LP Gas, May 2017

NPGA Total attendance at Propane Expo similar to last years levels in Nashville PROPANE MASTER LIMITED PARTNERSHIP COMPARISON Fiscal Recent Total Units Year Quarter Price Current Current Est Tax Debt Outstanding Company End End 4 24 17 Distribution Yield Deferral Capital millions AmeriGas APU Sept Dec 4587 376 82 75 70 930 Ferrellgas FGP July Jan 577 040 69 90 154 972 NGL Energy Partners NGL March Dec 2167 156 72 80 62 1189 Suburban Propane SPH Sept Dec 2680 355 132 80 64 611 Average 89 88 LAST TWELVE MONTHS Gross Gross Gross Profit Gross Profit Retail Gallons Sold Percent Gross Profit Company Revenue Profit Margin Per employee millions Change Per gallon AmeriGas 2083 1377 66 161998 1076 6 122 Ferrellgas 789 436 55 111450 565 1 055 NGL Energy Partners 960 219 23 68565 168 3 016 Suburban Propane 922 623 68 182194 424 7 147 Average 53 131052 3 085 Source FactSet partnership reports and Wells Fargo Securities LLC Dollar figures in millions except for per unit data Revenue and gross profit data are based on total propane gallons sold Employee data is based on most recently completed fiscal year NGLs revenue and gross profit data include the sale of distillates and other natural gas liquids Sharon Lui analyst Wells Fargo Securities LLC NEWS BRIEFS INDUSTRY NEWS NUMBERS T otal attendance at the 2017 Southeastern Convention International Propane Expo kept pace with levels seen at the 2016 show its first in Nashville Tennessee the National Propane Gas Association NPGA reports More than 4000 people from all segments of the industry attended this years show in Nashville according to NPGA Attendees came from 48 states Washington D C Guam Puerto Rico and 39 countries The attendance figure is similar to the 4100 reported for the 2016 Propane Expo in Nashville Both the 2016 and 2017 shows featured total attendance levels that were significantly higher than the 2015 show in Atlanta where 3000 people attended People liked the change to Nashville says Tim Esterling chairman of NPGAs Conventions Committee and trade show manager at Westmor Industries Its an interesting convention city with a lot of energy here a beautiful convention center and a lot of local places for people to visit The 2017 show featured 45 educational sessions including three general sessions 28 concurrent breakout sessions eight fast track sessions and six technical workshops The show also offered a 180000 sq ft exhibition hall with more than 250 exhibitors The Propane Expo shifts back to Atlanta in 2018 and 2019 and it will return to Nashville in 2020 We dont know what effect switching back will have Esterling adds But people must understand the reason we come together as a trade show Location is secondary to the components that go into the show More show coverage on pages 24 47 LPG ThompsonGas acquires two Missouri companies ThompsonGas acquired the assets of two Missouri based propane companies Dallas County Propane and Garretts Propane of Rogersville The company acquired Dallas County Propane based in Buffalo Missouri from owners Lee and Monica Garrett It acquired Garretts Propane of Rogersville based in Rogersville Missouri from Mark and Shellena Garrett Mark Garrett joined ThompsonGas as manager of both operations ThompsonGas now serves more than 95000 customers in 17 states Beaudry Oil Propane expands in Minnesota Minnesota based Beaudry Oil Propane acquired DM Propane based in Detroit Lakes Minnesota The owners of DM Propane planned to retire and sell the business to Beaudry Oil Propane according to the Detroit Lakes Tribune With the acquisition Beaudry Oil Propane will open its eighth store location and provide propane to residential and commercial customers The company based in Elk River Minnesota will now have more than 50 employees and serve thousands of customers in a 50 mile radius around Detroit Lakes 12 LPGas May 2017 www LPGasmagazine com