Ferrellgas Partners Q1 Loss Widens - Quick Facts

(RTTNews) - Ferrellgas Partners LP (FGP), a distributor of propane, Friday said its first-quarter loss widened on higher expenses, that offset the revenue growth.

Common unitholders' interest in net loss was $24.59 million or $0.31 per unit, compared with $17.48 million or $0.22 per unit last year. On average, seven analysts polled by Thomson Reuters expected the company to report loss per share of $0.20 for the quarter. Analysts' estimates typically exclude one-time items.

The partnership reported Adjusted EBITDA or Earnings Before Interest, Taxes, Depreciation, and Amortization of $26.4 million for the period.

Total revenues for the three-month period was $415.03 million, up from prior year's $362.9 million. Analysts expected the company to generate revenues of $390.41 million.

Including $626 of severance costs for the year ended October 31, operating expense was $102.9 million compared with $96.4 million a year earlier.

Looking ahead the company said: "Fiscal 2014 is off to a solid start with nationwide winter temperatures forecasted near normal levels this coming season. Based on these weather forecasts, our first-quarter results and the strength of our underlying fundamentals, we project Adjusted EBITDA between $265 million and $275 million for fiscal 2014."