Business Context and Reporting Period
Company: Suburban Propane Partners, L.P.
Filing Type: Form 8-K (Current Report)
Date of Report: May 5, 2005
Reporting Period: Fiscal 2005 Second Quarter
This filing serves as a notification that the Company issued a press release on May 5, 2005, detailing its Fiscal 2005 Second Quarter financial results. The specific financial data is contained within the attached press release (Exhibit 99.1) and is not explicitly restated in the body of this 8-K form.
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 metrics as being detailed in the attached press release:
- EBITDA: Earnings before interest, taxes, depreciation, and amortization.
- Net Income: Reported net income and net income per Common Unit.
- Non-GAAP Adjustments: Adjustments excluding unrealized (non-cash) gains and losses from mark-to-market activity on derivative instruments (SFAS No. 133).
- Leverage and Coverage: EBITDA is used as a component for calculating leverage and interest coverage ratios required by debt agreements.
Material Changes
The filing text does not provide specific data regarding material changes versus the prior comparable period. It states that the Company provides non-GAAP measures to assist the investment community in assessing liquidity on a year-over-year basis and to facilitate the comparison of cash flows between periods.
Guidance, Outlook, and Management Commentary
Management Commentary: Management asserts that the non-GAAP financial measures provided in the press release assist investors and industry analysts in evaluating the Company's ability to meet debt service obligations and pay quarterly distributions. A reconciliation of EBITDA to cash flow provided by operating activities is included in the press release.
Risks and Contingencies: The filing does not explicitly list new risks or contingencies in the text provided, other than the standard disclosure that the information is not deemed "filed" for purposes of Section 18 of the Exchange Act unless expressly incorporated by reference.
Important Facts for Investor Verification
- Verify the specific Fiscal 2005 Second Quarter revenue, net income, and EBITDA figures in the attached Press Release (Exhibit 99.1), as they are not listed in this 8-K summary.
- Review the reconciliation of EBITDA to cash flow from operating activities to understand the impact of non-cash derivative mark-to-market adjustments.
- Confirm the Company's leverage and interest coverage ratios against debt agreement requirements using the EBITDA figures provided in the press release.
- Note that the financial data in the press release is considered "furnished" rather than "filed" for certain legal purposes under the Securities Act of 1934.