Suburban Propane Partners LP Files Q1 2025 10-Q

TL;DR

**SPH Q1 2025 10-Q filed. Shows propane segment details. Check financials.**

AI Summary

Suburban Propane Partners LP filed its 10-Q for the period ending December 28, 2024. The filing details financial information and operational segments, including propane sales. The company's fiscal year ends on September 27th, and this report covers the first quarter of their fiscal year 2025.

Why It Matters

This filing provides investors and analysts with the latest financial performance and operational details for Suburban Propane Partners LP, crucial for understanding the company's current standing and future prospects.

Risk Assessment

Risk Level: medium — As a publicly traded partnership in the energy sector, Suburban Propane Partners LP is subject to market volatility, commodity price fluctuations, and regulatory changes.

Key Numbers

• 0.50 — Partnership Units (Indicates the number of units outstanding or a per-unit value, relevant for equity analysis.)
• 15 years — Amended Revolving Credit Facility Term (Suggests long-term debt maturity, impacting financial flexibility.)

Key Players & Entities

• SUBURBAN PROPANE PARTNERS LP (company) — Filer
• 2024-12-28 (date) — Reporting period end date
• 2025-02-06 (date) — Filing date
• Whippany, NJ (location) — Business and mailing address city and state
• 07981 (postal_code) — Business and mailing address zip code
• 9738875300 (phone_number) — Business phone number
• Propane (business_segment) — Key operating segment mentioned

FAQ

Filing Documents

• sph-20241228.htm (10-Q) — 2316KB
• sph-ex31_1.htm (EX-31.1) — 13KB
• sph-ex31_2.htm (EX-31.2) — 13KB
• sph-ex32_1.htm (EX-32.1) — 8KB
• sph-ex32_2.htm (EX-32.2) — 8KB
• 0000950170-25-015135.txt ( ) — 10451KB
• sph-20241228.xsd (EX-101.SCH) — 1381KB
• sph-20241228_htm.xml (XML) — 2097KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION 1 ITEM 1.

FINANCIAL STATEMENTS (UNAUDITED)

FINANCIAL STATEMENTS (UNAUDITED) 1 Condensed Consolidated Balance Sheets as of December 28, 2024 and September 28, 2024 1 Condensed Consolidated Statements of Operations for the three months ended December 28, 2024 and December 30, 2023 2 Condensed Consolidated Statements of Comprehensive Income for the three months ended December 28, 2024 and December 30, 2023 3 Condensed Consolidated Statements of Cash Flows for the three months ended December 28, 2024 and December 30, 2023 4 Condensed Consolidated Statements of Partners' Capital for the three months ended December 28, 2024 and December 30, 2023 5 Notes to Condensed Consolidated Financial Statements 6 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 23 ITEM 3.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 32 ITEM 4.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 33

OTHER INFORMATION

PART II. OTHER INFORMATION 34 ITEM 1.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 34 ITEM 1A.

RISK FACTORS

RISK FACTORS 34 ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 36 ITEM 3. DEFAULTS UPON SENIOR SECURITIES 36 ITEM 4. MINE SAFETY DISCLOSURES 36 ITEM 5. OTHER INFORMATION 36 ITEM 6. EXHIBITS 37

SignaturEs

SignaturEs 38 Table of Contents DISCLOSURE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains forward-looking statements ("Forward-Looking Statements") as defined in the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, relating to future business expectations and predictions, capital expenditures, strategic alternatives, project developments, and financial condition and results of operations of Suburban Propane Partners, L.P. (the "Partnership"). Some of these statements can be identified by the use of forward-looking terminology such as "prospects," "outlook," "believes," "estimates," "intends," "may," "will," "should," "could," "anticipates," "expects" or "plans" or the negative or other variation of these or similar words, or by discussion of trends and conditions, strategies or risks and uncertainties. These Forward-Looking Statements involve certain risks and uncertainties that could cause actual results to differ materially from those discussed or implied in such Forward-Looking Statements (statements contained in this Quarterly Report identifying such risks and uncertainties are referred to as "Cautionary Statements"). The risks and uncertainties that could impact the Partnership's results include, but are not limited to, the following: The impact of weather conditions on the demand for propane, renewable propane, fuel oil and other refined fuels, natural gas, renewable natural gas ("RNG") and electricity; The impact of climate change and potential climate change legislation on the Partnership and demand for propane, fuel oil and other refined fuels, natural gas, RNG and electricity; Volatility in the unit cost of propane, renewable propane, fuel oil and other refined fuels, natural gas, RNG and electricity, the impact of the Partnership's hedging and risk management activities, and the adverse

FINANCI AL INFORMATION

PART I. FINANCI AL INFORMATION

FINANCI AL STATEMENTS

ITEM 1. FINANCI AL STATEMENTS SUBURBAN PROPANE PARTNERS, L.P. AND SUBSIDIARIES CONDENSED CONSOLIDA TED BALANCE SHEETS (in thousands) (unaudited) December 28, September 28, 2024 2024 ASSETS Current assets: Cash and cash equivalents $ 4,441 $ 3,219 Accounts receivable, less allowance for doubtful accounts of $ 5,307 and $ 4,707 , respectively 125,109 66,444 Inventories 60,566 55,430 Other current assets 39,888 32,451 Total current assets 230,004 157,544 Property, plant and equipment, net 685,857 653,985 Operating lease right-of-use assets 138,729 140,243 Goodwill 1,160,887 1,151,252 Other intangible assets, net 91,524 74,512 Other assets 77,625 95,225 Total assets $ 2,384,626 $ 2,272,761 LIABILITIES AND PARTNERS' CAPITAL Current liabilities: Accounts payable $ 86,258 $ 41,058 Accrued employment and benefit costs 34,974 40,371 Customer deposits and advances 111,490 126,570 Operating lease liabilities 36,298 35,616 Other current liabilities 60,385 62,507 Total current liabilities 329,405 306,122 Long-term borrowings 1,302,824 1,210,326 Accrued insurance 45,610 45,560 Operating lease liabilities 101,609 103,797 Other liabilities 60,040 59,896 Total liabilities 1,839,488 1,725,701 Commitments and contingencies Partners' capital: Common Unitholders ( 64,490 and 64,072 units issued and outstanding at December 28, 2024 and September 28, 2024, respectively) 551,401 553,207 Accumulated other comprehensive loss ( 6,263 ) ( 6,147 ) Total partners' capital 545,138 547,060 Total liabilities and partners' capital $ 2,384,626 $ 2,272,761 The accompanying notes are an integral part of these condensed consolidated financial statements. 1 Table of Contents SUBURBAN PROPANE PARTNERS, L.P. AND SUBSIDIARIES CONDENSED CONSOLIDATED S TATEMENTS OF OPERATIONS (in thousands, except

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