Suburban Propane Partners, L.P. Announces Full Year and Fourth Quarter Results – Suburban Propane Partners (NYSE:SPH)

WHIPPANY, N.J., Nov. 13, 2025/ PRNewswire/– Rural Gas Partners, L.P. (NYSE: SPH), today revealed revenues for its complete year and financial 4th quarter ended September 27, 2025

2025 Outcomes

Earnings for financial 2025 was $ 106.6 million, or $ 1.64 per Typical System, compared to $ 74.2 million, or $ 1.15 per Typical System, in financial 2024.

Changed revenues before interest, taxes, devaluation and amortization (” Adjusted EBITDA,” as specified and fixed up listed below) increased $ 28.0 million, or 11.2%, to $ 278.0 million for financial 2025, compared to $ 250.0 million in the previous year.

In revealing these outcomes, President and Ceo Michael A. Stivala stated, “Financial 2025 was an exceptional year for Suburban Gas– providing strong operating outcomes, making ongoing development on the execution of our long-lasting tactical efforts and enhancing our monetary metrics. We experienced strong lp need in the consequences of Hurricanes Helene and Milton, and from extensive winter throughout much of our operating footprint throughout the most crucial months for heat-related need from mid-December through February. Our devoted operating workers were well-prepared and carried out securely and relentlessly in reaction to the increased need, which allowed us to provide a 5.9% boost in volumes offered compared to the previous year. The strong volume efficiency, integrated with efficient margin management throughout an increasing product cost environment and expenditure discipline, added to an 11.2% boost in Adjusted EBITDA compared to the previous year.”

Mr. Stivala continued, “Throughout the , we used excess capital and net earnings under our At-the-Market (” ATM”) equity program to support the development of our core lp operations, advance the buildout of our renewable resource platform, and to minimize financial obligation. In addition to the enhancement in revenues, we continued to advance our long-lasting tactical development efforts in financial 2025. Particularly, we achieved the following tactical goals throughout financial 2025:

• Obtained and incorporated a well-run lp company in tactical markets in New Mexico and Arizona for overall factor to consider of around $ 53.0 million;
• Subsequent to the end of financial 2025, we even more bought the development of our core lp sector with the acquisition of 2 top quality services in appealing markets in California for overall factor to consider of $ 24.0 million;
• Developed a devoted sales and company advancement group concentrated on particular lp verticals that are less weather condition delicate;
• Continued to recognize and cultivate brand-new market growth efforts to develop or extend our existence and grow market share;
• Participated in a multi-year collaboration with NASCAR and Speedway Motorsports, making Suburban Gas the main lp partner of NASCAR and Speedway Motorsports;
• Expanded our sustainable gas (” RNG”) operations group, which allowed us to internally handle essential compliance functions and drive functional and security quality at our RNG production centers; and we continued to advance our capital jobs to build an anaerobic digester system in upstate New York City and set up gas upgrade devices at our existing anaerobic food digestion center in Columbus, Ohio; and
• Introduced an ATM equity program to offer up to $ 100.0 million of freshly provided Typical Systems, raising $ 23.5 million in net earnings from the sale of 1.3 million Typical Systems. Profits from the ATM equity program will continue to be utilized to support our continuous pursuit of opportunistic development and speed up financial obligation decrease.”

Concluding his remarks, Mr. Stivala specified, “In addition to the strong operating efficiency, throughout financial 2025 we started a multi-year innovation modernization effort that will streamline the method we run, combine our systems platform and enhance the tools we utilize to serve our clients– providing a much better experience for both our staff members and our clients, while keeping our customized, regional service design.”

Retail lp gallons offered in financial 2025 amounted to 400.5 million gallons, a boost of 5.9% compared to the previous year. The boost was mainly driven by continual extensive cold temperature levels throughout the most crucial months for heat-related need, increased need for backup power generation and other applications in the Southeast following Hurricanes Helene and Milton, continued development in our counter seasonal nationwide accounts company, and incremental volumes from the Collaboration’s current lp acquisitions. Typical temperature levels (as determined by heating degree days) throughout all of the Collaboration’s service areas for financial 2025 were 9% warmer than typical and 4% cooler than the previous year. Throughout January and February, which are crucial months for heat-related need throughout the heating season, typical temperature levels were similar to typical and 13% cooler than the very same duration in 2015.

Typical lp rates (basis Mont Belvieu, Texas) for financial 2025 increased 5.8% compared to the previous year. Overall gross margins of $ 868.8 million for financial 2025 increased $ 63.8 million, or 7.9%, compared to the previous year. Gross margins for financial 2025 consisted of a latent gain attributable to the mark-to-market modification for acquired instruments utilized in threat management activities of $ 2.4 million, compared to a latent loss of $ 14.6 million in financial 2024. These non-cash modifications, which were reported in expense of items offered, were omitted from Adjusted EBITDA for both durations. Leaving out the effect of these latent mark-to-market modifications, gross margin for financial 2025 increased $ 46.8 million, or 5.7%, compared to the previous year, mainly due to greater lp volumes offered and greater lp system margins. Leaving out the effect of these latent mark-to-market modifications, lp system margins for financial 2025 increased around $ 0.02 per gallon, or 1.0%, compared to the previous year.

Integrated operating and basic and administrative expenditures of $ 590.5 million for financial 2025 increased $ 23.7 million, or 4.2%, compared to the previous year, mainly due to greater payroll and benefit-related expenditures, overtime and other variable operating expense to support the increased activities connected with incremental consumer need, in addition to greater variable payment expenditure connected with the boost in revenues and expenses associated with the innovation change effort.

Changed EBITDA for financial 2025 likewise leaves out the following non-cash modifications: equity in losses and other-than-temporary problems charges in specific unconsolidated affiliates amounting to $ 29.9 million; earnings from the turnaround of an earnout reserve developed in connection with the RNG acquisition of $ 6.2 million; and pension settlement charges of $ 0.5 million, which were reported within Other, net on the declaration of operations.

Throughout financial 2025, the Collaboration used capital from running activities and net earnings of $ 23.5 million from the issuance of Typical Systems under its ATM equity program to money its long-lasting tactical development efforts, consisting of the acquisition of a gas company for overall factor to consider of $ 53.0 million, development capital investment of $ 27.0 million to advance the building and construction activities at its RNG production centers, and payment of exceptional loanings under its revolving credit center of $ 1.8 million The Consolidated Utilize Ratio, as specified in the Collaboration’s revolving credit arrangement, for the ended September 27, 2025 enhanced to 4.29 x, compared to 4.76 x for the ended September 28, 2024

4th Quarter of 2025 Outcomes

Constant with the seasonal nature of the lp company, the Collaboration usually reports a bottom line for its financial 4th quarter. Bottom line for the 4th quarter of financial 2025 was $ 35.1 million, or $ 0.53 per Typical System, compared to a bottom line of $ 44.6 million, or $ 0.69 per Typical System, in financial 2024. Bottom line for the 4th quarter of financial 2025 consisted of a $ 1.0 million latent gain attributable to the mark-to-market modification for acquired instruments utilized in threat management activities, compared to a $ 6.5 million latent loss in the 4th quarter of the previous year. As kept in mind above, these non-cash modifications, which were reported in expense of items offered, were omitted from Adjusted EBITDA for both durations. Changed EBITDA for the 4th quarter of financial 2025 was $ 0.7 million, compared to $ 0.8 million in the 4th quarter of financial 2024. Retail lp gallons offered were 60.8 million gallons for the 4th quarter of financial 2025, which increased 1.8% compared to the previous year 4th quarter.

As formerly revealed on October 23, 2025, the Collaboration’s Board of Supervisors stated a quarterly circulation of $ 0.325 per Typical System for the 3 months ended September 27, 2025. On an annualized basis, this circulation rate corresponds to $ 1.30 per Typical System. The circulation was paid on November 12, 2025, to Typical Unitholders of record since November 4, 2025

About Rural Gas Partners, L.P.
Rural Gas Partners, L.P. (” Rural Gas”) is an openly traded master minimal collaboration noted on the New York Stock Exchange. Headquartered in Whippany, New Jersey, Rural Gas has actually remained in the customer care company considering that 1928 and is an across the country supplier of lp, sustainable lp, sustainable gas (” RNG”), fuel oil and associated services and products, in addition to an online marketer of gas and electrical power and manufacturer of and financier in low carbon fuel options, servicing the energy requirements of around 1 million domestic, business, governmental, commercial and farming clients through around 750 areas throughout 42 states.

Rural Gas is supported by 3 core pillars: (1) Rural Dedication to Quality— showcasing Suburban Gas’s practically 100-year tradition, and continuous dedication to the greatest requirements for reliability, versatility, and dependability that highlights Suburban Gas’s dedication to quality in customer care; (2) SuburbanCares— highlighting continued commitment to returning to regional neighborhoods throughout Suburban Gas’s nationwide footprint; and (3) Go Green with Rural Gas— promoting lp and sustainable lp as flexible, low-carbon energy options and buying the next generation of ingenious, renewable resource options.

For extra details on Suburban Gas, please see www.suburbanpropane.com

Positive Declarations
This news release consists of specific positive declarations associating with future company expectations and monetary condition and outcomes of operations of the Collaboration, based upon management’s existing great faith expectations and beliefs worrying future advancements. These positive declarations go through specific dangers and unpredictabilities that might trigger real outcomes to vary materially from those talked about or suggested in such positive declarations, consisting of the following:

• The effect of climate condition on the need for lp, sustainable lp, fuel oil and other refined fuels, gas, sustainable gas (” RNG”) and electrical power;
• The effect of environment modification and prospective environment modification legislation on the Collaboration and need for lp, fuel oil and other refined fuels, gas, RNG and electrical power;
• Volatility in the system expense of lp, sustainable lp, fuel oil and other refined fuels, gas, RNG and electrical power, the effect of the Collaboration’s hedging and threat management activities, and the unfavorable effect of cost boosts on volumes offered as an outcome of consumer preservation;
• The capability of the Collaboration to take on other providers of lp, sustainable lp, fuel oil, RNG and other energy sources;
• The effect on the cost and supply of lp, fuel oil and other refined fuels from the political, military or financial instability of the oil producing countries, consisting of hostilities in the Middle East, Russian military action in Ukraine, worldwide terrorism and other basic financial conditions, consisting of the financial instability arising from natural catastrophes;
• Financial volatility and slumps, consisting of as an outcome of tariffs and trade dispute and unpredictability;
• The capability of the Collaboration to obtain and preserve adequate volumes of, and the expenses to the Collaboration of getting, dependably carrying and keeping, lp, sustainable lp, fuel oil and other refined fuels;
• The capability of the Collaboration to bring in and keep staff members and essential workers to support the development of our company;
• The capability of the Collaboration to keep clients or obtain brand-new clients;
• The effect of consumer preservation, energy effectiveness, basic financial conditions and innovation bear down the need for lp, fuel oil and other refined fuels, gas, RNG and electrical power;
• The capability of management to continue to manage expenditures and handle inflationary boosts in fuel, labor and other operating expense;
• Dangers associated with the Collaboration’s sustainable fuel jobs and financial investments, consisting of the determination of clients to buy fuels produced by the jobs, the allowing, funding, building and construction, advancement and operation of supporting centers, the Collaboration’s capability to create an enough return on its sustainable fuel jobs, the Collaboration’s reliance on third-party partners to assist handle and run sustainable fuel financial investment jobs, and increased or altering policy and reliance on federal government rewards for business practicality of sustainable fuel financial investment jobs;
• The generation and money making of ecological qualities produced by the Collaboration’s sustainable fuel jobs, modifications to legislation or policies worrying the generation and money making of ecological qualities and rates volatility outdoors markets where ecological qualities are traded;
• The effect of modifications in relevant laws and federal government policies, or their analyses, consisting of those associating with the environment and environment modification, allowing, human health and wellness, acquired instruments, the sale or marketing of lp and sustainable lp, fuel oil and other refined fuels, gas, RNG and electrical power, consisting of the effect of just recently embraced and proposed modifications to New York City law and altered concerns of the U.S. governmental administration, and other regulative advancements that might enforce expenses and liabilities on the Collaboration’s company;
• The effect of modifications in tax laws that might negatively impact the tax treatment of the Collaboration for earnings tax functions;
• The effect of legal dangers and procedures on the Collaboration’s company;
• The effect of running risks that might negatively impact the Collaboration’s credibility and its operating results to the level not covered by insurance coverage;
• The Collaboration’s capability to make tactical acquisitions, effectively incorporate them and understand the anticipated advantages of those acquisitions;
• The capability of the Collaboration and any third-party company on which it might rely for assistance or services to continue to fight cybersecurity risks to their particular and shared networks and infotech;
• Dangers associated with the Collaboration’s strategies to diversify its company;
• Dangers associated with the Collaboration’s existing and future financial obligation responsibilities that might restrict its capability to make circulations to Unitholders, in addition to its monetary versatility;
• The effect of existing conditions in the worldwide capital, credit and ecological quality markets, and basic financial pressures; and
• Other dangers referenced from time to time in filings with the Securities and Exchange Commission (” SEC”) and those elements noted or included by recommendation into the Collaboration’s newest Yearly Report under “Threat Elements.”

A few of these dangers and unpredictabilities are talked about in more information in the Collaboration’s Yearly Report on Kind 10-K for its ended September 28, 2024 and other regular reports submitted with the SEC. Readers are warned not to put unnecessary dependence on positive declarations, which show management’s view just since the date made. The Collaboration carries out no commitment to upgrade any positive declaration, other than as otherwise needed by law.

EBITDA and Changed EBITDA are not acknowledged terms under accounting concepts usually accepted in the United States of America (” United States GAAP”) and need to not be thought about as an option to earnings or net money offered by running activities identified in accordance with United States GAAP. Since EBITDA and Adjusted EBITDA as identified by us leaves out some, however not all, products that impact earnings, they might not be similar to EBITDA and Adjusted EBITDA or likewise entitled steps utilized by other business.

The following table state our computations of EBITDA and Adjusted EBITDA:

We likewise reference gross margins, calculated as earnings less expense of items offered as those quantities are reported on the combined monetary declarations. Our management utilizes gross margin as an additional step of running efficiency and we are including it as our company believe that it supplies our financiers and market experts with extra details that we identified works to assess our operating outcomes. As expense of items offered does not consist of devaluation and amortization expenditure, the gross margin we reference is thought about a non-GAAP monetary step.

The unaudited monetary details consisted of in this file is meant just as a summary attended to your benefit, and need to read in combination with the total combined monetary declarations of the Collaboration (consisting of the Notes thereto, which stated essential details) included in its Yearly Report on Kind 10-K to be submitted by the Collaboration with the SEC. Such report, as soon as submitted, will be offered on the general public EDGAR electronic filing system preserved by the SEC.

SOURCE Suburban Gas Partners, L.P.