Ferrellgas Partners (FGPR) 17 Dec 212022 Q1 Earnings call transcript

Good day, and thank you for standing by. Welcome to the fiscal 2022 Q1 earnings call. [Operator Instructions] Please be advised that today's conference is being recorded. And without further ado, I would now like to hand the conference over to one of your speakers today, Mr. Jim Ferrell. sir. ahead, go Please

good earnings Welcome call and Quarter the Fiscal XXXX of morning, you, to everyone. First Thank Ferrellgas.

running, things call, the Some ahead of remarks. few well Tamria so say of I at Operating our in about how Zertuche, of questions to we have is the end why a Officer, time that well. will the done you we but will our have so want if about continue we submitted to I to Chief more not allow address company talk perform

are begun dashboards ago We building our was X off appear to was of very and over metrics technology platform what implemented. when as modern years began

far accelerated All like when before. virtually the of to never we this nip management flung hit together crisis and COVID were able

of not more the learning became core, XX and accountability business. last at responded. has and people responsibility months, how a that transformation continued about be the about Over proud could course of our they its have organization, our teaching Tamria I

the now will to Tamria. floor I over turn

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

quarter discuss the the purpose XXXX. for the for call ended results fiscal October operations of XX, note to is first we that Additionally, this

same containment operating $XX.X the gallons strategic by excellence quarter. last to of represents continued performance period which at operational more operating quarter. expenses The the the year. of XX% of income driven the This company's compared company The efficiently, continued million to led was demonstrated for of an increase initiative first during strong delivering

prior These first Margin prior were of gallon $X.XX profit increase the a quarter the for resulted year total period. fiscal year $XX.X the operating or than higher of X.X% by This million lower the than higher period. as per an revenue in than XX% increased year to expenses gross percentage or period. approximately prior X.X% quarter

The company's continued continues excellence operational fundamentals and implementation logistics to profitability. emphasis and increase on efficiency management leadership, expense development, of and

or $XX.X per For A quarter, million year loss attributable Ferrellgas Class was $X.XX the unit to to first net million unit. $X.XX or Partners, A Class of loss the net L.P. compared prior per $X.X quarter

by quarter. Adjusted non-GAAP XX% EBITDA, increased a measure, compared to $X.X year million or prior

$XX.X State. For first New was Island, $XX.X in the compared and the Long Washington areas in to family on foundation located its first quarter. employee newest and StarLite, owners acquisitions welcomed adjusted quarter. Northern acquisition EBITDA our years strengthen The to in will continues positioning year's come. York, These to strengthen million million Ferrellgas Ferrellgas to grow. our quarter, growth last Cascades of those in for

leader to the tank continues Rhino Blue market exchange. Additionally, be in

across with by in we continued in in and company's States. partnership through ways bringing its partnership Operation families past commitment winter great X began this During Warm, areas service with coats work the back. live to the support Ferrellgas employees to need they communities quarter, and serve. represents The warmth the Ferrellgas United giving the

our a contributing management while success, to to performance. also be continues Our program development

excellence an host opportunity candidates fourth for leadership we in its in initiative provides in and of Now beginning second operations management. February. logistics leadership, year, This the will class

propane to new As consumer consumers built we mark tenured that FUEL a clean have data was we company continue on a evolve a base, to acquired This LIFE into technology-enabled providing logistics mark, shows fuel service a SIMPLY. value customer simplicity. desirable

will branding grow new story Our Ferrellgas help stands of company preference is for. telling that for what consumer this the our while expectation

have that to questions provide the transparency, a received address days. take effort an will few we more In last over first will several the we question. Jim

minimize tell here question always answer all leaving I add the planned a And a address I I'm on. we pretty one can our simple. that that will resigned, CFO is search. B you. Also whether we formulated units the to about about a There in question hadn't organization. the a we to have have about and is That's strategy dilution. going to eventual to begin He

We financial the repayment B plan, units. the long-term have of which a includes

dilution As employee As. possible for it's owners, the least ensure in the to our interest

leverage. the best to continue our We solution decrease to analyze will

that Second answer for question environment overview current and M&A the to of I'm strategy an acquisitions? is going can provide you your

suitable an environment We'll about The in created strategically focus to has current continue small selling. acquisitions. for businesses interested economy carefully,

Our of scale. be our will meet that network opportunities economies focus leverage will our and on standards, create

the why explain last company's commodity doubled you Can has in year? hedge position the

price cash balance bought Plus primarily one about the our best the XX% volume. in us estimated sales And is That giving accounting Platinum over see have increases is backs exchange we total hedge, fixed our It's what of speculative our not on a Plus you way, for Platinum program. the the mark-to-market the by of at. the business, for sheet up position.

for is our customers, we're focus us the are about that there new Well, we allocation. actively And make acquiring the money. growth customers what plans capital on area And will allocation? capital

Our high-performing marketplace. is sales the team winning in

anticipate We continued M&A. also in success

questions. to you're to the Now Tamria, last to over Tamria it I'm answer hand up. going few

the count, the that seen next decline? decline what's Thank consecutive Ferrellgas year-over-year -- X has you, Ferrellgas retail quarters of has question Jim. driving is in customer

delivery that timing our time out. The gallons right move we deliveries, efficient, does very be look to of

been through very allowed more has our to strategic intentional customer our management that us have move about gallons we asset Additionally, base. current

sustainable trend margin The next is how question is current of improvement? Ferrellgas'

retention in of then the success. of excellence and base aspects this customer management areas our of the all employee on a employee We for our have our foundation consistent or business service, our continued shown base is improvement in cost and and focus solid

our the call, via this call now turn I the any I'm as at end our before additional to Investor going questions is to for of you. questions. That e-mail be Relations moderator, announcement submitted may our back Thank mentioned box investorrelations@ferrellgas.com. but do that, the in

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

may You disconnect. by. Presenters, now please stand