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Ferrellgas Partners, L.P. (FGPR) is a leading distributor of propane and related equipment in the United States. The company provides propane for various uses, including residential heating, industrial applications, and outdoor cooking, serving customers across all 50 states, the District of Columbia, and Puerto Rico. FGPR operates through multiple market segments, leveraging its national presence and economies of scale to maintain a competitive edge in the propane distribution industry.
- Retail Sales to End Users - Supplies propane for residential and commercial purposes, including space heating, water heating, cooking, and other propane-fueled appliances.
- Wholesale Sales to Resellers - Distributes propane to resellers who then supply it to end customers.
- Portable Tank Exchange (Blue Rhino) - Provides propane for outdoor cooking through a network of distribution outlets under the Blue Rhino brand.
- Other Gas Sales - Offers additional services such as customer fee income and sales of appliances and materials.
- Agricultural Sales - Supplies propane for agricultural needs, including crop drying, space heating, irrigation, and weed control.
- In light of the tariffs imposed on steel tanks and cylinders, can you elaborate on the specific supplier diversification strategies and cost mitigation measures you plan to implement to counteract these pressures?
- With the solid Q3 growth in gross profit and adjusted EBITDA, what operational initiatives will the management team prioritize to ensure margin preservation in the face of rising operating expenses?
- Your recent investments in Blue Rhino automation have improved efficiency; could you detail the specific enhancements planned, the expected return on these investments, and how they align with your long-term strategy?
- Given the recent CFO retirement and the subsequent expanded responsibilities for Michelle Maggi, what immediate measures are being taken to maintain robust financial oversight and clear investor communication?
- As you work towards completing the refinancing with Moelis, can you discuss how the anticipated changes in your capital structure will enhance the company’s ability to navigate global trade uncertainties and future economic challenges?
Recent press releases and 8-K filings for FGPR.
CFO Change
Management Change
- Michael E. Cole, CFO and Treasurer, will retire effective May 2, 2025.
- The company is retaining Moelis & Company LLC for financial advisory services during the transition and will begin a search for a new CFO.
Mar 21, 2025, 12:00 AM