Company did not provide specific guidance for future quarters or the full year
Overview
U.S. home energy distributor's fiscal Q3 revenue rose 17% yr/yr on higher selling prices
Company's net loss widened, mainly due to unfavorable derivative changes and higher expenses
Home heating oil and propane volumes fell 9% yr/yr, offsetting gains from acquisitions, colder weather
Key Details
Metric
Actual
Q3 Sales
$358.07 mln
Q3 Net Loss
$27.99 mln
Q3 Adjusted EBITDA
-$17.72 mln
Q3 Operating Income
-$34.07 mln
Q3 Pretax Loss
$37.92 mln
Result Drivers
Higher selling prices - Revenue growth driven by increased average selling prices due to higher wholesale product costs
Volume decline - Home heating oil and propane volumes fell 9% as net customer attrition and other factors outweighed gains from acquisitions and colder weather
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