Suburban Propane Partners LP (SPH) financial statements: income statement, balance sheet and cash flow

Suburban Propane Partners LP's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Sep 27, 2025 · FY), Suburban Propane Partners LP reported revenue of $1.4B (+7.9% year on year) and net income of $106.6M (+43.7% year on year).

Income statement

Suburban Propane Partners LP income statement, fiscal years

Line item	Sep 27, 2025 · FY	Sep 28, 2024 · FY	Sep 30, 2023 · FY	Sep 24, 2022 · FY
Total Revenues	$1.4B	$1.3B	$1.4B	$1.5B
Cost of products sold	$563.7M	$522.2M	$590.1M	$712.1M
Operating	$494.1M	$476.9M	$478.1M	$442.4M
General and administrative	$96.4M	$89.9M	$91.6M	$81.8M
Depreciation and amortization	$72.0M	$67.0M	$62.6M	$58.8M
Total Expenses	$1.2B	$1.2B	$1.2B	$1.3B
Operating income	$206.3M	$171.3M	$206.8M	$206.3M
Loss on debt extinguishment	$0	$215.0K	$0	$0
Interest expense, net	$76.3M	$74.6M	$73.4M	$60.7M
Other, net	$22.1M	$21.5M	$9.0M	$5.5M
Income before provision for income taxes	$107.9M	$74.9M	$124.4M	$140.1M
Provision for income taxes	$1.3M	$734.0K	$668.0K	$429.0K
Net income	$106.6M	$74.2M	$123.8M	$139.7M
Net income per Common Unit - basic	$1.64	$1.15	$1.94	$2.21
Weighted average number of Common Units outstanding - basic	65.1M	64.3M	63.8M	63.2M
Net income per Common Unit - diluted	$1.62	$1.14	$1.92	$2.18
Weighted average number of Common Units outstanding - diluted	65.6M	64.8M	64.4M	64.0M

Suburban Propane Partners LP income statement, quarters

Line item	Jun 27, 2026 · Q3	Mar 28, 2026 · Q2	Dec 27, 2025 · Q1	Jun 28, 2025 · Q3
Total Revenues	$261.4M	$551.2M	$370.4M	$260.1M
Cost of products sold	$101.1M	$207.5M	$130.8M	$99.6M
Operating	$125.0M	$139.5M	$127.2M	$117.5M
General and administrative	$16.5M	$30.0M	$27.9M	$18.7M
Depreciation and amortization	$16.7M	$16.3M	$16.9M	$18.7M
Total Expenses	$259.2M	$393.3M	$302.7M	$254.6M
Operating income	$2.2M	$157.9M	$67.7M	$5.6M
Loss on debt extinguishment	$0	$0	$1.2M	$0
Interest expense, net	$18.8M	$19.7M	$19.8M	$18.9M
Other, net	$721.0K	$555.0K	$701.0K	$1.3M
Income before provision for income taxes	($17.3M)	$137.7M	$46.0M	($14.6M)
Provision for income taxes	$182.0K	$120.0K	$231.0K	$242.0K
Net income	($17.5M)	$137.5M	$45.8M	($14.8M)
Net income per Common Unit - basic	-$0.26	$2.07	$0.69	-$0.23
Weighted average number of Common Units outstanding - basic	66.7K	66.6K	66.3K	65.4K
Net income per Common Unit - diluted	-$0.26	$2.06	$0.69	-$0.23
Weighted average number of Common Units outstanding - diluted	66.7K	66.9K	66.5K	65.4K

Balance sheet

Suburban Propane Partners LP balance sheet, fiscal years

Line item	Sep 27, 2025 · FY	Sep 28, 2024 · FY	Sep 30, 2023 · FY	Sep 24, 2022 · FY
Cash and cash equivalents	$405.0K	$3.2M	$3.5M	$4.1M
Accounts receivable, less allowance for doubtful accounts of $5,107 and $4,707, respectively	$69.5M	$66.4M	$67.7M	$78.5M
Inventories	$73.7M	$55.4M	$61.8M	$66.9M
Other current assets	$22.7M	$32.5M	$31.0M	$25.3M
Total current assets	$166.3M	$157.5M	$164.0M	$174.9M
Property, plant and equipment, net	$691.3M	$654.0M	$646.1M	$563.8M
Operating lease right-of-use assets	$119.0M	$140.2M	$142.9M	$136.6M
Goodwill	$1.2B	$1.2B	$1.1B	$1.1B
Other intangible assets, net	$84.8M	$74.5M	$80.6M	$40.0M
Other assets	$77.1M	$95.2M	$88.2M	$75.1M
Total assets	$2.3B	$2.3B	$2.3B	$2.1B
Accounts payable	$45.0M	$41.1M	$40.0M	$35.2M
Accrued employment and benefit costs	$47.1M	$40.4M	$45.1M	$43.3M
Accrued insurance	$10.5M	$12.5M	$11.6M	$10.1M
Customer deposits and advances	$121.7M	$126.6M	$127.3M	$127.6M
Operating lease liabilities	$34.3M	$35.6M	$33.6M	$32.1M
Accrued interest	$16.3M	$15.9M	$16.9M	$12.3M
Other current liabilities	$27.9M	$34.0M	$33.4M	$45.9M
Total current liabilities	$302.8M	$306.1M	$307.8M	$306.6M
Long-term borrowings	$1.2B	$1.2B	$1.2B	$1.1B
Accrued insurance	$46.2M	$45.6M	$49.6M	$53.9M
Operating lease liabilities	$83.7M	$103.8M	$108.5M	$103.7M
Other liabilities	$53.2M	$59.9M	$70.0M	$64.6M
Total liabilities	$1.7B	$1.7B	$1.7B	$1.6B
Common Unitholders (65,845 and 64,072 units issued and outstanding at September 27, 2025 and September 28, 2024, respectively)	$604.1M	$553.2M	$557.0M	$510.1M
Accumulated other comprehensive loss	($5.5M)	($6.1M)	($10.7M)	($12.6M)
Total partners' capital	$598.6M	$547.1M	$546.4M	$497.5M
Total liabilities and partners' capital	$2.3B	$2.3B	$2.3B	$2.1B

Suburban Propane Partners LP balance sheet, quarters

Line item	Jun 27, 2026	Mar 28, 2026	Dec 27, 2025	Jun 28, 2025
Cash and cash equivalents	$5.0M	$4.3M	$1.3M	$1.3M
Accounts receivable, less allowance for doubtful accounts of $6,807 and $5,107 respectively	$84.7M	$148.1M	$129.3M	$79.9M
Inventories	$65.9M	$63.5M	$69.3M	$60.4M
Other current assets	$38.3M	$51.5M	$36.2M	$33.5M
Total current assets	$194.0M	$267.5M	$236.0M	$175.2M
Property, plant and equipment, net	$722.4M	$717.5M	$711.2M	$689.5M
Operating lease right-of-use assets	$104.8M	$106.5M	$113.4M	$123.6M
Goodwill	$1.2B	$1.2B	$1.2B	$1.2B
Other intangible assets, net	$84.2M	$87.5M	$90.7M	$87.8M
Other assets	$85.8M	$82.7M	$79.4M	$80.7M
Total assets	$2.4B	$2.4B	$2.4B	$2.3B
Accounts payable	$37.2M	$44.9M	$47.9M	$26.9M
Accrued employment and benefit costs	$48.5M	$44.0M	$37.9M	$46.7M
Customer deposits and advances	$90.9M	$63.4M	$104.7M	$90.4M
Operating lease liabilities	$29.9M	$31.0M	$32.8M	$35.1M
Other current liabilities	$41.5M	$64.5M	$49.3M	$51.6M
Total current liabilities	$247.9M	$247.8M	$272.6M	$250.6M
Long-term borrowings	$1.2B	$1.3B	$1.3B	$1.2B
Accrued insurance	$49.8M	$50.8M	$44.6M	$45.2M
Operating lease liabilities	$73.9M	$74.6M	$79.7M	$87.6M
Other liabilities	$47.5M	$50.6M	$50.1M	$59.7M
Total liabilities	$1.6B	$1.7B	$1.8B	$1.7B
Common Unitholders (66,712 and 65,485 units issued and outstanding at June 27, 2026 and September 27, 2025, respectively)	$718.8M	$749.6M	$631.8M	$652.2M
Accumulated other comprehensive loss	($5.8M)	($5.7M)	($5.6M)	($6.0M)
Total partners’ capital	$713.0M	$743.9M	$626.2M	$646.1M
Total liabilities and partners’ capital	$2.4B	$2.4B	$2.4B	$2.3B

Cash flow statement

Suburban Propane Partners LP cash flow statement, fiscal years

Line item	Sep 27, 2025 · FY	Sep 28, 2024 · FY	Sep 30, 2023 · FY	Sep 24, 2022 · FY
Net Income	$106.6M	$74.2M	$123.8M	$139.7M
Depreciation and amortization	$72.0M	$67.0M	$62.6M	$58.8M
Equity in losses and impairment charges for investments in unconsolidated affiliates	$29.9M	$18.1M	—	—
Compensation costs recognized under Restricted Unit Plans	$7.8M	$8.2M	$8.3M	$11.3M
Pension settlement charge	$528.0K	$638.0K	$0	$840.0K
Loss on debt extinguishment	$0	$215.0K	$0	$0
Other, net	$4.5M	$4.1M	$7.8M	$3.0M
Accounts receivable	($4.1M)	$1.3M	$15.1M	($7.1M)
Inventories	($14.1M)	$6.6M	$5.1M	($4.8M)
Other current and noncurrent assets	$18.6M	($2.8M)	$6.1M	($5.4M)
Accounts payable	$939.0K	$1.1M	($206.0K)	($4.3M)
Accrued employment and benefit costs	$6.3M	($5.2M)	$1.5M	$2.3M
Accrued insurance	($1.4M)	($3.1M)	($2.9M)	($2.1M)
Customer deposits and advances	($4.8M)	($741.0K)	($281.0K)	$15.9M
Contributions to defined benefit pension plan	($4.0M)	($4.0M)	($4.0M)	($3.3M)
Other current and noncurrent liabilities	($32.5M)	($4.9M)	$2.4M	$15.8M
Net cash provided by operating activities	$186.3M	$160.6M	$225.2M	$220.5M
Capital expenditures	($72.0M)	($59.4M)	($44.9M)	($44.4M)
Investments in and acquisitions of businesses	($59.5M)	($25.2M)	($130.1M)	($56.1M)
Proceeds from sale of property, plant and equipment	$3.2M	$2.9M	$4.4M	$5.2M
Net cash (used in) investing activities	($128.3M)	($81.6M)	($170.6M)	($94.4M)
Proceeds from borrowings under revolving credit facility	$459.2M	$626.0M	$525.7M	$386.6M
Repayments of borrowings under revolving credit facility	($461.0M)	($607.0M)	($483.3M)	($429.0M)
Issuance costs associated with long-term borrowings	$0	($3.7M)	$0	$0
Proceeds from the issuance of Common Units under an at-the-market equity program, net of commissions and offering costs	$23.5M	—	—	—
Partnership distributions	($84.2M)	($83.1M)	($82.4M)	($81.7M)
Other, net	($4.2M)	($4.7M)	($4.6M)	($3.7M)
Net cash (used in) financing activities	($66.7M)	($72.5M)	($44.6M)	($127.8M)
Net (decrease) increase in cash, cash equivalents and restricted cash	($8.7M)	$6.4M	$10.0M	($1.7M)
Cash, cash equivalents and restricted cash at beginning of period	$20.5M	$14.1M	$4.1M	$5.8M
Cash, cash equivalents and restricted cash at end of period	$11.8M	$20.5M	$14.1M	—
Less: restricted cash	$11.4M	$17.3M	$10.6M	—
Cash and cash equivalents, end of period	$405.0K	$3.2M	$3.5M	—
Cash paid for interest	$73.9M	$73.6M	$67.5M	$59.2M

Suburban Propane Partners LP cash flow statement, quarters

Line item	Jun 27, 2026 · YTD	Mar 28, 2026 · YTD	Dec 27, 2025 · Q1	Jun 28, 2025 · YTD
Net income	$165.8M	$183.3M	$45.8M	$141.7M
Depreciation and amortization	$49.8M	$33.1M	$16.9M	$53.4M
Equity in losses and impairment charges for investments in unconsolidated affiliates	$1.4M	$896.0K	$521.0K	$23.4M
Compensation costs recognized under Restricted Unit Plan	$5.9M	$4.1M	$2.3M	$6.1M
Pension settlement charge	$0	—	—	$450.0K
Loss on debt extinguishment	$1.2M	$1.2M	$1.2M	$0
Other, net	$1.5M	$675.0K	$1.1M	$3.3M
Accounts receivable	($15.1M)	($78.5M)	($59.6M)	($14.5M)
Inventories	$7.9M	$10.3M	$4.6M	($832.0K)
Other current and noncurrent assets	($12.8M)	($21.7M)	($12.5M)	$6.6M
Accounts payable	($6.4M)	($1.6M)	($3.6M)	($13.5M)
Accrued employment and benefit costs	$891.0K	($3.5M)	($9.3M)	$6.0M
Customer deposits and advances	($30.8M)	($58.3M)	($17.0M)	($36.2M)
Contributions to defined benefit pension plan	($3.0M)	($2.0M)	—	($3.0M)
Other current and noncurrent liabilities	($26.7M)	$565.0K	($17.9M)	($28.5M)
Net cash provided by operating activities	$139.6M	$68.6M	($47.7M)	$144.4M
Capital expenditures	($66.0M)	($44.5M)	($19.8M)	($57.8M)
Investments in and acquisitions of businesses	($23.1M)	($23.1M)	($22.2M)	($59.4M)
Proceeds from sale of property, plant and equipment	$2.5M	$1.8M	$683.0K	$2.3M
Net cash (used in) investing activities	($86.6M)	($65.8M)	($41.3M)	($114.9M)
Proceeds from long-term borrowings	$350.0M	$350.0M	$350.0M	—
Repayments of long-term borrowings	($350.0M)	($350.0M)	($350.0M)	—
Proceeds from borrowings under revolving credit facility	$330.8M	$248.2M	$183.7M	$384.8M
Repayments of borrowings under revolving credit facility	($315.9M)	($197.1M)	($68.3M)	($372.2M)
Issuance costs associated with long-term borrowings	($6.0M)	($6.0M)	($5.3M)	$0
Proceeds from the issuance of Common Units under an at-the-market equity program, net of commissions and offering costs	$9.7M	$3.1M	$3.1M	$16.9M
Partnership distributions	($64.5M)	($43.0M)	($21.4M)	($62.9M)
Other, net	($3.6M)	($3.1M)	($3.1M)	($3.9M)
Net cash provided by financing activities	($49.4M)	$2.2M	$88.8M	($37.3M)
Net increase (decrease) in cash, cash equivalents and restricted cash	$3.5M	$4.9M	($196.0K)	($7.8M)
Cash, cash equivalents and restricted cash at beginning of period	$11.8M	$11.8M	$11.8M	$20.5M
Cash, cash equivalents and restricted cash at end of period	$15.3M	$16.7M	$11.6M	$12.7M
Less: restricted cash	$10.3M	$12.4M	$10.3M	$11.4M
Cash and cash equivalents, end of period	$5.0M	$4.3M	$1.3M	$1.3M

Suburban Propane Partners LP score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.