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Suburban Propane Partners LP's Operating Income for the three months ended in Mar. 2024 was $137 Mil. Suburban Propane Partners LP's Revenue for the three months ended in Mar. 2024 was $498 Mil. Therefore, Suburban Propane Partners LP's Operating Margin % for the quarter that ended in Mar. 2024 was 27.48%.

Good Sign:

Suburban Propane Partners LP operating margin is expanding. Margin expansion is usually a good sign.

Suburban Propane Partners LP's 5-Year average Growth Rate for Operating Margin % was 4.70% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Suburban Propane Partners LP's annualized ROC % for the quarter that ended in Mar. 2024 was 23.53%. Suburban Propane Partners LP's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2024 was 66.83%.

Suburban Propane Partners LP Operating Income Historical Data

The historical data trend for Suburban Propane Partners LP's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Suburban Propane Partners LP Operating Income Chart

Suburban Propane Partners LP Annual Data

Trend

Sep14

Sep15

Sep16

Sep17

Sep18

Sep19

Sep20

Sep21

Sep22

Sep23

Operating Income

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150.85

140.27

213.24

206.33

206.85

Suburban Propane Partners LP Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Operating Income	Get a 7-Day Free Trial															125.68	14.87	3.99	48.75	136.86

Suburban Propane Partners LP Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Mar. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was $204 Mil.

Suburban Propane Partners LP (NYSE:SPH) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Suburban Propane Partners LP's annualized ROC % for the quarter that ended in Mar. 2024 is calculated as:

	ROC % (Q: Mar. 2024 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Dec. 2023 )	+	Invested Capital (Q: Mar. 2024 ))	/ count )
=	547.44 * ( 1 - 0.03% )	/	( (2335.316	+	2316.175)	/ 2 )
=	547.275768	/	2325.7455
=	23.53 %

where

	Invested Capital		(Q: Dec. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	2319.603	-	72.219	-	( 6.28	-	max(0, 309.573	-	221.641	+	6.28	))
=	2335.316

	Invested Capital		(Q: Mar. 2024 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	2337.546	-	52.428	-	( 4.42	-	max(0, 257.175	-	226.118	+	4.42	))
=	2316.175

Note: The Operating Income data used here is four times the quarterly (Mar. 2024) data.

2. Joel Greenblatt's definition of Return on Capital:

Suburban Propane Partners LP's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2024 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Mar. 2024 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Dec. 2023		Q: Mar. 2024
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	525.804	/	( ( (781.489 + max(-60.741, 0))	+	(792.168 + max(-0.32799999999999, 0)) )	/	2 )
=	525.804	/	( ( 781.489	+	792.168 )	/	2 )
=	525.804	/	786.8285
=	66.83 %

where Working Capital is:

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(118.737	+	60.97	+	35.654)	-	(72.219	+	112.195	+	91.688)
=	-60.741

	Working Capital		(Q: Mar. 2024 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(122.989	+	57.962	+	40.747)	-	(52.428	+	72.663	+	96.935)
=	-0.32799999999999

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2024) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Suburban Propane Partners LP's Operating Margin % for the quarter that ended in Mar. 2024 is calculated as:

Operating Margin %	=	Operating Income (Q: Mar. 2024 )	/	Revenue (Q: Mar. 2024 )
	=	136.86	/	498.087
	=	27.48 %

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.

Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.

Suburban Propane Partners LP Operating Income Related Terms

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Suburban Propane Partners LP (Suburban Propane Partners LP) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Utilities » Utilities - Regulated » Suburban Propane Partners LP (NYSE:SPH) » Definitions » Operating Income

Comparable Companies

Traded in Other Exchanges

N/A

Address

240 Route 10 West, P.O. Box 206, Whippany, NJ, USA, 07981

Website

https://www.suburbanpropane.com

Suburban Propane Partners LP distributes propane, fuel oil, and other refined fuels to customers in the East Coast and West Coast regions of the United States. Other operations include natural gas and electricity marketing in the deregulated New York and Pennsylvania markets. The company operates in three segments: Propane; Fuel Oil and Refined Fuels; and Natural Gas and Electricity. It generates maximum revenue from Propane segment.

Executives

Michael A Stivala	officer: Controller	C/O SUBURBAN PROPANE PARTNERS LP, P O BOX 206, WHIPPANY NJ 07981
Douglas Brinkworth	officer: Vice President, Product Supply	C/O SUBURBAN PROPANE PARTERS, L.P., 240 ROUTE 10 WEST, WHIPPANY NJ 07981
Nandini Sankara	officer: VP Mark. & Brand Strategy	240 ROUTE 10 WEST, WHIPPANY NJ 07981
Samuel Hodges	officer: Vice President-Area Operations	240 ROUTE 10 WEST, WHIPPANY NJ 07981
Brent Stubbs	officer: VP - Area Operations	240 ROUTE 10 WEST, WHIPPANY NJ 07981
Alejandro Centeno	officer: VP, Operations	240 ROUTE 10 WEST, WHIPPANY NJ 07981
Logan Harold R Jr	director
Rommel Oates	director	240 ROUTE 10 WEST, WHIPPANY NJ 07981
Amy Adams	director	240 ROUTE 10 WEST, WHIPPANY NJ 07981
Michael A Schueler	officer: Vice President-Product Supply	C/O SUBURBAN PROPANE, 240 ROUTE 10 WEST, WHIPPANY NJ 07981
Bryon L Koepke	officer: VP,Gen.Counsel & Secretary	240 ROUTE 10 WEST, WHIPPANY NJ 07981
Dee Arthur Tate	officer: Vice President-Area Operations	240 ROUTE 10 WEST, WHIPPANY NJ 07981-0206
Daniel W. Boyd	officer: Vice President-Area Operations	240 ROUTE 10 WEST, WHIPANNY NJ 07981-0206
Gregory L. Boyd	officer: Vice President-Area Operations	240 ROUTE 10 WEST, WHIPPANY NJ 07981-0206
Francesca Cleffi	officer: Vice President,Human Resources	C/O SUBURBAN PROPANE PARTNERS, L.P., 240 ROUTE 10 WEST, WHIPPANY NJ 07981-0206