Cash flow Suburban Propane Partners, L.P.

Stocks

SPH

US8644821048

Oil & Gas Refining and Marketing

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19.18 ^USD	+0.29%		-1.39%	+3.29%

May. 07	Suburban Propane Partners, L.P., Q2 2026 Earnings Call, May 07, 2026
May. 07	Suburban Propane Partners' Shares Fall Marginally After Q2 Earnings, Revenue Decline	MT

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Published financial data: SUBURBAN PROPANE PARTNERS, L.P.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: September	2021	2022	2023	2024	2025
Revenues	1.24B	1.45B	1.36B	1.25B	1.36B
Other Revenues, Total	50.77M	53.24M	73.77M	77.48M	75.08M
Total Revenues	1.29B	1.5B	1.43B	1.33B	1.43B
Cost of Goods Sold, Total	897M	1.15B	1.07B	999M	1.06B
Gross Profit	392M	347M	361M	328M	375M
Selling General & Admin Expenses, Total	74.1M	81.76M	91.57M	89.89M	97.3M
Depreciation & Amortization - (IS)	105M	58.85M	62.58M	66.98M	72.04M
Other Operating Expenses, Total	179M	141M	154M	157M	169M
Operating Income	213M	206M	207M	171M	205M
Interest Expense, Total	-68.13M	-60.66M	-73.39M	-74.59M	-76.26M
Net Interest Expenses	-68.13M	-60.66M	-73.39M	-74.59M	-76.26M
Income (Loss) On Equity Invest.	-	-	-	-18.12M	-3.99M
Other Non Operating Income (Expenses)	-5.17M	-5.53M	-9.04M	-3.42M	18K
EBT, Excl. Unusual Items	140M	140M	124M	75.12M	125M
Gain (Loss) On Sale Of Investments	-	-	-	-	-25.9M
Gain (Loss) On Sale Of Assets	-	-	-	-	-
Legal Settlements	-	-	-	-	-
Other Unusual Items	-16.03M	-	-	-215K	8.67M
EBT, Incl. Unusual Items	124M	140M	124M	74.91M	108M
Income Tax Expense	1.11M	429K	668K	734K	1.35M
Earnings From Continuing Operations	123M	140M	124M	74.17M	107M
Net Income to Company	123M	140M	124M	74.17M	107M
Net Income - (IS)	123M	140M	124M	74.17M	107M
Net Income to Common Incl Extra Items	123M	140M	124M	74.17M	107M
Net Income to Common Excl. Extra Items	123M	140M	124M	74.17M	107M
Per Share Items
Net EPS - Basic	1.96	2.21	1.94	1.15	1.64
Basic EPS - Continuing Operations	1.96	2.21	1.94	1.15	1.64
Basic Weighted Average Shares Outstanding	62.71M	63.21M	63.84M	64.31M	65.11M
Net EPS - Diluted	1.94	2.18	1.92	1.14	1.62
Diluted EPS - Continuing Operations	1.94	2.18	1.92	1.14	1.62
Diluted Weighted Average Shares Outstanding	63.31M	64.02M	64.44M	64.84M	65.59M
Normalized Basic EPS	1.39	1.39	1.22	0.73	1.2
Normalized Diluted EPS	1.38	1.37	1.21	0.72	1.19
Dividend Per Share	1.25	1.3	1.3	1.3	1.3
Payout Ratio	62.29	58.5	66.57	112.02	78.99
Supplemental Items
EBITDA	318M	265M	269M	238M	277M
EBITA	261M	214M	218M	184M	218M
EBIT	213M	206M	207M	171M	205M
EBITDAR	356M	306M	311M	282M	322M
Total Revenues (As Reported)	1.29B	1.5B	1.43B	1.33B	1.43B
Effective Tax Rate - (Ratio)	0.9	0.31	0.54	0.98	1.25
Current Domestic Taxes	1.01M	1.07M	963K	734K	766K
Total Current Taxes	1.01M	1.07M	963K	734K	766K
Total Deferred Taxes	102K	-638K	-295K	-	582K
Normalized Net Income	87.46M	87.59M	77.76M	46.95M	78.22M
Distributable Cash	238M	186M	182M	144M	180M
Non-Cash Pension Expense	5.24M	4.37M	3.88M	4M	2.06M
Supplemental Operating Expense Items
General and Administrative Expenses	74.1M	81.76M	91.57M	89.89M	96.38M
Net Rental Expense, Total	37.78M	41.04M	41.73M	44.26M	44.6M
Imputed Operating Lease Interest Expense	15.98M	16.19M	19.27M	19.71M	20.31M
Imputed Operating Lease Depreciation	21.8M	24.85M	22.47M	24.55M	24.29M
Stock-Based Comp., Other (Total)	15.77M	18.55M	13.38M	20.54M	21.16M
Total Stock-Based Compensation	15.77M	18.55M	13.38M	20.54M	21.16M

Fiscal Period: September	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	5.81M	4.1M	3.51M	3.22M	405K
Total Cash And Short Term Investments	5.81M	4.1M	3.51M	3.22M	405K
Accounts Receivable, Total	71.37M	78.53M	67.69M	66.44M	69.48M
Total Receivables	71.37M	78.53M	67.69M	66.44M	69.48M
Inventory	61.8M	66.92M	61.83M	55.43M	73.73M
Restricted Cash	-	-	-	9.36M	3.3M
Other Current Assets, Total	41.13M	25.31M	30.97M	23.1M	19.36M
Total Current Assets	180M	175M	164M	158M	166M
Gross Property Plant And Equipment	1.54B	1.58B	1.7B	1.75B	1.82B
Accumulated Depreciation	-838M	-875M	-909M	-952M	-1.01B
Net Property Plant And Equipment	699M	700M	789M	794M	810M
Goodwill	1.11B	1.11B	1.15B	1.15B	1.16B
Other Intangibles, Total	39.26M	40M	80.55M	74.51M	84.78M
Deferred Charges Long-Term	2.24M	1.31M	903K	3.24M	1.74M
Other Long-Term Assets, Total	23.97M	73.77M	87.25M	91.99M	75.38M
Total Assets	2.05B	2.1B	2.27B	2.27B	2.3B
Liabilities
Accounts Payable, Total	39.17M	35.17M	40.04M	41.06M	45.04M
Accrued Expenses, Total	70.8M	65.8M	73.54M	68.83M	73.85M
Current Portion of Long-Term Debt	-	-	-	-	-
Current Portion of Leases	30.88M	32.13M	33.56M	35.62M	34.33M
Unearned Revenue Current, Total	112M	128M	127M	127M	122M
Other Current Liabilities	34.57M	45.94M	33.36M	34.05M	27.86M
Total Current Liabilities	287M	307M	308M	306M	303M
Long-Term Debt	1.12B	1.08B	1.19B	1.21B	1.21B
Long-Term Leases	98.53M	104M	108M	104M	83.68M
Other Non Current Liabilities	123M	119M	120M	105M	99.45M
Total Liabilities	1.63B	1.61B	1.72B	1.73B	1.7B
Common Stock, Total	443M	510M	557M	553M	604M
Comprehensive Income and Other	-17.58M	-12.6M	-10.67M	-6.15M	-5.48M
Total Common Equity	425M	498M	546M	547M	599M
Total Equity	425M	498M	546M	547M	599M
Total Liabilities And Equity	2.05B	2.1B	2.27B	2.27B	2.3B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	62.96M	63.49M	64.02M	64.49M	66.16M
ECS Total Common Shares Outstanding	62.54M	62.99M	63.52M	64.07M	65.84M
Book Value / Share	6.8	7.9	8.6	8.54	9.09
Tangible Book Value	-721M	-656M	-683M	-679M	-644M
Tangible Book Value Per Share	-11.53	-10.41	-10.75	-10.59	-9.78
Total Debt	1.25B	1.21B	1.33B	1.35B	1.33B
Net Debt	1.24B	1.21B	1.33B	1.35B	1.33B
Debt Equivalent of Unfunded Proj. Benefit Obligation	25.22M	20.76M	18.03M	12.65M	9.6M
Debt Equivalent Oper. Leases	302M	328M	334M	354M	357M
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Finished Goods, Total	61.8M	66.92M	61.83M	55.43M	73.73M
Land - (BS)	187M	190M	195M	196M	200M
Buildings, Total	114M	117M	130M	133M	141M
Machinery, Total	930M	952M	1.04B	1.07B	1.11B
Full Time Employees	3.13K	3.17K	3.24K	3.1K	3.19K
Part Time Employees	95	95	105	113	151
Accumulated Allowance for Doubtful Accounts (Supple)	3.33M	4.82M	4.45M	4.71M	5.11M

Fiscal Period: September	2021	2022	2023	2024	2025
Net Income	123M	140M	124M	74.17M	107M
Depreciation & Amortization - CF	56.5M	51.28M	51.68M	54.68M	59.36M
Amortization of Goodwill and Intangible Assets - (CF)	48.05M	7.57M	10.91M	12.29M	12.68M
Depreciation & Amortization, Total	105M	58.85M	62.58M	66.98M	72.04M
(Gain) Loss From Sale Of Asset	-	-	-	-	-
(Income) Loss On Equity Investments - (CF)	-	-	-	18.12M	29.89M
Stock-Based Compensation (CF)	10.07M	11.25M	8.26M	8.19M	7.78M
Other Operating Activities, Total	20.06M	3.81M	7.78M	4.91M	5M
Change In Accounts Receivable	-15.91M	-7.1M	15.08M	1.3M	-4.06M
Change In Inventories	-14.8M	-4.82M	5.14M	6.58M	-14.14M
Change In Accounts Payable	6.78M	-4.34M	-206K	1.06M	939K
Change in Unearned Revenues	7.3M	15.86M	-281K	-741K	-4.83M
Change in Other Net Operating Assets	-14.31M	7.32M	3.13M	-19.99M	-12.93M
Cash from Operations	227M	221M	225M	161M	186M
Capital Expenditure	-29.86M	-44.35M	-44.95M	-59.43M	-71.96M
Sale of Property, Plant, and Equipment	4.5M	5.15M	4.44M	2.94M	3.17M
Cash Acquisitions	-8.72M	-56.08M	-130M	-25.15M	-59.47M
Divestitures	-	850K	-	-	-
Cash from Investing	-34.08M	-94.44M	-171M	-81.64M	-128M
Short Term Debt Issued, Total	-	-	-	-	-
Long-Term Debt Issued, Total	1.1B	387M	526M	626M	459M
Total Debt Issued	1.1B	387M	526M	626M	459M
Short Term Debt Repaid, Total	-	-	-	-	-
Long-Term Debt Repaid, Total	-1.2B	-429M	-483M	-607M	-461M
Total Debt Repaid	-1.2B	-429M	-483M	-607M	-461M
Issuance of Common Stock	-	-	-	-	23.46M
Common Dividends Paid	-76.48M	-81.72M	-82.38M	-83.09M	-84.18M
Common & Preferred Stock Dividends Paid	-76.48M	-81.72M	-82.38M	-83.09M	-84.18M
Other Financing Activities, Total	-14.39M	-3.7M	-4.64M	-8.41M	-4.23M
Cash from Financing	-190M	-128M	-44.63M	-72.5M	-66.74M
Net Change in Cash	2.67M	-1.71M	9.97M	6.44M	-8.74M
Supplemental Items
Maintenance CAPEX	14.5M	20.1M	19.7M	20.9M	23.6M
Cash Interest Paid	64.89M	59.2M	67.53M	73.55M	73.94M
Levered Free Cash Flow	158M	146M	124M	90.91M	88.39M
Unlevered Free Cash Flow	200M	184M	170M	138M	136M
Change In Net Working Capital	23.29M	-21.77M	-10.03M	-2.41M	13.56M
Net Debt Issued / Repaid	-98.93M	-42.4M	42.4M	19M	-1.8M

Fiscal Period: September	2021	2022	2023	2024	2025
Profitability
Return on Assets	6.5	6.21	5.91	4.71	5.62
Return on Total Capital	7.92	7.62	7.21	5.67	6.71
Return On Equity %	31.17	30.27	23.71	13.57	18.6
Return on Common Equity	31.17	30.27	23.71	13.57	18.6
Margin Analysis
Gross Profit Margin %	30.41	23.11	25.26	24.72	26.16
SG&A Margin	5.75	5.44	6.41	6.77	6.79
EBITDA Margin %	24.66	17.66	18.85	17.95	19.37
EBITA Margin %	20.27	14.25	15.24	13.83	15.22
EBIT Margin %	16.55	13.74	14.47	12.9	14.34
Income From Continuing Operations Margin %	9.53	9.3	8.66	5.59	7.44
Net Income Margin %	9.53	9.3	8.66	5.59	7.44
Net Avail. For Common Margin %	9.53	9.3	8.66	5.59	7.44
Normalized Net Income Margin	6.79	5.83	5.44	3.54	5.46
Levered Free Cash Flow Margin	12.25	9.71	8.71	6.85	6.17
Unlevered Free Cash Flow Margin	15.55	12.24	11.92	10.36	9.5
Asset Turnover
Asset Turnover	0.63	0.72	0.65	0.58	0.63
Fixed Assets Turnover	1.82	2.15	1.92	1.68	1.79
Receivables Turnover (Average Receivables)	19.52	19.32	18.54	18.63	19.97
Inventory Turnover (Average Inventory)	16.51	17.94	16.59	17.04	16.38
Short Term Liquidity
Current Ratio	0.63	0.57	0.53	0.51	0.55
Quick Ratio	0.27	0.27	0.23	0.23	0.23
Operating Cash Flow to Current Liabilities	0.79	0.72	0.73	0.52	0.62
Days Sales Outstanding (Average Receivables)	18.64	18.84	20.01	19.53	18.22
Days Outstanding Inventory (Average Inventory)	22.05	20.29	22.36	21.36	22.22
Average Days Payable Outstanding	14.2	11.67	13.12	14.87	14.56
Cash Conversion Cycle (Average Days)	26.49	27.46	29.24	26.03	25.88
Long Term Solvency
Total Debt/Equity	293.22	243.83	243.48	246.73	222.16
Total Debt / Total Capital	74.57	70.92	70.89	71.16	68.96
LT Debt/Equity	285.96	237.37	237.34	240.22	216.42
Long-Term Debt / Total Capital	72.72	69.04	69.1	69.28	67.18
Total Liabilities / Total Assets	79.27	76.35	75.94	75.93	73.93
EBIT / Interest Expense	3.13	3.4	2.82	2.3	2.69
EBITDA / Interest Expense	5.22	5.05	4.24	3.79	4.22
(EBITDA - Capex) / Interest Expense	4.78	4.32	3.63	2.99	3.28
Total Debt / EBITDA	3.51	3.96	4.28	4.78	4.13
Net Debt / EBITDA	3.49	3.95	4.26	4.77	4.13
Total Debt / (EBITDA - Capex)	3.83	4.63	5	6.05	5.32
Net Debt / (EBITDA - Capex)	3.81	4.62	4.98	6.04	5.32
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	16.32	16.5	-4.81	-7.14	7.94
Gross Profit, 1 Yr. Growth %	21.33	-11.47	4.06	-9.11	14.21
EBITDA, 1 Yr. Growth %	23.62	-16.56	1.6	-13.1	17.68
EBITA, 1 Yr. Growth %	32.41	-18.14	1.8	-17.49	20.43
EBIT, 1 Yr. Growth %	52.02	-3.24	0.25	-19.05	21.7
Earnings From Cont. Operations, 1 Yr. Growth %	102.1	13.78	-11.42	-40.06	43.68
Net Income, 1 Yr. Growth %	102.1	13.78	-11.42	-40.06	43.68
Normalized Net Income, 1 Yr. Growth %	130.45	0.15	-11.22	-41.82	65.2
Diluted EPS Before Extra, 1 Yr. Growth %	100	12.37	-11.93	-40.62	42.11
Accounts Receivable, 1 Yr. Growth %	28.74	10.03	-13.81	-1.84	4.57
Inventory, 1 Yr. Growth %	31.86	8.28	-7.61	-10.35	33.01
Net Property, Plant and Equip., 1 Yr. Growth %	-2.5	0.18	12.66	0.66	2.02
Total Assets, 1 Yr. Growth %	0.22	2.53	7.93	0.1	1.03
Tangible Book Value, 1 Yr. Growth %	-12.68	-9.01	4.13	-0.63	-5.11
Common Equity, 1 Yr. Growth %	17.4	16.95	9.81	0.13	9.42
Cash From Operations, 1 Yr. Growth %	8.21	-2.65	2.13	-28.7	15.99
Capital Expenditures, 1 Yr. Growth %	-8.13	48.56	1.35	32.21	21.09
Levered Free Cash Flow, 1 Yr. Growth %	8.16	-7.6	-14.68	-30.63	-1.09
Unlevered Free Cash Flow, 1 Yr. Growth %	4.04	-8.32	-7.32	-22.27	0.05
Dividend Per Share, 1 Yr. Growth %	-30.56	4	0	0	0
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	0.83	16.41	5.31	-5.98	0.12
Gross Profit, 2 Yr. CAGR %	6.93	3.64	-4.02	-2.75	1.88
EBITDA, 2 Yr. CAGR %	8.14	1.57	-7.92	-5.22	2
EBITA, 2 Yr. CAGR %	12.29	4.11	-8.71	-7.37	0.71
EBIT, 2 Yr. CAGR %	18.89	21.28	-1.51	-8.9	0.32
Earnings From Cont. Operations, 2 Yr. CAGR %	33.76	51.64	0.39	-27.14	-7.2
Net Income, 2 Yr. CAGR %	33.76	51.64	0.39	-27.14	-7.2
Normalized Net Income, 2 Yr. CAGR %	41.91	51.92	-5.71	-26.78	0.29
Diluted EPS Before Extra, 2 Yr. CAGR %	32.8	49.91	-0.52	-27.69	-8.14
Accounts Receivable, 2 Yr. CAGR %	9.67	19.01	-2.62	-8.02	1.32
Inventory, 2 Yr. CAGR %	17.14	19.49	0.02	-8.99	9.2
Net Property, Plant and Equip., 2 Yr. CAGR %	5.58	-1.17	6.23	6.49	1.34
Total Assets, 2 Yr. CAGR %	1.33	1.37	5.2	3.94	0.57
Tangible Book Value, 2 Yr. CAGR %	-5.23	-10.86	-2.66	1.72	-2.89
Common Equity, 2 Yr. CAGR %	0.19	17.17	13.33	4.86	4.67
Cash From Operations, 2 Yr. CAGR %	-0.05	2.64	-0.29	-14.67	-9.06
Capital Expenditures, 2 Yr. CAGR %	-7.61	16.82	22.7	15.76	26.53
Levered Free Cash Flow, 2 Yr. CAGR %	-5.8	-0.03	-11.21	-21.05	-16.37
Unlevered Free Cash Flow, 2 Yr. CAGR %	-5.79	-2.33	-7.82	-13.49	-11.13
Dividend Per Share, 2 Yr. CAGR %	-27.83	-15.02	1.98	0	0
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-1.4	5.8	8.86	0.98	-1.55
Gross Profit, 3 Yr. CAGR %	3.42	0.4	3.78	-5.75	2.6
EBITDA, 3 Yr. CAGR %	3.33	-0.81	1.58	-9.16	1.52
EBITA, 3 Yr. CAGR %	6	1.06	3.34	-11.11	0.65
EBIT, 3 Yr. CAGR %	9.41	11	13.82	-7.05	-0.15
Earnings From Cont. Operations, 3 Yr. CAGR %	17.07	26.74	26.76	-15.47	-8.63
Net Income, 3 Yr. CAGR %	17.07	26.74	26.76	-15.47	-8.63
Normalized Net Income, 3 Yr. CAGR %	20.11	26.34	27.01	-18.73	-3.7
Diluted EPS Before Extra, 3 Yr. CAGR %	16.09	25.61	25.56	-16.24	-9.42
Accounts Receivable, 3 Yr. CAGR %	0.03	9.79	6.88	-2.36	-4
Inventory, 3 Yr. CAGR %	1.49	14.11	9.67	-3.56	3.28
Net Property, Plant and Equip., 3 Yr. CAGR %	2.5	3.75	3.24	4.34	4.98
Total Assets, 3 Yr. CAGR %	-0.79	1.73	3.51	3.47	2.96
Tangible Book Value, 3 Yr. CAGR %	-2.38	-6.51	-6.12	-1.99	-0.61
Common Equity, 3 Yr. CAGR %	-4.85	5.49	14.67	8.74	6.36
Cash From Operations, 3 Yr. CAGR %	2.49	-0.92	2.47	-10.84	-5.48
Capital Expenditures, 3 Yr. CAGR %	-3.19	8.24	11.42	25.79	17.51
Levered Free Cash Flow, 3 Yr. CAGR %	1.56	-6.41	-5.17	-16.8	-15.38
Unlevered Free Cash Flow, 3 Yr. CAGR %	0.23	-6.64	-4.02	-11.8	-9.54
Dividend Per Share, 3 Yr. CAGR %	-19.54	-18.48	-10.28	1.32	0
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	4.26	4.8	1.23	0.92	5.27
Gross Profit, 5 Yr. CAGR %	7.39	2.02	0.38	-0.87	3.02
EBITDA, 5 Yr. CAGR %	8.31	1.15	-1.33	-2.6	1.54
EBITA, 5 Yr. CAGR %	13.17	3.63	-0.15	-2.4	2.02
EBIT, 5 Yr. CAGR %	20.58	10.99	4.9	2.57	7.93
Earnings From Cont. Operations, 5 Yr. CAGR %	53.43	29.75	10.09	1.57	11.89
Net Income, 5 Yr. CAGR %	53.43	29.75	10.09	1.57	11.89
Normalized Net Income, 5 Yr. CAGR %	74.9	28.49	9.03	1.57	15.56
Diluted EPS Before Extra, 5 Yr. CAGR %	52.28	28.59	9.14	0.72	10.8
Accounts Receivable, 5 Yr. CAGR %	5.81	3.64	-1.03	2.29	4.62
Inventory, 5 Yr. CAGR %	6.39	4.69	0.9	4.24	9.48
Net Property, Plant and Equip., 5 Yr. CAGR %	-1.19	0.22	3.98	4.84	2.47
Total Assets, 5 Yr. CAGR %	-2.11	-0.63	1.56	2.61	2.32
Tangible Book Value, 5 Yr. CAGR %	1.7	-2.94	-2.49	-3.3	-4.84
Common Equity, 5 Yr. CAGR %	-9.69	-2.09	2.04	5.24	10.56
Cash From Operations, 5 Yr. CAGR %	7.55	6.13	1.37	-6.67	-2.31
Capital Expenditures, 5 Yr. CAGR %	-4.9	9.5	6.44	11.18	17.23
Levered Free Cash Flow, 5 Yr. CAGR %	7.45	4.88	-3.75	-12.57	-9.54
Unlevered Free Cash Flow, 5 Yr. CAGR %	4.99	2.55	-3.07	-9.44	-6.72
Dividend Per Share, 5 Yr. CAGR %	-18.84	-16.81	-11.54	-11.54	-6.3