Suburban Propane Reports Seasonal Loss Amid Record Warm April

The company’s performance was hampered by near-record heat in April, which ranked as the second-warmest on record for the service territories. This climate shift led to a 1.8% decline in retail propane volume, totaling 70.6 million gallons. Adjusted EBITDA fell to $18.0 million from $27.0 million in the same period last year, despite efforts to manage operating costs and steady unit margins.

CEO Michael A. Stivala noted that growth in the counter-seasonal customer base helped mitigate the impact of the mild weather. The firm continues to pivot toward its renewable natural gas operations, with a new anaerobic digester facility in Upstate New York coming online and a similar project in Columbus, Ohio, slated for activation in the fourth quarter. The company utilized cash flow and its equity program to reduce debt by more than $36 million during the period.