Suburban Propane Partners, L.P. (SPH) Income Statement
SPH FY2025 at a glance
Fiscal year ended September 30, 2025 · U.S. dollarsSPH revenue and net income
Where SPH's revenue goes
FY2025Each bar shows an amount and its share of revenue. SPH kept 7.4% of revenue as net income.
SPH profit margins
SPH growth rates
to FY2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +7.9% | −1.6% | +5.3% | +0.1% |
| Gross profit | −62.4% | −27.3% | −16.0% | −9.5% |
| Operating income | +20.5% | −0.0% | +8.0% | +1.5% |
| Net income | +43.7% | −8.6% | +11.9% | +2.4% |
| EPS (diluted) | +13.7% | −4.3% | +15.7% | −0.5% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
SPH quarterly EPS vs estimates
Suburban Propane Partners beat the analyst EPS estimate in 1 of the last 8 quarters. Next report: November 12, 2026 (estimate $-0.43).
SPH income statement
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.43B | $1.33B | $1.43B | $1.50B | $1.29B | $1.11B | $1.27B | $1.34B | $1.19B | $1.05B |
| Cost of revenue | $1.13B | $522.2M | $1.07B | $712.1M | $485.5M | $383.0M | $522.0M | $592.6M | $476.7M | $362.0M |
| Gross profit | $302.7M | $805.0M | $361.0M | $789.3M | $803.3M | $724.9M | $745.7M | $751.8M | $711.2M | $684.2M |
| Research & development | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Sales, general & admin | $96.4M | $89.9M | $91.6M | $81.8M | $74.1M | $65.9M | $71.0M | $66.2M | $57.3M | $61.1M |
| Total operating expenses | $96.4M | $633.7M | $154.2M | $583.0M | $590.0M | $584.7M | $594.9M | $593.6M | $595.9M | $603.5M |
| Operating income | $206.3M | $171.2M | $206.8M | $206.3M | $213.2M | $140.3M | $150.9M | $153.3M | $115.3M | $90.4M |
| Interest income | $80.3M | $74.6M | $73.4M | $60.7M | $68.1M | $74.7M | $76.7M | $77.4M | $75.3M | $75.1M |
| Interest expense | $76.3M | $74.6M | $73.4M | $60.7M | $68.1M | $74.7M | $76.7M | $77.4M | $75.3M | $75.1M |
| Income before taxes | $107.9M | $74.9M | $124.4M | $140.1M | $123.9M | $60.6M | $69.5M | $75.9M | $38.5M | $15.0M |
| Income taxes | $1.3M | $734,000 | $668,000 | $429,000 | $1.1M | −$146,000 | $857,000 | −$606,000 | $459,000 | $588,000 |
| Net income | $106.6M | $74.2M | $123.8M | $139.7M | $122.8M | $60.8M | $68.6M | $76.5M | $38.0M | $14.4M |
| EBITDA | $256.2M | $216.5M | $260.4M | $259.6M | $296.6M | $257.1M | $271.7M | $283.4M | $241.7M | $219.7M |
| EPS (diluted) | $1.91 | $1.68 | $1.92 | $2.18 | $1.88 | $0.92 | $1.23 | $1.32 | $0.64 | $0.28 |
| Gross margin | 21.1% | 60.7% | 25.3% | 52.6% | 62.3% | 65.4% | 58.8% | 55.9% | 59.9% | 65.4% |
| Operating margin | 14.4% | 12.9% | 14.5% | 13.7% | 16.5% | 12.7% | 11.9% | 11.4% | 9.7% | 8.6% |
| Net margin | 7.4% | 5.6% | 8.7% | 9.3% | 9.5% | 5.5% | 5.4% | 5.7% | 3.2% | 1.4% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $261.4M | $551.2M | $370.4M | $211.4M | $260.1M | $587.7M | $373.3M | $208.6M | $254.6M | $498.1M | $365.8M | $226.6M |
| Cost of revenue | $101.1M | $361.9M | $275.8M | $207.3M | $99.6M | $242.4M | $147.2M | $84.6M | $94.4M | $190.1M | $153.1M | $65.4M |
| Gross profit | $160.3M | $189.3M | $94.6M | $4.1M | $160.6M | $345.3M | $226.2M | $124.0M | $160.2M | $308.0M | $212.8M | $161.2M |
| Sales, general & admin | $16.5M | $30.0M | $27.9M | $20.9M | $18.7M | $29.9M | $26.9M | $18.5M | $21.0M | $26.1M | $25.6M | $21.7M |
| Total operating expenses | $158.1M | $30.0M | $27.9M | $20.9M | $155.0M | $186.9M | $167.1M | $146.6M | $152.0M | $171.1M | $164.0M | $157.2M |
| Operating income | $2.2M | $159.3M | $66.7M | −$16.8M | $5.6M | $158.4M | $59.1M | −$22.5M | $8.2M | $136.9M | $48.7M | $4.0M |
| Interest income | — | — | $20.1M | $17.6M | $19.5M | $20.6M | $19.6M | $18.1M | — | — | — | $18.8M |
| Interest expense | $18.8M | $19.7M | $19.8M | $17.2M | $18.9M | $20.6M | $19.6M | $18.1M | $18.4M | $19.9M | $18.2M | $18.8M |
| Income before taxes | −$17.3M | $137.7M | $46.0M | −$34.6M | −$14.6M | $137.1M | $20.0M | −$44.4M | −$16.9M | $111.5M | $24.7M | −$20.6M |
| Income taxes | $182,000 | $120,000 | $231,000 | $547,000 | $242,000 | −$4,000 | $563,000 | $210,000 | $243,000 | $32,000 | $249,000 | $247,000 |
| Net income | −$17.5M | $137.5M | $45.8M | −$35.1M | −$14.8M | $137.1M | $19.4M | −$44.6M | −$17.2M | $111.5M | $24.5M | −$20.9M |
| EBITDA | $18.2M | $173.6M | $82.6M | $1.2M | $23.0M | $175.3M | $56.7M | −$8.9M | $17.9M | $148.2M | $59.3M | $15.4M |
| EPS (diluted) | −$0.26 | $2.08 | $0.70 | −$0.54 | −$0.23 | $2.10 | $0.58 | −$0.54 | −$0.12 | $1.71 | $0.63 | −$0.52 |
| Gross margin | 61.3% | 34.3% | 25.5% | 2.0% | 61.7% | 58.8% | 60.6% | 59.4% | 62.9% | 61.8% | 58.2% | 71.1% |
| Operating margin | 0.9% | 28.9% | 18.0% | −7.9% | 2.1% | 27.0% | 15.8% | −10.8% | 3.2% | 27.5% | 13.3% | 1.8% |
| Net margin | −6.7% | 25.0% | 12.4% | −16.6% | −5.7% | 23.3% | 5.2% | −21.4% | −6.8% | 22.4% | 6.7% | −9.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in SPH's financial statements (latest annual report filed November 26, 2025); data from EODHD. Sales, general & administrative expenses include sales and marketing.
SPH financial results
In fiscal year 2025 (ended September 30, 2025), Suburban Propane Partners reported revenue of $1.4 billion, up 7.9% from the year before. It had net income of $106.6 million (up 43.7%), a net profit margin of 7.4%. Diluted earnings per share came to $1.91. Over five years revenue grew at an average rate of 5.3% a year.
See the SPH stock overview for the latest quote and news, or the SPH chart for price history and technical indicators.
SPH income statement FAQ
What is Suburban Propane Partners's annual revenue?
Suburban Propane Partners reported total revenue of $1.4 billion for fiscal year 2025, which ended on September 30, 2025. That was up 7.9% from $1.3 billion the previous year.
Is Suburban Propane Partners profitable?
Yes. Suburban Propane Partners reported net income of $106.6 million in fiscal 2025, a net profit margin of 7.4%; its operating margin was 14.4%.
What is Suburban Propane Partners's gross margin?
Suburban Propane Partners's gross margin was 21.1% in fiscal 2025: for every $100 of revenue, Suburban Propane Partners kept $21 after the direct cost of its products and services.
How fast is Suburban Propane Partners growing?
Revenue grew 5.3% a year on average over the last five fiscal years, from $1.1 billion to $1.4 billion.
What are Suburban Propane Partners's earnings per share?
Suburban Propane Partners earned $1.91 per diluted share in fiscal 2025, compared with $1.68 a year earlier.
When will Suburban Propane Partners report its next earnings?
Suburban Propane Partners is expected to report results for the quarter ending September 30, 2026 on November 12, 2026 before the market opens.
When does Suburban Propane Partners's fiscal year end?
Suburban Propane Partners's fiscal year ends in September. The latest annual report covers the year ended September 30, 2025 and was filed on November 26, 2025.