SEC Filing Summary: Suburban Propane Partners, L.P.
Business Context and Reporting Period
This Form 8-K, filed on August 3, 2023, reports the Fiscal 2023 Third Quarter financial results for Suburban Propane Partners, L.P. (NYSE: SPH). The filing serves as a current report to disseminate a press release detailing the partnership's operating performance for the quarter ended July 31, 2023.
Key Financial Metrics
The filing text 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.
Guidance, Outlook, and Risks
The filing does not include specific guidance, outlook, or risk factors within the text provided. It emphasizes that the non-GAAP measures are provided to help investors evaluate operating results and understand the impact of commodity prices on profitability. The full details of the results and any associated commentary are contained in the referenced Press Release.
Investor Verification Checklist
- Review Exhibit 99.1 (Press Release) for specific revenue, EBITDA, and Adjusted EBITDA figures.
- Verify the specific impact of commodity price fluctuations on gross margins as detailed in the press release.
- Confirm the reconciliation of non-GAAP measures to GAAP net income in the attached exhibit.
- Check for any updates on derivative instrument mark-to-market activity affecting Adjusted EBITDA.