Business Context and Reporting Period
Company: Suburban Propane Partners, L.P.
Filing Type: Form 8-K (Current Report)
Date: November 15, 2018
Subject: Announcement of Fiscal 2018 Full Year and Fourth Quarter Financial Results.
Key Financial Metrics
This filing serves as a notification of the release of financial results and does not contain specific numerical data for revenue, profit, cash flow, margins, debt, or liquidity. The document references the following non-GAAP measures defined in the attached press release (Exhibit 99.1):
- EBITDA: Net income before deducting interest expense, income taxes, depreciation, and amortization.
- Adjusted EBITDA: EBITDA excluding unrealized net gain/loss from mark-to-market activity for derivative instruments and certain other items.
- Gross Margins: Computed as revenues less cost of products sold (noted as a non-GAAP measure because cost of products sold excludes depreciation and amortization).
Note: Specific values for these metrics are not present in the provided text; they are contained in the referenced Exhibit 99.1.
Material Changes
The filing text does not provide specific comparative data or quantify material changes versus the prior comparable period. It indicates that the full year and fourth-quarter results are detailed in the attached press release.
Guidance, Outlook, and Management Commentary
Management Commentary: Management states that profitability in the retail propane, fuel oil, natural gas, and electricity businesses is largely dependent on the difference between retail sales price and product cost. Consequently, gross margins are discussed to help investors understand the impact of commodity prices on profitability.
Guidance and Risks: The provided text does not contain specific forward-looking guidance, risk factors, or contingencies beyond the general business context regarding commodity price sensitivity.
Investor Verification Checklist
- Review Exhibit 99.1 (Press Release) for specific numerical values regarding Fiscal 2018 Full Year and Q4 revenue, net income, and EBITDA.
- Verify the reconciliation of GAAP net income to the non-GAAP measures (EBITDA and Adjusted EBITDA) presented in the press release.
- Confirm the specific gross margin percentages and the impact of commodity price fluctuations on the reported period.
- Check for any updates on debt levels or liquidity positions in the full press release, as they are not detailed in this 8-K summary text.