Filing Flows › Suburban Propane Partners LP (SPH) › Q1 FY26
Suburban Propane Partners LP (SPH) Q1 FY26 earnings results (first quarter fiscal 2026)
10-Q filed Feb 5, 2026
Suburban Propane Partners LP (SPH) reported revenue of $370M for the first quarter fiscal 2026 (Q1 FY26), -0.8% from a year earlier and +75% from the quarter before. Operating margin was 18.3%, net earnings $45.8M (12.4% of revenue).
Suburban Propane Partners LP, Q1 FY26: revenue $370M (-0.8% year over year), operating margin 18.3%, net earnings $45.8M, operating cash flow −$47.7M. The chart follows the revenue to costs, profit and cash.
| Q1 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $370M | +75% | -0.8% |
| Operating profit | $67.7M | — | +15% |
| Net earnings | $45.8M | — | +136% |
| Operating cash flow | −$47.7M | -214% | — |
What changed
Revenue was $370.4M in Q1 FY26, down 1% year over year and up 75% from the previous quarter. Propane was the largest line at 88% of revenue. Propane lost $3.9M year over year (down 1%), 132% of the total change.
Operating profit was $67.7M, a 18.3% margin (up 2.4 points year over year). Total costs fell 4% while revenue fell 1%. Net earnings were $45.8M, up 136% year over year. The effective tax rate was 0.5%.
Operating cash flow was −$47.7M. Non-cash charges added back $16.9M of depreciation and amortization. Working capital and other items used $110.3M. Capital expenditures of $19.8M exceeded it, leaving free cash flow of −$67.5M.
Questions
What was Suburban Propane Partners LP's revenue in the first quarter fiscal 2026?
Suburban Propane Partners LP (SPH) reported revenue of $370M for the first quarter fiscal 2026 (Q1 FY26), -0.8% from a year earlier and +75% from the quarter before.
Was Suburban Propane Partners LP profitable in the first quarter fiscal 2026?
Operating profit was $67.7M (18.3% of revenue) and net earnings $45.8M.