Filing Flows › Suburban Propane Partners LP (SPH) › Q2 FY26
Suburban Propane Partners LP (SPH) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed May 7, 2026
Suburban Propane Partners LP (SPH) reported revenue of $551M for the second quarter fiscal 2026 (Q2 FY26), -6% from a year earlier and +49% from the quarter before. Operating margin was 28.6%, net earnings $138M (25.0% of revenue).
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 follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $551M | +49% | -6% |
| Operating profit | $158M | +133% | -0.3% |
| Net earnings | $138M | +200% | +0.3% |
| Operating cash flow | $116M | — | +190% |
| Free cash flow | $91.5M | — | +340% |
What changed
Revenue was $551.2M in Q2 FY26, down 6% year over year and up 49% from the previous quarter. Propane was the largest line at 89% of revenue. Propane lost $34.1M year over year (down 6%), 94% of the total change.
Operating profit was $157.9M, a 28.6% margin (up 1.7 points year over year). Total costs fell 8% while revenue fell 6%. Net earnings were $137.5M, roughly flat year over year. The effective tax rate was 0.1%.
Operating cash flow was $116.3M (up 190% year over year), 85% of net earnings. Non-cash charges added back $16.3M of depreciation and amortization. Working capital and other items used $37.5M. Capital expenditures of $24.7M left free cash flow of $91.5M.
Questions
What was Suburban Propane Partners LP's revenue in the second quarter fiscal 2026?
Suburban Propane Partners LP (SPH) reported revenue of $551M for the second quarter fiscal 2026 (Q2 FY26), -6% from a year earlier and +49% from the quarter before.
Was Suburban Propane Partners LP profitable in the second quarter fiscal 2026?
Operating profit was $158M (28.6% of revenue) and net earnings $138M.