Ferrellgas Partners (FGPR) 20 Oct 212021 Q4 Earnings call transcript

Good day and thank you for standing by. And welcome to the Fiscal 2021 Q4 Earnings Call. At this time, all participants are in a listen-only mode. Please be advised that today's conference is being recorded. [Operator Instructions]. to E. conference like speaker to now James today, would hand over the your I Executive and Chief Ferrell, Officer President. Please go ahead.

women of Thank all. you men representative My to this and X,XXX name is work. and Jim Ferrell, good who make morning company proud

the back most XX, the that ended in the company's As it at on one was I year look of remarkable July long history.

is very dashboards deal responded well understatement. easy, the into our metrics performance created proud during and amazing am ourselves an with not as a to of uncertainty I Learning technology, transformed Our financial results agile we extremely time especially company. employee a need this and our owners is to regarding new logistics balance our Saying high when future. restructure sheet like

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M&A we of reason transformation. but Tamria great report was Zertuche logistics performance. for in is With the will the Dhiraj restructure to And instrumental ops her restructuring. Tamria while an call the Operating is to other The fill let the not sheet, is now Officer. into Together, with organization. handing primary our Chief new in our come, after more our to over very exceptionally company and she were financial the an person Ferrellgas, our Cherian. architect balance transforming old modern I able is

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

X.X year. volumes, million to the in by same margin $XX.X $X.X the sales the gross sold Highlighting in increase ended in quarter in marketing marketing year into XX% were or gallon Additionally, operations this million strong and Also when quarter. operating to delivery has platforms. is gallons Rhino continued quarter for this to we July fiscal to quarter of for a note increase results prior-year fourth million year. XXX.X the fiscal quarter fourth due XXXX, Blue efficiency income of XXX gallons response propane of market leading and This shifted outdoor than X% on increased strategies in dollars continued the a appliance during discuss backyard of The continued to consumer quarter that for contributing compared compared that operating to decreased to a in deliveries the the performance expenses XX, further and million the penetration, call and resulted million strategies XXXX. exchange The purpose higher of share company's increase key time tank strong fiscal increase. to are growth the the national a company's or prior-year usage. quarter right last additional performance full

$X.XX million or measure, the $XX.X $XX.XX net A A attributable unit. L.P. Adjusted compared per a quarter. per Class Partners to the quarter, by million quarter, the EBITDA, Ferrellgas or was to loss For unit. decreased $X.X Class non-GAAP loss $XX prior-year prior-year million Compared net to or of the X.X%

For was the fourth EBITDA million in $XX.X million quarter, quarter. adjusted compared year's $XX.X to last

speak increased Ferrellgas $XX.X $XX.XX incurred year. to to compared compared million to decrease through was Adjusted XX% the For on Adjusted $XX.X in a of Class unit the million or fiscal our XX%. debt the million net successful by EBITDA, A to per net attributable measure, unit, $XX.X loss per compared fiscal of extinguishment fiscal And million non-GAAP Partners primarily prior year. $XXX.X or the as EBITDA operations. $XX.XX of the attributable loss Tamria to year, $XXX.X fiscal loss prior Class $XX.X of compared last to is the to million fiscal was in restructuring million hand or I million A our $XXX.X prior over to to will year's a The the year. year's transactions L.P. now, loss

The restructuring us growing to quarter underwent M&A. continue Dhiraj. we financial allowed by you, process has Thank third in the

During to July, in Proflame Ferrellgas Proflame we in added area Long Island, come. position will family. years this and to strengthen operations has the our for

businesses continue exchange tank to and grow. retail Our

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

lie delivery In United have employees and strong we to home a keys team operations success our across our across having The tank States. expanded exchange markets in country. operations XX our to the the addition,

Additionally, last development created management program continues to year thrive. our

fostered class five undergraduate chain, finance, with be graduating the The program third month, country last a quarter, supply candidates technology in XX-week which program. throughout and of XX an students worked Also, departments class the early from internship we during in across new marketing a XXXX. starting in will next

affected Relief most partnered storms we to provide Barbecue United during Operation by southern States. As we impacted to support last those those continue be with to months, areas in

last provide we to transparency, received that more an will few address effort over days. questions few section. In Next, a a Q&A the we

I nature, in first. those therefore operational will address are Some

down route propane density industry, right Jim Would next acquisition. utilization the to over utilization. fourth our restructuring with in last known decrease pass We continuing of are through leveraging this asset to due are pricing our technology-enabled growth improved push just for strategic And forecasting time attribute be considered next excellence to throughout deliveries we and question, acquire via operational this decrease times the Currently, measurement signs The delivery to The when fourth company. the better quarter point-in-time question, future first in propane be chain has recent us through participant hand speak for capital to capabilities, assets. question. to and No, logistics next quarter? to due decline disruptions, Improved acquisition expected wholesale of drove that question. seeing demand paired and destruction the high structure create year-over-year? The company propane formula good higher these long The supply activity. a pricing. pricing. What we will demand in areas of a asset in quarter look Ferrellgas to were our is discuss conservation pricing? a I an steel The destruction goals our acquisition to in in question. not to now through volumes to external strengthen the created We this successful mostly fourth The efficiencies higher in leader outlook you acquisition. market, why active the been customers allows measurement. this

XX-K. our on broker to Tamria. the program deposit XXXX $XX backstop the we has This for is This to fiscal position. price hedge speculative fixed heating million do The liability call margin is Thanks, Plus question the listed with Platinum not a discussing year season. a

do well expect expect experienced demand this to destruction. We company Let We me here not also run. say perform. that is and do

I'll the mentioned may But Investor to the at back Now submitted as investorrelations@ferrellgas.com. via email call, questions our additional that, announcement do our in be I turn any for Relations box the call before moderator.

call. Thank for of fiscal and you earnings are proud our forward calls. again, Goodbye. very positive much to we performance future our very look Once earnings all year-end attending

Thank call. participating. for you today's concludes This conference

disconnect. now You may