Ferrellgas Profit Hit by $24.7M Casualty Payouts

The Headline: Earnings Down on One-Time Costs, Not Operations

Ferrellgas Partners, L.P. (OTC: FGPR) reported net earnings of $28.0 million for its fiscal third quarter ended April 30, 2026, a drop of $31.1 million, or about 53%, from $59.1 million a year earlier. The headline decline would worry anyone scanning the headline alone. The better read separates the operating story from the non-recurring charge.

The entire $29.0 million increase in operating expense that drove the earnings hit came from three buckets: $24.7 million in plant and other costs, $3.6 million in vehicle expense, and $0.7 million in personnel costs. The biggest line, the plant and other increase, was caused by