Ferrellgas Partners Finance Swings to $75.3M Profit in H1 2026
Ferrellgas Partners Finance Corp., a wholly-owned subsidiary of propane distributor Ferrellgas Partners, posted net income of $75.3 million for the six months ending January 31, reversing a $47.8 million loss in the prior-year period. Revenue fell 3.6% to $996.6 million.
Ferrellgas Partners Finance Corp., a wholly-owned subsidiary of propane distributor Ferrellgas Partners (Delaware), reported net income of $75.3 million for the six months ending January 31, 2026, a sharp reversal from a net loss of $47.8 million in the same period a year earlier. The company posted revenue of $996.6 million, down 3.6% from $1.03 billion in the prior-year period. Read more earnings reports.
Operating income surged to $138.0 million from $4.7 million in the six months ending January 31, 2025. For the three months ending January 31, 2026, net income reached $102.2 million compared to $98.8 million in the prior-year quarter, while quarterly revenue declined 4.2% to $641.4 million from $669.8 million.
Balance Sheet Shifts
Total assets climbed to $1.54 billion as of January 31, 2026, up from $1.42 billion at the end of fiscal year 2025 on July 31. Current assets expanded to $453.5 million from $342.7 million, driven by a jump in accounts receivable to $238.6 million from $127.5 million. Cash and restricted cash declined to $88.4 million from $96.9 million.
Long-term debt increased to $1.45 billion from $815.5 million, while total long-term debt stood at $1.48 billion compared to $1.48 billion in the prior period. Current liabilities dropped sharply to $350.8 million from $914.5 million, as accounts payable more than doubled to $74.5 million from $31.1 million.
Cash Flow Performance
Cash from operations turned positive at $32.2 million for the six months ending January 31, 2026, compared to a cash outflow of $1.4 million in the prior-year period. Cash used in investing activities totaled $43.3 million, slightly below $44.3 million a year earlier. Cash from financing activities was $2.6 million versus a cash outflow of $39.1 million in the prior-year period.
Financial Summary
| Period Ending January 31 | 2026 (6 months) | 2025 (6 months) |
|---|---|---|
| Revenue | $996.6 million | $1,033.9 million |
| Operating Income | $138.0 million | $4.7 million |
| Net Income (Loss) | $75.3 million | ($47.8 million) |
| Cash from Operations | $32.2 million | ($1.4 million) |
| Total Assets | $1,543.3 million | $1,416.7 million* |
| Long-Term Debt | $1,453.9 million | $815.5 million* |
*As of July 31, 2025
Inventory declined to $85.5 million as of January 31, 2026, from $87.8 million at fiscal year-end. Property, plant, and equipment edged down to $598.8 million from $602.7 million. Goodwill remained flat at $257.2 million, while intangible assets decreased to $102.8 million from $106.5 million.
Ferrellgas Partners Finance Corp. was formed on March 28, 1996, and operates as a financing subsidiary within the Ferrellgas partnership structure. The company had 1,000 common shares outstanding as of January 31, 2026, unchanged from the prior fiscal year-end.