SUBURBAN PROPANE PARTNERS LPSPHEarnings & Financial Report
Suburban Propane Partners LP is a leading U.S. distributor of propane, natural gas, heating oil and related energy products, serving residential, commercial, industrial and agricultural customers across the country. It also provides HVAC system installation, maintenance and repair services, catering mainly to suburban and off-grid communities.
Revenue
$587.7M
Gross Profit
$345.3M
Operating Profit
$158.4M
Net Profit
$137.1M
Gross Margin
58.8%
Operating Margin
27.0%
Net Margin
23.3%
YoY Growth
18.0%
EPS
$2.10
SUBURBAN PROPANE PARTNERS LP Q2 FY2025 Financial Summary
SUBURBAN PROPANE PARTNERS LP reported revenue of $587.7M (up 18.0% YoY) for Q2 FY2025, with a net profit of $137.1M (up 23.0% YoY) (23.3% margin). Cost of goods sold was $242.4M, operating expenses totaled $186.9M.
Key Financial Metrics
| Total Revenue | $587.7M |
|---|---|
| Net Profit | $137.1M |
| Gross Margin | 58.8% |
| Operating Margin | 27.0% |
| Report Period | Q2 FY2025 |
Revenue Breakdown
SUBURBAN PROPANE PARTNERS LP Q2 FY2025 revenue of $587.7M breaks down across 5 segments, led by Propane at $525.3M (89.4% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Propane | $525.3M | 89.4% |
| Fuel Oil And Refined Fuels | $33.4M | 5.7% |
| Other Sales Revenue Net | $20.0M | 3.4% |
| Wholesale | $16.3M | 2.8% |
| Natural Gas And Electricity | $9.0M | 1.5% |
SUBURBAN PROPANE PARTNERS LP Revenue by Segment — Quarterly Trend
SUBURBAN PROPANE PARTNERS LP revenue by segment across the last 4 reported quarters, showing how each business line (such as Propane and Fuel Oil And Refined Fuels) has evolved quarter over quarter.
| Segment | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 |
|---|---|---|---|---|
| Propane | $326.4M | $183.1M | $226.9M | $525.3M |
| Fuel Oil And Refined Fuels | $18.2M | $6.6M | $9.7M | $33.4M |
| Other Sales Revenue Net | $19.9M | $17.0M | $18.7M | $20.0M |
| Wholesale | $4.1M | $2.7M | $6.6M | $16.3M |
| Natural Gas And Electricity | $5.9M | $4.7M | $4.8M | $9.0M |
SUBURBAN PROPANE PARTNERS LP Annual Revenue by Year
SUBURBAN PROPANE PARTNERS LP annual revenue history includes year-by-year totals (for example, 2025 revenue was $1.4B).
| Year | Annual Revenue |
|---|---|
| 2025 | $1.4B |
| 2024 | $1.3B |
| 2023 | $1.4B |
| 2022 | $1.5B |
SUBURBAN PROPANE PARTNERS LP Quarterly Revenue & Net Profit History
SUBURBAN PROPANE PARTNERS LP results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q1 FY2026 | $370.4M | -0.8% | $45.8M | 12.4% |
| Q4 FY2025 | $211.4M | +1.3% | $-35.1M | -16.6% |
| Q3 FY2025 | $260.1M | +2.2% | $-14.8M | -5.7% |
| Q2 FY2025 | $587.7M | +18.0% | $137.1M | 23.3% |
| Q1 FY2025 | $373.3M | +2.0% | $19.4M | 5.2% |
| Q4 FY2024 | $208.6M | -7.9% | $-44.6M | -21.4% |
| Q3 FY2024 | $254.6M | -8.6% | $-17.2M | -6.8% |
| Q2 FY2024 | $498.1M | -5.4% | $111.5M | 22.4% |
Income Statement
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $498.1M | $254.6M | $208.6M | $373.3M | $587.7M | $260.1M | $211.4M | $370.4M |
| YoY Growth | -5.4% | -8.6% | -7.9% | 2.0% | 18.0% | 2.2% | 1.3% | -0.8% |
Balance Sheet
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $2.34B | $2.28B | $2.27B | $2.38B | $2.40B | $2.31B | $2.30B | $2.40B |
| Liabilities | $1.69B | $1.68B | $1.73B | $1.84B | $1.73B | $1.67B | $1.70B | $1.77B |
| Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Cash Flow
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $75.1M | $61.4M | $36.8M | $8.8M | $40.1M | $95.5M | $41.8M | $-47.7M |