According to a local propane guy that competes with Ferrell, some of their suppliers are putting them on COD terms due to bills being paid late. He thinks it started within the last month or two and has nothing to do with the explosion last night. Anyone else hearing anything like this?
As a former credit analyst/banker, FGP's finances are ample. Witness their continued acquisitions of companies to prove my point. This doesn't happen if you're financially strapped. It concerns me the potential liability of explosion but my guess is FGP is well insured/indemnified.
The company has negative equity. 1.1B in debt. They have paid out more in div. in the last year than they have made (that's excluding D & A). They have had an earnings increase over recent quarters but it's because of cost cutting. At some point don't they have to cut that Div?