Ferrellgas Earnings Sharply Higher in Q3; Q4 Seen Promising


Propane distributor Ferrellgas Partners, L.P. ( FGP ) today reported operating results for its fiscal third quarter ended April 30, 2012.

For the quarter, net earnings improved to $21.1 million, or $0.26 per unit, compared with $3.4 million, or $0.04 per unit, in the previous year. This was after operating expense improved to $95.8 million, compared to $103.8 million in the prior year's quarter on lesser sales volumes and management's focus on long-term cost reductions.

Steve Wambold, CEO, said: "Positive momentum is carrying over into the fourth quarter and we expect to report improved operating results in the quarters to follow."

FGP edged up by 7 cents to $16.20 in the after-hours trade.

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This article appears in: Investing , Commodities

Referenced Stocks: FGP

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