Ferrellgas Partners LP posted a wider-than-expected fourth-quarter loss on lower propane sales.
For the fourth quarter ended July 31, the company posted a net loss of $34.7 million, or 51 cents a unit, compared with a loss of $38.4 million, or 61 cents a unit, a year ago.
Net sales for the quarter dropped 25 percent to $312.7 million.
Analysts, on average, expected the company to post a loss of 46 cents a share, before items, on revenue of $423.4 million, according to Reuters Estimates.
Shares of the Overland Park, Kansas-based company closed at $19.68 Friday on the New York Stock Exchange. (Reporting by Antonita Madonna Devotta in Bangalore; Editing by Unnikrishnan Nair)