Company: SPH
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0000950170-25-015135
Chunk: 71

Company: SUBURBAN PROPANE PARTNERS LP
Filing Date: 2025-02-06
Form: 10-Q
Item: Part I, Item 2
Chunk 71
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 initiatives.  Included within the propane segment are revenues from risk management activities, which increased $7.0 million, primarily due to a higher notional amount of hedging contracts used in risk management activities that were settled physically.

Revenues from the distribution of fuel oil and refined fuels of $17.7 million were $6.2 million, or 26.1%, lower than the prior year first quarter, primarily due to lower volumes sold, and to a lesser extent, lower average retail selling prices.  Fuel oil and refined fuels gallons sold decreased 0.9 million gallons, or 16.9%, resulting in a $3.9 million decrease in revenues.  Average fuel oil and refined fuels selling prices decreased 9.0% compared to the prior year, reflecting lower average wholesale costs, resulting in a $2.3 million decrease in revenues.  

Revenues in our natural gas and electricity segment of $6.1 million were $0.4 million, or 6.8%, lower than the prior year, primarily due to the impact of a lower customer base.

Revenues in our all other segment of $19.3 million were $2.8 million, or 12.5%, lower than the prior year, primarily due to a decrease in injection of renewable natural gas (“RNG”), due to a planned shut-down at our facility in Stanfield, Arizona for routine maintenance activities and regulatory compliance upgrades.

 26

Cost of Products Sold

    (Dollars in thousands)
     
    Three Months Ended

    Percent

    December 28,

    December 30,

    Increase

    Increase

    2024

    2023

    (Decrease)

    (Decrease)

    Cost of products sold

    Propane
     
    $
    129,741

    $
    127,772

    $
    1,969

    1.5
    %

    Fuel oil and refined fuels

    10,551

    16,721

    (6,170
    )

    (36.9
    )%

    Natural gas and electricity

    2,556

    3,518

    (962
    )

    (27.3
    )%

    All other

    4,314

    5,042

    (728
    )

    (14.4
    )%

    Total cost of products sold
     
    $
    147,