Ferrellgas Partners of Kansas City said revenue in its recent quarter rose 20 percent, to $722.1 million, but earnings were up just 1.6 percent because of higher propane and gas costs.
“I am extremely pleased with the way our propane operations team performed during what proved to be a very challenging quarter,” Chief Executive Steve Wambold said in the earnings release.
Ferrellgas is one of the nation’s largest propane distributors, including its Blue Rhino grilling tanks.
For the quarter ended April 30, Ferrellgas Partners earned $45.4 million, or 57 cents a unit, up from a year-ago $44.7 million, or 56 cents a unit. Its partnership units trade like shares of stock.