Overview

* Suburban Propane ( SPH ) Q3 revenue missed analyst expectations, adjusted EBITDA beat estimates

* Net loss for fiscal Q3 improved to $14.8 mln, compared to $17.2 mln last year

* Co reduced debt by $69 mln using cash flows and ATM program proceeds

Outlook

* Company focuses on increasing RNG injection at Arizona facility

* Suburban advancing capital projects in New York and Ohio

Result Drivers

* WARM TEMPERATURES - Unseasonably warm temperatures impacted propane demand, per CEO Michael A. Stivala

* DEBT REDUCTION - Co used excess cash flows and at-the-market (ATM) program proceeds to reduce debt by $69 mln

* RNG CHALLENGES - Lower prices for environmental attributes under Renewable Fuel Standard impacted renewable natural gas revenues

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Miss $260.20 $270 mln

Revenue mln (1

Analyst)

Q3 EPS -$0.23

Q3 Net -$14.84

Income mln

Q3 Beat $27.02 $27 mln

Adjusted mln (1

EBITDA Analyst)

Q3 $23.02

EBITDA mln

Q3 $5.59

Operatin mln

g Income

Q3 -$14.59

Pretax mln

Profit

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", no "hold" and 1 "sell" or "strong sell"

* The average consensus recommendation for the oil & gas refining and marketing peer group is "buy"

* Wall Street's median 12-month price target for Suburban Propane Partners LP ( SPH ) is $17.00, about 5.4% below its August 6 closing price of $17.92

* The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 13 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)