Ferrellgas Partners, L.P.

Good morning, ladies and gentlemen, and welcome to the Feral Grass Partners LPQ2-2026 Earnings Conference Call. At this time, all lines are in a listen-only mode. I would now like to turn the call over to Michelle Magai, Vice President, Corporate Affairs. Please go ahead, Michelle.

Thank you, Jonathan. Good day, everyone. Thank you for joining us today for our second quarter 2026 Earnings Conference Call. We released this morning pre-market our earnings, and if you haven't seen it yet, you can find it on our website under the Investor Relations tab at ferrelgas.com. With me today is Tamria Zertucci, our President and Chief Executive Officer, and Nick Hymer, Ferrel Gas's Vice President and Corporate Controller. Today's call includes prepared remarks where Tamria and Nick will go over our second quarter results for fiscal 2026, concluding with responses to previously submitted questions. Please note that this call may contain forward-looking statements as determined by federal securities laws. For this purpose, any statements made during this call that are not statements of historical fact may be deemed forward-looking statements. These statements may be affected by important factors set forth in our filings with the Securities and Exchange Commission and in our latest earnings release. As a result, actual operations or results may differ materially from the results discussed in any forward-looking statement. we undertake no obligation to publicly update any forward-looking statements except to the extent required by law. In addition, please refer to the 8 earnings release to find disclosures and reconciliations of non-GAAP financial measures that may be referenced on today's call. This morning's conference call is being webcast and is also available for replay via our website. With that, I will turn the call over to Tamria.

Thank you, Michelle, and thank you to you and Nick for representing Ferrell Gas at the J.P. Morgan Global Leveraged Finance Conference this week in Miami. We appreciate you. Thank you to all for joining our call today. Let me begin with a discussion of our capital structure. Yesterday, after market, we announced that the Board of Directors declared a cash distribution to the Class B units of $82.32 per Class B unit, or approximately $107 million in aggregate. The distribution is payable on or about March 13, 2026. Upon the payment of this distribution, we will have achieved the Class B conversion threshold, which allows us to elect to convert the Class B units into Class A units. The Board of Directors also approved the conversion of all 1.3 million outstanding Class B units into Class A units. So, we will convert the Class B unit into Class A units on a 5 to 1 ratio after making the distribution. Our consistent and positive cash flow performance has put us in this position to take this meaningful step in strengthening our capital structure. We are fortunate. to have strong strategic partners as key stakeholders in our capital structure, such as PGM and Aries. They have supported the company since our restructuring, and they continue to support us as we work to simplify and improve our capital structure. We also appreciate our bank group, including our administrative agent, JP Morgan. We are excited For the future of feral gas and the opportunity that this step allows for us growth is always on our mind and this step it truly unlocks our ability to focus on even more growth initiatives we are excited about our future. But shifting for a second back to our second quarter performance, we are very pleased with the results we continue to demonstrate disciplined execution. Executing in our initiatives to grow our customer base strategically, maintain margin performance, and stay relentlessly focused on efficiency. These efforts translate into consistent profitability. Seasonality is part of this industry. However, we're prepared regardless of how winter unfolds, early, late. As I've said before, propane is an essential energy source. that our customers rely on, not only to heat their homes, but to power their businesses. Our strong customer mix helps offset weather inconsistencies. Additionally, the winter readiness that I spoke about last quarter, it really proved to be key to our success this quarter. Winter weather did arrive later than usual this quarter following unseasonably warm conditions in November and December, especially across the western half of the country. In those warmer areas, we really leaned into tank sets and growth initiatives. Winter Storm Fern brought significant snow and ice, and our drivers encountered downed trees and unplowed roads that made travel unsafe at times. But through it all, we performed and delivered a great quarter. While talking about our core capabilities, I speak to our national footprint. Our national footprint allowed us to reposition drivers and equipment from the West to the east to meet elevated demand effectively. That flexibility, it's a differentiator, and it really shows our ability to scale. The safety of our drivers, our fleet, and the communities we serve, it remains our top priority. We continue to see results from our focus on safety. Our OSHA recordables improved 10% quarter over quarter. What we call slips, trips, and falls are down nearly 4% year over year. despite the challenging weather. These gains reflect the investments we continually make in safety. At the same time, our continual progress in telematics and in-cab cameras is driving operational discipline. With improved real-time visibility and stronger integration into SAMSARA AI, that's the provider of our telematics, we're seeing reductions in safety events, improved driver performance, and measurable gains in fuel efficiency and fleet productivity. You see that in the results this quarter. All right, I will now turn the call over to Nick Hymer, our controller, to review our second quarter financial accomplishments. Nick?