Ferrellgas Partners, L.P shares sank to their lowest level since 2009 on Wednesday morning after the propane distributor reported a fiscal Q4 loss per diluted share of $6.68 compared with loss-per-share of $0.64 a year ago. Shares were 21% lower in recent trade, within a new 52-week range of $12.96- $21.22.

The loss in the quarter ended July 31 includes a one-time non-cash impairment charge of $628.8 million in the firm’s midstream operations — crude oil logistics segment and a one-time non-cash impairment charge of $29.3 million in its other midstream operations — water solutions reporting unit.

Analysts polled by Capital IQ had expected a $0.46 average loss-per-share.

Revenues over the three months that ended July 31 rose to $409.5 million from $382.5 million a year ago, coming in below the $462-million consensus.

“Record temperatures across the nation continue to have an adverse impact on the propane sector of our company and low oil prices have seriously damaged our midstream sector.” Ferrell said. “In particular, unusually warm winters over the past two years drove down propane sales across all our geographies, and low crude oil prices have negatively impacted our midstream logistics business.”

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