Ferrellgas Partners (FGPR) 22 Jun 212021 Q3 Earnings call transcript

Ladies and gentlemen, thank you for standing by. And welcome to the Third Quarter Fiscal 2021 Earnings Call for Ferrellgas Partners, L.P. At this time, all participants’ lines are in a listen-only mode. Please be advised that today’s conference is being recorded. [Operator Instructions] I would now like to hand the conference over to your speaker today, Jim Ferrell. ahead, go Please you sir. Thank

as for behalf welcome Good showing increasingly a we primary completed reason company earnings has CEO the work, transform Ferrellgas practices and are On quarter continues sound I complicated more want how financial be The the My morning. that of who It strong name proud this of company. sheet pride the the And one a to call. achieve. I’m is third and performance men continue our short say into to restructurings to to due operating company. we technology-enabled Jim make ever. we ourselves the is of the balance time logistics to the since been women Ferrell we only

We to much were owns remind on intend that flourish all I sizable we and about are company more and owners a are portions future ESOP successful. that that. make expensive who that to ESOP financial aware keenly based of ESOP still wanted we that our performance, something our hard very we units common refinancing that do people you The than unitholders. will portion of the work able our to the are so of restore common distribution to once will

to happen it when incentives that is do make have adequate so. to So we all right

Officer. then I you the Operating X% Interim own commons. In turn Zertuche, will of myself Herrmann, now Tamria our over to hand fact, our you I will CFO, who to Chief over Brian

for actual differ Commission. the from our discussed the like other to some remind various XXXX third earnings all and from factors of and XX-K Jim, These during performance. Exchange call. are and Form joining Securities call statements and filed time-to-time Thank be this performance materially made with our you, that in may anticipated factors could Thank considered all to you you to cause I’d us. and forward-looking, quarter uncertainties other risks documents welcome

was additional fiscal higher expenses the results sales and last to XXXX. of gallon gallons million call XXXX. that in were and ended million contributing response -- a million a per and attributable colder XXXX, $XX.X of growing propane a strong XX.X% for than that markets and shifted quarter. increased margin strategies, gross note than right that The exceptionally the chain our April tank Rhino deliveries the prior Also million this customer growth exchange performance a quarter continued usage. of X% due quarter, increase base. gallon. marketing strategies X.X%, for of XX.X platforms, we quarter product decreasing marketing to or share Margin the a the time marketing in to year increase discuss in or prior increase per produced continued higher backyard year an than further quarter nominal market in Blue increase was sold outdoor in is to appliance third while year gallon continuing analytics delivery sound to and company national last performance fiscal and operations results strong in or volumes, to growth penetration, improved quarter. in to X% Additionally, the million, strong strategic The purpose year $XX.X operating the gallons logistics income leading our the increase. compared $X.XX to third fiscal or XXX.X supply strategies quarter, the quarter the company’s for weather XXX.X resulted X.X% placement, to has XX, dollars strategies, year efficiency use XX% This prior Highlighting quarter over of prior or operating

a driving quarter on third leaner strength technology-centric as technology-enabled a throughout work-from-home field workers and workers to a agile more in travel well logistics workplace from by is the transition company, expense essential execution company. continues performance corporate Successful propane-only workforce Ferrellgas’ a essential performing various as in a and as company. high demonstrate high Strong customer-centric corporate being We of the and The throughout as the environment locations. general expenses, focus to decreased administrative company. both

to to continued to and of the health while customers, ever our new and adapting Lastly, operating serving top commitment circumstances remains employees the customers over safety XXX,XXX our protocols our help and changing our priority. safely protect

prior or net $XXX.X Adjusted EBITDA, a non-GAAP to loss year’s year per on million the our million $XX.XX compared the was $XX.X of to million through extinguishment Partners compared of million to or per the primarily Ferrellgas attributable in compared by quarter. debt L.P. the attributable current transactions, loss as million For the to quarter restructuring successful common unit, or The loss XX.X% $XX.X unit. net common quarter. $XX.X to prior prior incurred $XX.X is quarter, loss increased quarter year third $X.XX measure,

compared the initiatives. last million the quarter For adjusted resulting $XXX.X year’s $XX.X was quarter EBITDA from to third million, in discussed previously

the previously Ferrellgas from Corp. Partners bankruptcy announced, Partners Finance emerged XXXX. XX, on and As March Ferrellgas

our balance hand and financial about growth. like our this leverage will We are company. Officer extremely restructuring sheet sheet. exciting the I’d to emergence Operating footing At developments Chief our we We Tamria Zertuche, over to transactions excited several solid in that and call now other balance our time, discuss future that our for the recapitalized have to

you, Thank Brian.

and exchange businesses Our to continue retail tank grow.

impacted our have strategically base added with We our density. that customer to locations new route positively

first leadership pipeline and third a country. having lies the operations and Ferrellgas positions to Program in team employees placed create the keys the Development across in Program. quarter. country We Mentorship of our for last operations year and a Management in XX diverse Management class to throughout strong provide created the a our success to our proudly Development graduates high from performing We management the One

first and largest class just class, recently second day the the was our Our yet. yesterday, third marked placed, of

areas our in questions the as while new Relations position moderator. a University serve additional development These develop continued influx BBQ Ferrell work storm relief will Thank of Ferrellgas launched ourselves current of States. I call Southern to United be our do box InvestorRelations@ferrellgas.com. to together talent provide at employees. for providing e-mail program initiatives. our now to continually before in successful will further you. programs partner to also call, better impacted that submitted mentioned a to strategic Ferrellgas with But execution to this our I to professional turn for also that, the via Operation Investor as any the may We announcement our people, back

concludes Ladies call. you conference Thank participating. for gentlemen, today’s this and

You may now disconnect.