Ferrellgas Partners Reports Net Loss of $29.1 Million in Fiscal Year 2023

Ferrellgas Partners, L.P.(FGPR) and its subsidiaries, a promin ent player in the propane and gas liquids industry, recently released their condensed consolidated financial statements for the fiscal year ending July 31, 2023. The company reported a significant net loss of $29.1 million for the year, down from a net loss of $19.4 million in the previous fiscal year. This news comes as Ferrellgas faced challenging market conditions that impacted its bottom line. Additionally, the annual revenue for the company dropped to $2.03 billion from $2.11 billion in the previous year. Let's delve deeper into the financial data and explore the factors behind this performance.

Current Assets Decline

Ferrellgas Partners' balance sheet for July 31, 2023, shows a decline in current assets compared to the previous year. Cash and cash equivalents, including restricted cash, decreased to $137.3 million from $158.7 million in 2022. Accounts and notes receivable also saw a minor increase to $159.4 million from $150.4 million. However, inventories decreased to $98.1 million from $115.2 million, indicating changes in the company's liquidity.

Long-Term Assets Remain Stable