SUBURBAN PROPANE PARTNERS LP — Form 8-K

Suburban Propane reported Q3 FY2026 (ended June 27, 2026) net loss of $17.5 million ($0.26/unit) vs. $14.8 million ($0.23/unit) prior year. Adjusted EBITDA fell 33% to $18.0 million from $27.0 million YoY, driven by 1.8% decline in propane volumes (70.6M gallons) due to 17% warmer-than-normal temperatures and customer tank overstocking. Gross margin held flat at $160.3 million despite volume decline, as propane unit margins remained steady. The company repaid $36.2 million in debt using operating cash flow and $6.6 million from ATM equity issuance (weighted average units outstanding rose to 66.68M from 65.38M). Operating expenses increased $5.2 million (3.8%). RNG operations showed flat injection volumes but benefited from higher environmental credit prices. Board declared $0.325/unit quarterly distribution (annualized $1.30/unit).