Suburban Propane Partners ( (SPH) ) has released its Q3 earnings. Here is a breakdown of the information Suburban Propane Partners presented to its investors.
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Suburban Propane Partners, L.P., a publicly traded master limited partnership based in Whippany, New Jersey, is a nationwide distributor of propane, renewable propane, renewable natural gas, fuel oil, and related products and services, serving approximately 1 million customers across 42 states.
Suburban Propane Partners reported its third-quarter earnings for fiscal 2025, revealing a net loss of $14.8 million, or $0.23 per Common Unit, an improvement from the $17.2 million loss in the same quarter of the previous year. Despite the seasonal nature of the business and warmer-than-normal temperatures, the company maintained steady financial performance, with Adjusted EBITDA remaining flat at $27.0 million compared to the prior year.
Key financial highlights include retail propane sales of 71.9 million gallons, consistent with the previous year, and a total gross margin of $160.6 million. The company successfully reduced its debt by $69 million, utilizing excess cash flows and proceeds from its At-the-Market sales program. However, the renewable natural gas operations faced challenges with slightly reduced average daily injection rates and lower revenues due to decreased prices for environmental attributes.
Looking ahead, Suburban Propane remains focused on enhancing its renewable natural gas operations and advancing capital projects, including the construction of an anaerobic digester system in New York and gas upgrade equipment in Ohio. The company continues to prioritize customer service and operational efficiency, while strategically managing its financial position to support growth initiatives.