Ferrellgas Partners (FGPR) 10 Jun 222022 Q3 Earnings call transcript

Good day, everyone. Welcome to the Fiscal 2022 Q3 Earnings Call. Today’s conference is being recorded. At this time, I would like to turn the conference over to Mr. Jim Ferrell, Chief Executive Officer. sir. ahead, go Please

Ferrellgas. welcome Thank our My you Chief President Jim and ‘XX name quarter earnings Ferrell, of and Officer call. for Executive everyone Alan third to fiscal is Thanks, joining us.

I Before we go over terms make the financial the in last couple points our want the of results a of to for over quarter, performance few months.

all, the employees great company. highlighting will of by begin I First of our

weekly workforce remote every and better sessions, I stronger it, company Difficulty] on are for week [Technical than contributing we strategy our making While ever.

people environment quarter X,XXX Secondly, for speak execution to directly performance investing the by and this our We themselves. our amazing owners employee successful despite results, last the the I country. over challenging economic in whole is believe, the across of team believe related in

have turn floor across for upon to source, hundreds to call strength the propane great brings after financial Tamria Officer, this be then that. country. the quarter the go our back build I of we over Zertuche results I'll of the to clean the good over now it to energy and Chief Operating thousands and continued We the will

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

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

to for Margin year increased $XX for compared revenues per XXXX, or million, the quarter of year. the profit X% Gross $X.XX, prior than period. or period XX% quarter higher million, $XX.X quarter third Difficulty] the also increased of the the same or last For increased gallon [Technical

standby, Instructions] connection while please you're Ladies [Operator reestablish and reconnecting the speaker. with ma'am, our gentlemen, with the audience. And

higher percentage fuel proactive Alan. were higher to of maintenance as total of costs costs, due in than you, period. Cost increase Operating of increases by by period prior X% an fleet operating inflationary year gallon to other or year our from company prior per Thank for X% the increased and million, compared materials rise prior XX% driven period of and expenses also unfavorable expenses, $XX.X income approximately costs workforce. than commodities. wage valuable sales Despite year retention the had or $X.XX a revenue the

have increase the increased X% an reported settlements million a in $X.X fiscal million, million compared million adjusted to or third earnings year period. period, quarter, EBITDA L.P. in net of quarter attributable the million. of in GAAP million prior $X.X during decreased Adjusted EBITDA, prior million prior third compared $XX.X net company $XXX.X the $X a non million period, year $XX.X the fiscal to loss the would compared to year the $XX.X in approximately Ferrellgas fiscal excluding the of measure, impact to For of legal the quarter, third to by $XXX.X

to propane the talents and fuel recycling its theme, impact. company Employee and national time gave the Day of leading activities. to the planting designed from a celebration throughout April under to embraced and Earth month ranged of As provider multiple to environmentally hosting plastic environmental positive drive battery FerrellFuelsChange. initiatives have service friendly community of their long-term during Ferrellgas trees a owners These

Blue delivery expand services. and other home In Rhino addition to locations, to delivery continues its services announced previously home

area. Miami; Brooklyn, Chicagoland and in York; include the Orlando; Jacksonville, New Florida markets and New

tank is local and/or Rhino tank company celebrates exchange The to an safety, Blue choose convenient achievement of in their these recognition a also initiate location, extra Awards. have exchange trip delivered tank The program and peer-to-peer a at and the can with innovation addition to employees to In store recognized residents purchase doorstep. to areas areas a avoid of employee XXX Ferrellgas in across the the that customer Awards Flame country service, leadership. Flame ready-to-grill

Acquisitions. As Figueroa announce Jim. President a of and wealth an They of much the pleased industry knowledge to marketers, Mergers turn to we and now to Vice will Development, in respect I industry. promotions Mayberry for Vice the back propane call active President acquirer Joseph owners and hardworking Business are of propane of the of Richard and to the professionals bring over

Tamria. Thanks,

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answer can't do we the rest it try to be reasons, Some various for I'll now. but

beginning in in As the the in will Eddystone matter we stated XX-Q, segments September. proceed the trial

prepared defend confident a There position. with Eddystone about We dealing was vigorously the our to question against are we inflation. how in fully are claims are and

to we whatever can't. results everyone Tamria’s remain on price the also is fuel, the this and market, says of Federal general consequences our calling think for Reserve worrisome doing call, explanation I do Job of and including inflation we're them, of us. all

focused invest invested being We Will in XXX% we able weather in comes. are are to whatever fully ESG? on part. each We

as The next We're on States for United company over we away is enabled since delivering to know areas environmental two a Century propane our will every finest it that our come. in a governance are And generations decades. Our technology important order from and particular be logistics our the possible we not wash well in focused to move to and serve to communities in social, service and going the discipline. world project the people customers.

highly there. executive a continues CFO the search and firm, keep posted We'll that engaged. respected Regarding search was a you for

optimism you leave the with of that Finally, bit company. our pervades let a me

companies has the all in much show changed about shame end doing, you the their our many again measuring up and people end job brag While That's to people We're how forward new let you see a in that internally cannot all of it's the are remarks. we deeper the looking at standards, it our fiscal of my to adds up seeing great the to results. year. pride

proud to will annual for be again joining We share results. Thanks our us.

We today's conclude thank for participation. That does their again everyone conference.