Suburban Propane Partners Lp Stock Earnings Reports

Suburban Propane reported a strong start to fiscal 2026 driven by colder-than-typical weather across much of the Eastern U.S., which increased heat-related demand. Retail propane volumes rose 4.2% year-over-year to 110.2 million gallons. Adjusted EBITDA (excluding commodity mark-to-market) increased 10.8% to $83.4 million. Wholesale propane prices were lower year-over-year (average $0.66/gal), and U.S. inventories remain elevated. RNG (renewable natural gas) operations showed sequential and year-over-year improvement: Stanfield uptime and conversion increased, commissioning began at a new New York anaerobic digester, and Columbus gas upgrade work progressed; RNG injection is expected to start in the second half of the fiscal year. Capital spending for the quarter totaled $19.8 million (about $6.8 million for RNG); full-year RNG capex remains $30–35 million. The partnership refinanced 2027 senior notes with attractive 10-year debt and continues disciplined growth investments, including $24 million for two California propane acquisitions. Leverage improved (TTM consolidated ratio 4.57x vs. 4.99x prior year). The Board declared a quarterly distribution of $0.0325/unit (annualized $1.30), with distribution coverage at 2.19x. Management emphasized operational readiness, employee performance during severe weather, a focus on balance sheet strength, and continued execution on growth and low‑carbon fuel initiatives.