SEC Filing Summary: Suburban Propane Partners, L.P.
Business Context and Reporting Period
This Form 8-K, dated May 9, 2024, reports the Fiscal 2024 Second Quarter financial results for Suburban Propane Partners, L.P. The filing serves as a current report to disseminate a press release (Exhibit 99.1) detailing the partnership's operational performance for the period.
Key Financial Metrics
The filing text does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. It references the following non-GAAP measures defined in the attached press release:
- EBITDA: Net income before deducting interest expense, income taxes, depreciation, and amortization.
- Adjusted EBITDA: EBITDA excluding unrealized net gain or loss from mark-to-market activity for derivative instruments and certain other items.
- Gross Margins: Computed as revenues less cost of products sold (excluding depreciation and amortization).
Material Changes
The filing text does not contain specific data regarding material changes versus the prior comparable period. It notes that profitability in the retail propane, fuel oil, natural gas, and electricity businesses is largely dependent on the difference between retail sales prices and product costs.
Guidance, Outlook, and Risks
Management commentary emphasizes the use of non-GAAP measures to provide the investment community with supplemental measures of operating performance and to facilitate understanding of the impact of commodity prices on profitability. The filing does not include specific forward-looking guidance, risk factors, or contingencies within the text provided; these details are contained in the referenced Exhibit 99.1.
Investor Verification Checklist
- Review Exhibit 99.1 (Press Release) for specific Fiscal 2024 Second Quarter revenue, EBITDA, and Adjusted EBITDA figures.
- Verify the reconciliation of non-GAAP measures (EBITDA, Adjusted EBITDA, Gross Margins) to the most directly comparable GAAP financial measures.
- Assess the impact of commodity price fluctuations on the reported gross margins.
- Check for any updates to debt covenants or liquidity positions in the full press release.