Ferrellgas Part SEC Filings

Ferrellgas Partners, L.P. reported softer top-line results but much stronger profitability for the quarter and nine months ended April 30, 2026. Revenue for the nine-month period was $1.52 billion, down from $1.59 billion, as propane and other gas liquids sales eased. Despite this, lower product costs and tighter cost control lifted operating income to $198.1 million, up from $92.0 million, and net earnings to $103.9 million from $10.9 million. Operating cash flow rose to $150.7 million, supporting capital spending and preferred unit distributions.

The company refinanced its capital structure by redeeming $650.0 million of 5.375% senior notes due 2026 with new 9.250% senior notes due 2031 and extended its secured credit facility to 2028 with a $350.0 million borrowing capacity. Short-term borrowings under the facility were $87.5 million at a 6.674% rate, and total debt was $1.48 billion. Ferrellgas continues to carry a significant partners’ deficit but maintained compliance with all debt covenants.

Ferrellgas Partners, L.P. reported mixed results for its third fiscal quarter ended April 30, 2026. Revenue fell to $524.6 million from $560.8 million, but gross profit inched up to $291.4 million as propane prices declined and product costs dropped more than revenue.

Net earnings attributable to the partnership declined to $28.0 million from $59.1 million, and Adjusted EBITDA fell to $102.1 million from $114.8 million, largely due to higher operating expenses, including non-recurring casualty claim settlements. The company completed conversion of 1.3 million Class B Units into 6.5 million Class A Units after a final $107.0 million distribution, simplifying its capital structure and redirecting future cash flows toward debt reduction and investment.

Ferrellgas Partners L.P. director Andrew Safran received a grant of 1,019 Phantom Units, each representing the economic equivalent of one Class A Unit. The award was granted at no exercise price and accrues dividend equivalent rights.

The Phantom Units vest on October 9, 2026. After vesting, each unit entitles Safran to a cash payment following the earlier of leaving the Board, a change of control, or October 9, 2028, based on the average closing price of a Class A Unit over the 10 trading days before that event.

Ferrellgas Partners, L.P. and its affiliated entities filed an update stating that the company will host an online teleconference on June 5, 2026 to discuss results of operations for the third fiscal quarter ended April 30, 2026. The webcast will begin at 9:00 a.m. Central Time (10:00 a.m. Eastern Time), and investors can listen via the provided web link and submit questions through the company’s investor relations email address.

Ferrellgas Partners, L.P. director Andrew Safran filed a Form 3, which is the required initial statement of beneficial ownership for new insiders. This filing lists him as a director but shows no reported share holdings or insider transactions at the time of the report.

Ferrellgas Partners, L.P. reported board and leadership updates alongside details of an advisory agreement. Andrew Safran was appointed to the Board of Ferrellgas, Inc., general partner of Ferrellgas Partners, L.P. and Ferrellgas, L.P., bringing decades of investment banking and energy‑sector experience.

Safran is the principal contact under a consulting agreement between the Company and Crito Capital LLC, under which the Company will pay a $40,000 monthly fee for at least 12 months beginning July 2025 plus additional transaction-based fees capped at $7 million in total, and reimburse documented expenses. He will receive customary director compensation and indemnification and is not initially expected to join any board committee.

A press release also highlighted succession planning moves, including Safran’s appointment and naming existing director Pamela A. Breuckmann as Vice Chair of the Board, while Chairman Jim Ferrell continues in his role. The release notes prior refinancing of Senior Notes due 2026, renewal and extension of the credit agreement, and conversion of all outstanding Class B Units into Class A Units, which the Company states have improved financial flexibility and simplified its capital structure.

Ferrellgas Partners, L.P. reports that on May 18, 2026, J. Carney Hawks was removed from the Board of Directors of Ferrellgas, Inc., the general partner of Ferrellgas Partners, L.P. and Ferrellgas, L.P.

The company states that Mr. Hawks’ removal was not related to any disagreement over operations, policies, or practices. He had been appointed in 2021 under a voting agreement giving holders of Class B Units the right to designate one independent director. That right ended after all Class B Units were converted into Class A Units on March 16, 2026.

Ferrellgas Partners director Hawks Carney reported a series of equity compensation transactions involving Class A Units and Phantom Units. On May 18, 2026, he exercised 12,729 Phantom Units into the economic equivalent of Class A Units and then returned 12,729 Class A Units to the issuer, leaving him with 61,524 Class A Units held directly. The Phantom Units, each representing the economic equivalent of one Class A Unit, had vested on September 25, 2025 and became payable in cash based on the average closing price before May 18, 2026, but were forfeited on that date under the Phantom Unit Award Agreement.

Ferrellgas Partners director Pamela A. Breuckmann reported non-cash conversions of Class B Units into Class A Units. On March 16, 2026, 377 Class B Units held directly and 531 Class B Units held through the Pamela A. Breuckmann Revocable Trust were converted into Class A Units at a rate of five Class A Units for each Class B Unit. Following these conversions, she held 1,891 Class A Units directly and 4,744 Class A Units indirectly through the trust. All outstanding Class B Units of the issuer were converted to Class A Units on this date, and no Class B Units remain outstanding for this reporting person.