Ferrellgas posts smaller 4Q loss, misses Street

Propane company Ferrellgas Partners posts smaller fourth-quarter, but misses expectations

• On 3:57 pm EDT, Monday September 28, 2009

OVERLAND PARK, Kan. (AP) -- Propane distributor Ferrellgas Partners LP said Monday that its fourth-quarter loss narrowed from a year ago when it recorded a one-time charge related to a tax law change.

Ferrellgas said it lost $34.7 million, or 51 cents per unit available to common unitholders, for the quarter ended July 31, compared with a loss of $38.4 million, or 61 cents per unit available to common unitholders, in the year-ago quarter. Revenue fell to $312.7 million for the quarter from $419.7 million a year ago.

Analysts surveyed by Thomson Reuters expected Ferrellgas to post a loss of 46 cents per unit.

For the year, Ferrellgas said it made $52 million, or 79 cents per unit, compared with $24.4 million, or 39 cents per unit, the year before. Revenue fell to $2.1 billion from $2.3 billion a year ago.

Ferrellgas units rose 2 cents to $19.70 in trading Monday afternoon.