Business Context and Reporting Period
Company: Suburban Propane Partners, L.P.
Filing Type: Form 8-K (Current Report)
Date: August 5, 2021
Subject: Announcement of Fiscal 2021 Third Quarter Financial Results.
Key Financial Metrics
The filing serves as a notification of the release of financial results but does not contain specific numerical data for revenue, profit, cash flow, margins, debt, or liquidity within the text provided. The document references the following non-GAAP measures defined in the attached press release (Exhibit 99.1):
- EBITDA: Net income before interest, taxes, depreciation, and amortization.
- Adjusted EBITDA: EBITDA excluding unrealized net gains/losses from mark-to-market derivative activity and certain other items.
- Gross Margins: Revenues less cost of products sold (noted as a non-GAAP measure as it excludes depreciation and amortization).
Note: Specific values for these metrics are not present in the filing text and must be sourced from 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 attached press release describes the Fiscal 2021 Third Quarter results.
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 prices and product costs. Consequently, the company utilizes gross margins to help investors understand the impact of commodity prices on profitability.
Non-GAAP Rationale: The company provides EBITDA, Adjusted EBITDA, and gross margins to offer supplemental measures of operating performance useful for evaluating results alongside GAAP figures.
Guidance and Risks: The filing text does not contain specific forward-looking guidance, risk factors, or contingencies beyond the general operational dependency on commodity pricing.
Investor Verification Checklist
- Review Exhibit 99.1 (Press Release) for specific numerical values regarding revenue, EBITDA, Adjusted EBITDA, and gross margins for the Fiscal 2021 Third Quarter.
- 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 as described in the full press release.
- Confirm if any specific debt covenants or liquidity positions were discussed in the attached press release, as they are not detailed in this 8-K summary text.