Ferrellgas Partners Q3 Profit Up, But Misses View; Ups FY Adj. EBITDA View

(RTTNews) - Propane distributor Ferrellgas Partners, L.P. (FGP) Monday reported third-quarter earnings of $45.38 million, slightly up from $44.6 million last year. Net earnings per common unit holders' interest amounted to $0.57 unit compared with $0.56 unit in the prior-year quarter. On average, 4 analysts polled by Thomson Reuters expected earnings per unit of $0.66 for the quarter. Analysts' estimates typically exclude one-time items. Quarterly revenues rose to $722.11 million from $603.02 million last year. Propane sales volumes for the quarter were 257.9 million gallons, slightly below a year ago, but consistent with planned levels.

In addition, the partnership lifted its fiscal 2014 outlook for earnings before interest tax depreciation and amortization or adjusted EBITDA to $285 million to $290 million, up from the previous range of $275 million to $285 million.