Filing Flows › Suburban Propane Partners LP (SPH) › Q2 FY26 › vs Q1 FY26
Suburban Propane Partners LP (SPH) Q2 FY26 vs Q1 FY26 (quarter over quarter)
Suburban Propane Partners LP's revenue rose $181M (+49%) from $370M in Q1 FY26 to $551M in Q2 FY26. The biggest changes: Propane +$165M (+50%); Fuel Oil and Refined Fuels +$14.2M (+78%); Natural Gas and Electricity +$2.9M (+49%). Operating margin 28.6% against 18.3% (+10.4 pts).
Suburban Propane Partners LP, Q2 FY26: revenue $551M (-6% year over year), operating margin 28.6%, net earnings $138M, operating cash flow $116M. The chart draws each line against Q1 FY26, the increases inside each band.
Margins
| Q2 FY26 | Q1 FY26 | Change | |
|---|---|---|---|
| Operating margin | 28.6% | 18.3% | +10.4 pts |
| Net margin | 25.0% | 12.4% | +12.6 pts |
| Free cash flow margin | 16.6% | -18.2% | +34.8 pts |
Every line
| Line | Q2 FY26 | Q1 FY26 | Change | % |
|---|---|---|---|---|
| Propane | $491M | $326M | $165M | +50% |
| Fuel Oil and Refined Fuels | $32.4M | $18.2M | $14.2M | +78% |
| Other Sales Revenue Net | $18.9M | $19.9M | −$998K | -5% |
| Natural Gas and Electricity | $8.8M | $5.9M | $2.9M | +49% |
| Revenue | $551M | $370M | $181M | +49% |
| Operating profit | $158M | $67.7M | $90.3M | +133% |
| Costs & expenses | $393M | $303M | $90.6M | +30% |
| Pre-tax earnings | $138M | $46.0M | $91.7M | +199% |
| Other expense, net | $20.2M | $21.6M | −$1.4M | -6% |
| Cost of revenue | $208M | $131M | $76.7M | +59% |
| General & admin | $30.0M | $27.9M | $2.2M | +8% |
| Other operating costs | $156M | $144M | $11.7M | +8% |
| Net earnings | $138M | $45.8M | $91.8M | +200% |
| Income tax | $120K | $231K | −$111K | -48% |
| Depreciation & amortization | $16.3M | $16.9M | −$613K | -4% |
| Working capital & other | $37.5M | $110M | −$72.8M | -66% |
| Operating cash flow | $116M | −$47.7M | $164M | — |
| Free cash flow (OCF − capex) | $91.5M | −$67.5M | $159M | — |
| Capital expenditures | $24.7M | $19.8M | $4.9M | +25% |
Questions
How much did Suburban Propane Partners LP's revenue grow quarter over quarter in Q2 FY26?
Suburban Propane Partners LP's revenue rose $181M (+49%) from $370M in Q1 FY26 to $551M in Q2 FY26.
What drove Suburban Propane Partners LP's revenue change in Q2 FY26?
Propane +$165M (+50%); Fuel Oil and Refined Fuels +$14.2M (+78%); Natural Gas and Electricity +$2.9M (+49%).