PR Newswire·Nov 12, 2026, 7:30 AM ET

Suburban Propane Partners, L.P. Announces Full Year and Fourth Quarter Results

SPH

Suburban Propane Partners, L.P. reported fiscal 2026 net income of $109.0 million ($1.63 per Common Unit) & Adjusted EBITDA of $284.0 million, representing a 2.2% increase from the prior year.
Retail propane sales increased 1% to 402.9 million gallons, driven by strong heat-related demand in the eastern U.S. & recent acquisitions, despite warmer-than-normal temperatures in the West.
The Renewable Natural Gas (RNG) segment saw average daily injection volumes rise 13% due to new facilities in Upstate New York & operational enhancements at the Stanfield, Arizona site.
Fiscal 2026 RNG operations recognized $12.4 million in production tax credits & $11.3 million in investment tax credits, with $3.0 million of PTCs monetized during the year.
The company refinanced $350.0 million in senior notes, extending maturities by nearly nine years & reducing total debt by over $25.0 million to achieve a leverage ratio of 4.13x.
The Board increased the annualized distribution rate by 7.7% to $1.40 per Common Unit, with the quarterly distribution raised from $0.325 to $0.35.
Two propane businesses were acquired in California for $24.0 million, with a Florida acquisition completed subsequent to the fiscal year-end for $6.2 million.
Fiscal fourth quarter 2026 resulted in a net loss of $56.8 million ($0.85 per Common Unit) & Adjusted EBITDA of $7.3 million, which included a $7.8 million benefit from PTCs.
Reportable segments were restructured to Propane & Renewable Natural Gas to better align with management's performance evaluation & resource allocation.
Total gross margins for fiscal 2026 reached $893.4 million, increasing 4.0% year-over-year, primarily due to higher unit margins, increased volumes, & PTC benefits.

Company: Suburban Propane Partners, L.P.
Keywords: Suburban Propane Partners, L.P.