Quarterly ResultMay 7, 2026, 08:17 AM
Suburban Propane Q2 Net Income $137.5M; Adjusted EBITDA $175.3M
AI Summary
Suburban Propane Partners reported a slight increase in net income to $137.5 million for its fiscal 2026 second quarter, with Adjusted EBITDA remaining flat at $175.3 million compared to the prior year. The company successfully managed operations despite varied weather patterns and commodity market volatility, while also reducing total debt by over $64 million. Significant progress was made in renewable natural gas (RNG) operations, including stabilizing production, growing RNG injection, and recognizing $3.5 million in production tax credits.
Key Highlights
- Q2 fiscal 2026 net income was $137.5 million, up from $137.1 million YoY.
- Q2 fiscal 2026 Adjusted EBITDA was $175.3 million, flat vs. $175.0 million YoY.
- Retail propane gallons sold were 161.6 million, slightly down from 162.0 million YoY.
- Total gross margin decreased 0.5% to $343.7 million, including a $1.4M unrealized loss.
- Repaid $64.3 million in borrowings, improving leverage ratio to 4.34x.
- Recognized $3.5 million from Production Tax Credits for D3 RNG injections.
- Declared a quarterly distribution of $0.325 per Common Unit.