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Ferrellgas Partners' (FGP) CEO Jim Ferrell on Q2 2018 Results - Earnings Call Transcript

Mar. 08, 2018 4:20 PM ETFerrellgas Partners, L.P. (FGPR)10 Comments
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Ferrellgas Partners L.P (FGP) Q2 2018 Earnings Conference Call March 8, 2018 10:00 AM ET


Doran Schwartz - CFO and SVP

Jim Ferrell - Chairman, Interim CEO and President


Tarek Hamid - JPMorgan

James Spicer - Wells Fargo

Mike Gyure - Janney


Good morning. My name is Sherrill, and I will be your conference operator today. At this time, I would like to welcome everyone to the Second Quarter 2018 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions] Thank you.

Mr. Doran Schwartz, Chief Financial Officer, you may begin your conference.

Doran Schwartz

Thank you, Sherrill and welcome to our second quarter earnings call. Thank you for joining us. I expect that everyone has seen our press release announcing our second quarter earnings and operational results. I'd like to remind all of you that some statements made during this call may be considered forward-looking, and that the various risks, uncertainties and other factors could cause actual performance to differ materially from anticipated performance. The risks associated with forward-looking statements have been outlined in the earnings press release and our SEC filings and we incorporate those for this call.

This conference call will also contain non-GAAP financial measures. The reconciliation schedules for these non-GAAP measures as comparable to GAAP measures can be found on our earnings press release which is available on our website.

We are excited to report significant progress on our strategies of growing our business and our cash flows, while deleveraging and strengthening our balance sheet. Highlights include, our internal cost reduction and customer growth initiatives, coupled with favorable weather compared to last year in November and January have grown cash flows with our trailing 12 month EBITDA increasing by $15.6

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Comments (10)

What is happening today?
Large institution selling or ETF related. I have seen this in other stocks. I would buy the dip as it will get back to 4. It may go lower depending on if the seller is done.
Market reacted to this call negatively and pushed stock to new low. No news on credit facility. Bond prices have been relatively stable. I hold but wonder about ability to deal with debt load. Can’t meet earnings forecast. And what are the lawsuits??
Cut div will create more value ultimately this will reward the ceo
"This is positive news and will be rewarded in the share price rising going forward."

Share price is in free-fall. Just too much debt coming due by October.
eeeW profile picture
This is positive news and will be rewarded in the share price rising going forward. I for one do not want to see the dividend cut at all; I want it eventually raised to the level it had if profits continue at this momentum.
What Profits
ganswijkw profile picture
Thankfull that 'old hand' mr Jim Ferrel deretired and took the helm again.
I know. it will take longer but if they cut div then CEO will not make no money. he has no salary at the moment.
Wish they would have completely cut the dividend would have been much lower leveraged by now and been able to refinance if they cut the dividend soon enough and the price goes down I’m probably going to take a minor position
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