Suburban Propane Partners, L.P. Earnings Recaps
Q1 2026
Feb 5, 2026
Suburban Propane Partners, L.P. reported a robust first quarter for fiscal 2026, achieving a 10.8% increase in adjusted EBITDA driven by heightened heat-related demand and customer growth initiatives.
Key takeaways
- Adjusted EBITDA rose to $83.4 million, up $8.1 million from the previous year, reflecting solid operational performance.
- Retail propane sales increased by 4.2% year-over-year, totaling 110.2 million gallons, bolstered by colder weather in key markets.
- Continued advancements in renewable natural gas (RNG) operations, with average daily RNG injections increasing due to enhancements at the Stanfield facility and progress on new projects.
- The company invested nearly $7 billion in growth capital expenditures during the quarter and is strategically refinancing 2027 senior notes to strengthen financial flexibility.
- Strong balance sheet maintained amid disciplined investment strategy, paving the way for future growth opportunities.
Q4 2025
Nov 13, 2025
Suburban Propane Partners delivered strong fiscal 2025 results with nearly 6% growth in propane volumes and an 11.2% increase in adjusted EBITDA, driven by effective margin management and strategic acquisitions.
Key takeaways
- Propane volumes increased nearly 6% year-over-year, bolstered by normal winter weather and post-hurricane demand.
- Adjusted EBITDA rose by $28 million, reflecting successful margin management in a rising commodity price environment.
- The company completed acquisitions totaling approximately $77 million, expanding its market presence in New Mexico, Arizona, and California.
- Launched an at-the-market equity program, raising $23.5 million to support growth initiatives and debt reduction.
- Improved leverage ratio to 4.29 times, a solid reduction from 4.76 times in the previous year, enhancing financial stability.