Revenues decline to $715.6m

US-based propane distributor Ferrellgas Partners has reported net earnings of $69.65m for the second quarter ended January 31, 2009, compared to $51.19m for the same period of 2008.

Ferrellgas Partners has reported revenues of $715.6m for the second quarter ended January 31, 2009, compared to $764m for the same period of 2008.

The company has reported net earnings of $54.76m for the first six months ended January 31, 2009, compared to $28.29m for the same period of 2008.

Ferrellgas Partners has reported revenues of $1.19 billion for the first six months ended January 31, 2009, compared to $1.16 billion for the same period of 2008.

James Ferrell, chairman and chief executive officer of Ferrellgas Partners, said: We are pleased to have achieved impressive results in an extremely difficult environment, exceeding analysts’ mean estimate of $1.06. With these results, our 12-month adjusted earnings before interest, taxes, depreciation and amortization performance has reached $252m nearing our prior guidance of $255m for the fiscal year.

Steve Wambold, president and chief operating officer of Ferrellgas Partners, said: We were pleased by the increase in propane gallon sales, just as in the first quarter. Our organic growth initiatives are attracting longer-term, profitable customers. In addition, we are reaping the benefits of tightening up our customer service metrics with ongoing focus on operating efficiencies.