Ferrellgas Posts Lower Q1 Loss, But Revenue Edges Down

(RTTNews) - Ferrellgas Partners, L.P. (FGP), a propane supplier, on Friday reported a narrower first-quarter loss, helped by lower expenses, though revenue decreased.

Net loss attributable to Ferrellgas Partners was $26.93 million, compared with a loss of $146.67 million in the same quarter last year. The prior-year results included a $125 million Eddystone litigation settlement.

Class A unitholders' interest in net loss was $43.14 million, or $8.88 per Class A unit, improving from a loss of $161.43 million, or $33.23 per Class A unit, a year earlier.

The company recorded an operating income of $1.87 million compared with an operating loss of $122.93 million a year ago.

Quarterly revenue declined to $355.19 million from $364.09 million a year ago.

Ferrellgas Partners units closed at $18.95 on Thursday, up 0.06%.