Referenced Stocks

Ferrellgas Earnings Sharply Higher in Q3; Q4 Seen Promising

By Midnight Trader,  June 08, 2012, 07:09:08 AM EDT

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.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

Referenced Stocks: FGP



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