The company reported EBITDA of $102.6 million for the first quarter of fiscal 2008, an increase of $30.8 million, compared to $71.8 million for the first quarter of fiscal 2007.
According to Suburban Propane, retail propane gallons sold in the first quarter of fiscal 2008 decreased 9.9 million gallons, or 8.1%, to 111.9 million gallons, compared to 121.8 million gallons in the first quarter of fiscal 2007. Sales of fuel oil and refined fuels decreased 4.9 million gallons, or 17.2%, to 23.6 million gallons during the first quarter of fiscal 2008, compared to 28.5 million gallons in the first quarter of fiscal 2007.
Mark Alexander, CEO of Suburban Propane Partners, said: Despite a challenging operating environment characterized by unprecedented high commodity prices, coupled with extreme market volatility, these results exceeded our expectations. We have come through this challenging quarter in great shape, and our financial position is stronger than ever.
