NEW YORK (TheStreet) -- Ferrellgas Partners (FGP) shares closed trading up 2.2% to $22.80 on Tuesday following the release of the propane distributor's third quarter earnings results.
Ferrellgas Partners reported first quarter earnings of 43 cents per share, missing analysts' expectations for the period of 61 cents per share by 18 cents.
Revenue for the period fell 26.2% to $532.6 million, also well short of analysts' $620.85 million expectations.
Despite the wide misses the company maintained its full year EBITDA guidance between $300 million and $320 million, in line with analysts' expectations.
TheStreet Ratings team rates FERRELLGAS PARTNERS -LP as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate FERRELLGAS PARTNERS -LP (FGP) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its increase in net income, good cash flow from operations and growth in earnings per share. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself and poor profit margins."
Highlights from the analysis by TheStreet Ratings Team goes as follows:
- You can view the full analysis from the report here: FGP Ratings Report