NEW YORK (Thomson Financial) - Ferrellgas Partners L.P. reported fiscal
third-quarter net earnings of $35.2 million, or 55 cents a unit, down from $43.7
million, or 69 cents a unit in the same period a year ago.
The mean estimate of analysts surveyed by Thomson Reuters are for earnings
of 68 cents a share.
The company attributed the decline in earnings pressure on margins and
customer conservations as a result of higher propane costs. Propane sales volume
fell to 262 million gallons from 271 million gallons a year ago.
Revenue for the quarter ending April 30 rose 14% to $712.1 million from last
year's $624.2 million, compared with analyst forecasts of $666.6 million,
boosted by higher wholesale propane commodity prices and additional fee income.
Shares of the Overland Park, Kan. propane distributor closed Thursday at
$21.75.
Tomi Kilgore
tk1
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