Ferrellgas Partners L.p Stock Earnings Reports

Ferrellgas reported a strong Q2 2026 driven by disciplined execution, operational efficiency and favorable cost dynamics. The board declared an $82.32 per Class B Unit cash distribution (~$107 million), which triggers the Class B conversion threshold; the board approved converting all 1.3 million Class B Units into Class A Units at a 5-for-1 ratio. Management says this step strengthens the capital structure, lowers cost of capital, and unlocks capacity to pursue growth (acquisitions, autogas, power generation). Financial highlights: gross profit rose ~$3 million (~1%) despite a ~22% decline in Mont Belvieu propane prices (revenue down ~$28M) because product cost fell more (~$31M). Adjusted EBITDA increased $9.1 million (≈6%) to $166.1 million; net earnings rose $3.3 million to $102.2 million. Margin per gallon improved ~6% and operating income per gallon increased ~13% due to fewer unproductive deliveries and improved efficiencies. Safety metrics improved (OSHA recordables down 10% QoQ; slips/trips/falls down ~4% YoY), supported by telematics and in-cab cameras integration. Other items: Eddystone litigation is closed and related payments completed; search for a new CFO is ongoing; management is monitoring geopolitical and tariff risks but believes prior hedging/positioning helps mitigate near-term impacts. Historically the company has generated substantial cash (noted payouts to Class B Units and Eddystone) while investing $70–$90 million annually in CapEx.