Suburban Propane Reports Fiscal 2026 Results with Increased Adjusted EBITDA and RNG Growth
Suburban Propane (SPH) reported fiscal 2026 results characterized by steady growth in core operations despite a slight decline in total revenue due to lower wholesale propane prices. The company achieved an adjusted EBITDA of $284 million, a 2.2% increase driven by improved margins and contributions from its renewable natural gas (RNG) segment. Retail propane volume grew 1% year-over-year to 402.9 million gallons, aided by colder temperatures in the Eastern U.S. The company is successfully pivoting toward renewable energy, noting a 13% increase in RNG injection volume and significant tax credit recognition from clean fuel models. While total revenue dipped to $1.40 billion from $1.43 billion in the prior year, management focused on margin expansion and balance sheet strengthening, reducing the consolidated leverage ratio to 4.13x. Looking ahead, capital expenditure guidance for fiscal 2027 is expected to moderate as major RNG projects reach completion.
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