SEC Filing Summary: Suburban Propane Partners, L.P.
Business Context and Reporting Period
This Form 8-K, dated November 17, 2005, reports the Fiscal 2005 Fourth Quarter and Year-End financial results for Suburban Propane Partners, L.P. The filing serves to disseminate a press release (Exhibit 99.1) containing detailed operational and financial data.
Key Financial Metrics
The filing text itself does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. These figures are contained within the attached Press Release (Exhibit 99.1). The company highlights the use of non-GAAP financial measures, specifically EBITDA and net income excluding unrealized mark-to-market gains/losses on derivative instruments (SFAS No. 133), to assist investors in assessing liquidity and debt service capabilities.
Material Changes
The filing text does not explicitly detail material changes versus prior periods. It notes that the attached press release provides a reconciliation of EBITDA to cash flow from operating activities to facilitate year-over-year comparisons.
Guidance, Outlook, and Risks
Management commentary focuses on the utility of non-GAAP measures for evaluating the ability to meet debt service obligations and pay quarterly distributions. The filing references the company's revolving credit agreement, which utilizes EBITDA for calculating leverage and interest coverage ratios. No specific forward-looking guidance or new risk factors are detailed in the body of this 8-K; such information is referenced as being in the attached press release.
Investor Verification Checklist
- Review Exhibit 99.1 (Press Release) for specific Q4 and full-year 2005 revenue, net income, and EBITDA figures.
- Verify the reconciliation of EBITDA to GAAP cash flow provided in the press release.
- Assess the impact of unrealized mark-to-market gains/losses on derivative instruments on reported net income.
- Confirm current leverage and interest coverage ratios against the requirements of the revolving credit agreement.