Business Context and Reporting Period
Company: Suburban Propane Partners, L.P.
Filing Type: Form 8-K (Current Report)
Date of Report: August 9, 2018
Subject: Issuance of a press release describing Fiscal 2018 Third Quarter Financial Results.
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. The filing references the following non-GAAP measures defined in the attached press release (Exhibit 99.1):
- 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 (noted as a non-GAAP measure because cost of products sold excludes depreciation and amortization).
Note: Specific values for these metrics are not provided in the text of this 8-K filing.
Material Changes
The filing text does not provide specific comparative data or quantify material changes versus the prior comparable period. It states 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.
Guidance, Outlook, and Management Commentary
Management Commentary: Management provides non-GAAP financial measures (EBITDA, Adjusted EBITDA, and Gross Margins) to assist the investment community and industry analysts in evaluating operating performance and understanding the impact of commodity prices on profitability.
Guidance and Risks: No specific forward-looking guidance, risk factors, or contingencies are detailed within the text of this specific 8-K filing. Investors are directed to the attached press release for detailed results.
Important Facts for Investor Verification
- Verify the specific Fiscal 2018 Third Quarter financial results in the attached Press Release (Exhibit 99.1), as this 8-K contains only a summary notification.
- Review the reconciliation of non-GAAP measures (EBITDA, Adjusted EBITDA, and Gross Margins) to GAAP financial measures in the press release.
- Assess the impact of commodity price fluctuations on the company's gross margins as described in the management commentary.