Company: SPH
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0000950170-25-015135
Chunk: 41

Company: SUBURBAN PROPANE PARTNERS LP
Filing Date: 2025-02-06
Form: 10-Q
Item: Part I, Item 1
Chunk 41
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 respectively, reported within “Other, net” on the condensed consolidated statements of operations, in order to write-down the carrying values of these investments to their estimated fair values.

As previously announced on January 23, 2025, our Board of Supervisors declared a quarterly distribution of $0.325 per Common Unit for the three months ended December 28, 2024.  On an annualized basis, this distribution rate equates to $1.30 per Common Unit. The distribution is payable on February 11, 2025 to Common Unitholders of record as of February 4, 2025.

Our anticipated cash requirements for the remainder of fiscal 2025 include: (i) maintenance and growth capital expenditures of approximately $29.8 million for the propane segment; (ii) capital expenditures of approximately $28.6 million to support the construction and development efforts for our renewable energy platform; (iii) interest and income tax payments of approximately $58.0 million; and (iv) cash distributions of approximately $62.9 million to our Common Unitholders, based on the quarterly distribution rate of $0.325 per Common Unit.  Based on our liquidity position, which includes cash on hand, availability of funds under our Revolving Credit Facility and expected cash flow from operating activities, we expect to have sufficient funds to meet our current and future obligations.

 25

Three Months Ended December 28, 2024 Compared to Three Months Ended December 30, 2023

Revenues

    (Dollars and gallons in thousands)
     
    Three Months Ended

    Percent

    December 28,

    December 30,

    Increase

    Increase

    2024

    2023

    (Decrease)

    (Decrease)

    Revenues

    Propane
     
    $
    330,283

    $
    313,358

    $
    16,925

    5.4
    %

    Fuel oil and refined fuels

    17,661

    23,898

    (6,237
    )

    (26.1
    )%

    Natural gas and electricity

    6,053

    6,493

    (440
    )

    (6.8
    )%

    All other

    19,332

    22,085

    (2,753
    )

    (12.5
    )%

    Total revenues