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F Ferrellgas Ferrellgas Partners , L.P. Reports First Quarter Fiscal 2022 Results December 15 , 2021 • Financial Highlights • Gross Profit for the first fiscal quarter increased by $ 10.8 million compared to the prior year period . • Operating Income for the first fiscal quarter increased by 60 % compared to the prior year period . • Company Highlights • Ferrellgas began its partnership with Operation Warm bringing warmth through winter coats to families in need across the United States . • Ferrellgas welcomed its newest acquisitions to the Ferrellgas Family : Starlite , located on Long Island , New York , and Northern Cascades , in Washington state . • Ferrellgas Management Development Program began its second year and continues to contribute to our performance . This leadership initiative provides an opportunity for excellence in leadership , logistics , and operations management . • Ferrellgas acquired a service mark , Fuel Life Simply . OVERLAND PARK , Kan . , Dec. 15 , 2021 ( GLOBE NEWSWIRE ) -- Ferrellgas Partners , L.P. ( OTC : FGPR ) ( " Ferrellgas " or the " Company " ) today reported financial results for its first fiscal quarter ended October 31 , 2021 . " At Ferrellgas , we believe in being easy to do business with . It starts with our people . Our proud employee owners are passionately committed to the highest standards of professionalism and safety , and truly believe in helping customers have a wonderful experience . We call that Fuel Life Simply , " said James E. Ferrell , Chief Executive Officer and President . The Company delivered $ 4.6 million higher operating income in the first fiscal quarter versus the same period last year . Contributing to the increase is cost management , which led to continued margin performance . Overall gallon performance contributed to an increase in the first fiscal quarter gross profit of $ 10.8 million , or 6.7 % , higher than the prior year period . Operating expenses as a percentage of total revenue were approximately 7.4 % lower than the prior year period . Margin per gallon for the quarter increased by $ 0.11 , or 12 % higher than the prior year period . The Company demonstrated continued operational excellence on its strategic initiative of delivering gallons more efficiently , which led to significant containment of operating expenses during the quarter . These tighter controls meant less fleet required and fewer miles driven resulting in less fuel consumed by trucks . The first fiscal quarter continues to demonstrate Ferrellgas ' strength as a technology enabled , logistics company providing a clean , desirable fuel to a tenured customer base . A favorable credit position over the prior year period continues to position Ferrellgas well with suppliers . The Company's continued emphasis on leadership development , excellence in operational expense management , and implementation of logistics fundamentals continues to increase efficiency and profitability . We are focused on continuous improvement by dedicated distribution managers , safety - minded delivery professionals and a committed customer service organization that continues to provide the foundation for the Company to build on . For the first fiscal quarter , the Company reported net loss attributable to Ferrellgas Partners , L.P. of $ 8.6 million , or $ 5.25 per Class A Unit , compared to prior year period net loss of $ 46.1 million , or $ 9.39 per Class A Unit . Adjusted EBITDA , a non - GAAP measure , increased by $ 3.4 million to $ 37.3 million in the first fiscal quarter compared to $ 33.9 million in the prior year period . " Our performance is made possible through our over 2,700 delivery and customer service professionals . Their commitment to our customers and Company enable our continued high performance , " Ferrell added . " Our success is further strengthened by the incredibly dedicated employees of Ferrellgas , across our corporate operations and the field . Our management teams have demonstrated excellence in the areas of growth all while managing a challenging supply chain environment . I could not be more proud of our people and how they have succeeded . " Commitment by Ferrellgas employees to communities they work and live in took on a new meaning this quarter as Ferrellgas began a partnership with Operation Warm . Ferrellgas supports communities in two ways : with great service and by giving back . The partnership with Operation Warm will provide new winter coats to underserved children in Ferrellgas - serviced communities across the country . As previously announced , on October 8 , 2021 , we paid a $ 49.9 million distribution to holders of record of the Class B Units as of September 24 , 2021 - an activity made possible by the continued strong performance of the Company . On Friday , December 17 , 2021 , James E. Ferrell , Chief Executive Officer and President , and Tamria Zertuche , Chief Operating Officer , will conduct a live teleconference on the Internet at https://edge.media-server.com/mmc/p/cvhpm3d9 to discuss the results of operations for the first fiscal quarter . The live webcast of the teleconference will begin at 8:00 a.m. Central Time ( 9:00 a.m. Eastern Time ) . Questions may be submitted via the investor relations e - mail box at Investor Relations@ferrellgas.com . About Ferrellgas Ferrellgas Partners , L.P. , through its operating partnership , Ferrellgas , L.P. , and subsidiaries , serves propane customers in all 50 states , the District of