Ferrellgas Partners L.P. Files 10-Q for Period Ending January 31, 2024

TL;DR

<b>Ferrellgas Partners L.P. has filed its quarterly report (10-Q) for the period ending January 31, 2024.</b>

AI Summary

FERRELLGAS PARTNERS L P (FGPR) filed a Quarterly Report (10-Q) with the SEC on March 8, 2024. Ferrellgas Partners L.P. filed a 10-Q report for the period ending January 31, 2024. The filing covers the second quarter of the fiscal year. The company's fiscal year ends on July 31st. Ferrellgas Partners L.P. is incorporated in Delaware. The company's principal business address is One Liberty Plaza, Liberty, MO.

Why It Matters

For investors and stakeholders tracking FERRELLGAS PARTNERS L P, this filing contains several important signals. This 10-Q filing provides investors with an update on the company's financial performance and operational status for the second quarter of its fiscal year. Understanding the details within this report is crucial for assessing Ferrellgas's current financial health, strategic direction, and potential risks moving forward.

Risk Assessment

Risk Level: low — FERRELLGAS PARTNERS L P shows low risk based on this filing. The filing is a standard 10-Q, which is a routine quarterly report and does not indicate any unusual or significant events.

Analyst Insight

Review the financial statements and management's discussion and analysis within the 10-Q to understand the company's performance and outlook.

Key Numbers

• 2024-01-31 — Period of Report (CONFORMED PERIOD OF REPORT)
• 2024-03-08 — Filing Date (FILED AS OF DATE)
• 0731 — Fiscal Year End (FISCAL YEAR END)
• 816-792-1600 — Business Phone (BUSINESS PHONE)

Key Players & Entities

• FERRELLGAS PARTNERS L P (company) — FILER
• FERRELLGAS FINANCE CORP (company) — FILER
• FERRELLGAS PARTNERS FINANCE CORP (company) — FILER
• FERRELLGAS L P (company) — FILER
• 0000922358 (company) — CENTRAL INDEX KEY
• 0001012493 (company) — CENTRAL INDEX KEY
• 0000922359 (company) — CENTRAL INDEX KEY
• 0000922360 (company) — CENTRAL INDEX KEY

FAQ

Industry Context

Ferrellgas Partners L.P. operates in the retail and wholesale distribution of propane and related products.

Regulatory Implications

The company is subject to standard SEC reporting requirements for publicly traded entities, including the filing of quarterly 10-Q reports.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and cash flow.
2. Review the Management's Discussion and Analysis for insights into operational performance and future outlook.
3. Check for any new risk factors or updates to existing ones.

Key Dates

• 2024-01-31: Period End Date — Covers the financial results for the second quarter of the fiscal year.
• 2024-03-08: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Year-Over-Year Comparison

This is a standard quarterly filing (10-Q) and does not provide direct comparison data to a previous filing within this extract.

Filing Documents

• fgp-20240131x10q.htm (10-Q) — 3024KB
• fgp-20240131xex31d1.htm (EX-31.1) — 20KB
• fgp-20240131xex31d2.htm (EX-31.2) — 20KB
• fgp-20240131xex31d3.htm (EX-31.3) — 20KB
• fgp-20240131xex31d4.htm (EX-31.4) — 20KB
• fgp-20240131xex32d1.htm (EX-32.1) — 8KB
• fgp-20240131xex32d2.htm (EX-32.2) — 8KB
• fgp-20240131xex32d3.htm (EX-32.3) — 8KB
• fgp-20240131xex32d4.htm (EX-32.4) — 9KB
• 0001558370-24-002787.txt (&nbsp;) — 10572KB
• fgp-20240131.xsd (EX-101.SCH) — 66KB
• fgp-20240131_cal.xml (EX-101.CAL) — 64KB
• fgp-20240131_def.xml (EX-101.DEF) — 351KB
• fgp-20240131_lab.xml (EX-101.LAB) — 497KB
• fgp-20240131_pre.xml (EX-101.PRE) — 436KB
• fgp-20240131x10q_htm.xml (XML) — 1911KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION ITEM 1.

FINANCIAL STATEMENTS (unaudited)

FINANCIAL STATEMENTS (unaudited) Ferrellgas Partners, L.P. and Subsidiaries Condensed Consolidated Balance Sheets – January 31, 2024 and July 31, 2023 4 Condensed Consolidated Statements of Operations – Three and six months ended January 31, 2024 and 2023 5 Condensed Consolidated Statements of Comprehensive Income – Three and six months ended January 31, 2024 and 2023 6 Condensed Consolidated Statement of Equity (Deficit) – Three and six months ended January 31, 2024 and 2023 7 Condensed Consolidated Statements of Cash Flows – Six months ended January 31, 2024 and 2023 8 Ferrellgas, L.P. and Subsidiaries Condensed Consolidated Balance Sheets – January 31, 2024 and July 31, 2023 9 Condensed Consolidated Statements of Operations – Three and six months ended January 31, 2024 and 2023 10 Condensed Consolidated Statements of Comprehensive Income – Three and six months ended January 31, 2024 and 2023 11 Condensed Consolidated Statement of Partners' Deficit – Three and six months ended January 31, 2024 and 2023 12 Condensed Consolidated Statements of Cash Flows – Six months ended January 31, 2024 and 2023 13 Ferrellgas Partners, L.P. and Subsidiaries and Ferrellgas, L.P. and Subsidiaries Notes to Condensed Consolidated Financial Statements 14 Ferrellgas Partners Finance Corp. Condensed Balance Sheets – January 31, 2024 and July 31, 2023 34 Condensed Statements of Operations – Three and six months ended January 31, 2024 and 2023 35 Condensed Statements of Cash Flows – Six months ended January 31, 2024 and 2023 36 Notes to Condensed Financial Statements 37 Ferrellgas Finance Corp. Condensed Balance Sheets – January 31, 2024 and July 31, 2023 38 Condensed Statements of Operations – Three and six months ended January 31, 2024 and 2023 39 Condensed Statements of Cash Flows – Six months ended January 31, 2024 and 2023 40 Notes to Condensed Financial Statements 41 ITEM 2.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 42 ITEM 3.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 60 ITEM 4.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 61

- OTHER INFORMATION

PART II - OTHER INFORMATION ITEM 1.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 61 ITEM 1A.

RISK FACTORS

RISK FACTORS 61 ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 61 ITEM 3. DEFAULTS UPON SENIOR SECURITIES 62 ITEM 4. MINE SAFETY DISCLOSURES 62 ITEM 5. OTHER INFORMATION 62 ITEM 6. EXHIBITS 63 3 Table of Contents

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION ITEM 1.

FINANCIAL STATEMENTS (unaudited)

FINANCIAL STATEMENTS (unaudited) FERRELLGAS PARTNERS, L.P. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except unit data) (unaudited) January 31, 2024 July 31, 2023 ASSETS Current assets: Cash and cash equivalents (including $ 10,789 and $ 11,126 of restricted cash at January 31, 2024 and July 31, 2023, respectively) $ 139,154 $ 137,347 Accounts and notes receivable, net 226,920 159,379 Inventories 100,253 98,104 Price risk management asset 15,276 11,966 Prepaid expenses and other current assets 33,729 29,135 Total current assets 515,332 435,931 Property, plant and equipment, net 622,935 615,174 Goodwill, net 257,006 257,006 Intangible assets (net of accumulated amortization of $ 354,139 and $ 349,614 at January 31, 2024 and July 31, 2023, respectively) 116,911 106,615 Operating lease right-of-use assets 54,034 57,839 Other assets, net 54,735 58,838 Total assets $ 1,620,953 $ 1,531,403 LIABILITIES, MEZZANINE AND EQUITY (DEFICIT) Current liabilities: Accounts payable $ 67,912 $ 35,115 Current portion of long-term debt 2,977 2,597 Current operating lease liabilities 24,983 24,600 Other current liabilities 203,785 197,030 Total current liabilities 299,657 259,342 Long-term debt 1,458,693 1,456,184 Operating lease liabilities 30,345 34,235 Other liabilities 25,563 29,084 Contingencies and commitments (Note L) Mezzanine equity: Senior preferred units, net of issue discount and offering costs ( 700,000 units outstanding at January 31, 2024 and July 31, 2023) 651,349 651,349 Equity (Deficit): Limited partner unitholders Class A ( 4,857,605 units outstanding at January 31, 2024 and July 31, 2023) ( 1,158,241 ) ( 1,205,103 ) Class B ( 1,300,000 units outstanding at January 31, 2024 and July 31, 2023) 383,012 383,012 General partner unitholder ( 49,496 units outstanding at January 31, 2024 and July 31, 20

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