SEC Filing Summary: Suburban Propane Partners, L.P.
Business Context and Reporting Period
This Form 8-K, dated February 2, 2006, reports the Fiscal 2006 First Quarter financial results for Suburban Propane Partners, L.P. The filing serves to disseminate a press release (Exhibit 99.1) detailing the company'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 attached press release (Exhibit 99.1) as the source for these figures. The company highlights the use of EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) as a key non-GAAP measure to assess liquidity and debt service capabilities.
Material Changes and Non-GAAP Measures
The company explicitly discusses the exclusion of unrealized (non-cash) gains from mark-to-market activity on derivative instruments (under SFAS No. 133) when calculating adjusted net income and EBITDA. These adjustments are intended to facilitate year-over-year comparisons of cash flows and evaluate the ability to meet debt obligations and pay distributions. Specific quantitative changes versus the prior period are not detailed in this text.
Guidance, Outlook, and Risks
The filing notes that the company's revolving credit agreement requires the use of EBITDA to calculate leverage and interest coverage ratios. No specific forward-looking guidance, management commentary on future risks, or details on contingencies are provided within the body of this 8-K text; such information is contained in the referenced press release.
Investor Verification Checklist
- Review Exhibit 99.1 (Press Release) for specific revenue, net income, and EBITDA figures for Fiscal Q1 2006.
- Verify the reconciliation of EBITDA to cash flow from operating activities provided in the press release.
- Assess the magnitude of unrealized gains/losses on derivative instruments excluded from non-GAAP measures.
- Confirm current leverage and interest coverage ratios against the requirements of the revolving credit agreement.