Suburban Propane Partners, L.P. (NYSE:SPH) Q4 2016 Earnings Conference Call - Preliminary Transcript

Nov 10, 2016 • 09:00 am ET


Suburban Propane Partners, L.P. (NYSE:SPH) Q4 2016 Earnings Conference Call - Preliminary Transcript


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Ladies and gentlemen, thank you for standing by, and welcome to the Fourth Quarter 2016 Financial Results Conference Call.As a reminder today's conference call is being recorded.

I'll begin today's conference call with Safe Harbor statement. This conference call contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 as amended relating to the Partnership's future business expectations and predictions and financial condition and results of operations. These forward-looking statements involve certain risks and uncertainties. The Partnership has listed some of the important factors that could cause actual results to differ materially from those disclosed in such forward-looking statements, which are referred to as cautionary statements in its earnings press release which can be viewed on the Company's website. All subsequent written and oral forward-looking statements attributable to the Partnership or persons acting on its behalf are expressly qualified in their entirety by such cautionary statements.

And at this time, we'll turn the conference over to our first speaker, Vice President and Treasurer, Davin D'Ambrosio.

Davin D'Ambrosio

Thank you, Nick and good morning everyone. Welcome to Suburban's fourth quarter and fiscal 2016 full year results conference call. Joining me this morning are Mike Stivala, our President and Chief Executive Officer; Mike Kuglin, Chief Financial Officer and Chief Accounting Officer; and Steve Boyd, our Senior Vice President of Operations.

On today's call we will review our fourth quarter and fiscal 2016 full year results, along with our current outlook for the business. As usual, once we've concluded IR prepared remarks, we will open the session to questions. However, before getting started, I would like to reemphasize what the operator has just explained about forward-looking statements.

Additional information about factors that could cause actual results to differ materially from those discussed in forward-looking statements is contained in the Partnership's SEC filings, including our Form 10-K for the fiscal year ended September 24, 2016 which will be filed on November 23. Copies of these filings may be obtained by contacting the Partnership or the SEC.

Certain non-GAAP measures will be discussed on this call. We have provided a description of those measures, as well as a discussion of why we believe this information to be useful in our Form 8-K which was furnished to the SEC this morning. Form 8-K will be available through a link in the Investor Relations section of our website at

At this point, I will turn the call over to Mike Stivala for some opening remarks.

Mike Stivala

Thanks, Davin and thanks everyone for joining us this morning.

As we have reported throughout much of this past fiscal year, the 2015-2016 heating season has been reported as the warmest winter on record. Our results for fiscal 2016 reflected the challenging operating environment driven by the record warm temperatures and their impacts on customer demand for heating needs and therefore our earnings for the year.

Nonetheless we relied on our flexible cost structure and the strength of our balance sheet to help mitigate some of the effects