SEC Filing Summary: Suburban Propane Partners, L.P.
Business Context and Reporting Period
This Form 8-K, filed on August 4, 2022, reports the Fiscal 2022 Third 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 quarter.
Key Financial Metrics
The filing text itself 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 document explicitly defines the following non-GAAP measures used in the full report:
- 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, and natural gas and electricity businesses is largely dependent on the difference between retail sales price and product cost, implying sensitivity to commodity price fluctuations.
Guidance, Outlook, and Risks
The filing does not include specific forward-looking guidance or management commentary within the text provided. It highlights that the partnership uses non-GAAP measures to help investors evaluate operating results and understand the impact of commodity prices on profitability. No specific risks or contingencies are detailed in this excerpt beyond the general business model dependency on commodity spreads.
Investor Verification Checklist
- Review Exhibit 99.1 (Press Release) for specific Fiscal 2022 Third Quarter revenue, EBITDA, and Adjusted EBITDA figures.
- Verify the reconciliation of non-GAAP measures (EBITDA and Adjusted EBITDA) to the most directly comparable GAAP financial measures.
- Assess the impact of commodity price volatility on the reported gross margins.
- Confirm the specific details of derivative instrument mark-to-market activity affecting Adjusted EBITDA.