Ferrellgas Partners LP Earnings: Here’s Why the Stock is Up Now
Ferrellgas Partners LP (NYSE:FGP) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.75%.
Ferrellgas Partners LP Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 55.32% to $0.73 in the quarter versus EPS of $0.47 in the year-earlier quarter.
Revenue: Decreased 20.54% to $658.9 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Ferrellgas Partners LP reported adjusted EPS income of $0.73 per share. By that measure, the company missed the mean analyst estimate of $0.82. It beat the average revenue estimate of $625.03 million.
Quoting Management: President and Chief Executive Officer Steve Wambold commented, “Second-quarter results represented the third consecutive quarter of positive momentum despite unusually warm weather. Temperatures during the quarter were slightly cooler than in the prior year, but still substantially warmer than normal. For the quarter, temperatures were more than 10% warmer than normal and in the key heating month of December temperatures were 1% warmer than the prior year or nearly 15% warmer than normal.”
Key Stats (on next page)…