Business Context and Reporting Period
Company: Suburban Propane Partners, L.P.
Filing Type: Form 8-K (Current Report)
Date of Report: February 4, 2021
Reporting Period: Fiscal 2021 First Quarter
Business Overview: The registrant operates in the retail propane, fuel oil, natural gas, and electricity sectors. Profitability is largely dependent on the spread between retail sales prices and product costs.
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 within the text provided. The actual figures are contained in the attached Press Release (Exhibit 99.1).
Non-GAAP Measures Referenced:
- 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 (excludes depreciation and amortization).
Material Changes
The filing text does not provide specific comparative data or quantify material changes versus the prior comparable period. It only confirms the issuance of results for the Fiscal 2021 First Quarter.
Guidance, Outlook, and Management Commentary
Management Commentary: Management utilizes the referenced non-GAAP measures (EBITDA, Adjusted EBITDA, and Gross Margins) to provide the investment community with supplemental measures of operating performance. These metrics are intended to help investors evaluate operating results and understand the impact of commodity prices on profitability.
Guidance and Risks: The filing text does not contain specific forward-looking guidance, risk factors, or contingencies beyond the general statement regarding commodity price dependency.
Investor Verification Checklist
- Review Exhibit 99.1 (Press Release) for specific numerical values regarding revenue, EBITDA, and Adjusted EBITDA for the Fiscal 2021 First Quarter.
- Verify the reconciliation of non-GAAP measures (EBITDA and Adjusted EBITDA) to the most directly comparable GAAP financial measures as presented in the Press Release.
- Confirm the specific gross margin percentages and the impact of commodity price fluctuations on the quarter's profitability.
- Check for any updates on debt levels or liquidity positions in the full press release, as these are not detailed in the 8-K summary text.