Ferrellgas CEO says working to address capital structure; shares -18%
Sep. 27, 2018 2:39 PM ETFerrellgas Partners, L.P. (FGPR)FGPRBy: Carl Surran, SA News Editor14 Comments
- Ferrellgas Partners (FGP -15.6%) plunges as much as 26% to a record low after Q4 adjusted EBITDA declines 210 bps to 2.3% and missing the lowest analyst estimate.
- Interim CEO Jim Ferrell said on today's earnings call that FGP needs to address its capital structure and is working on it although not via "short term band-aids," saying the company is focused on long-term solutions even if it affects the distribution.
- Ferrell said FGP would not do anything that does not benefit the long-term viability of the company.