June 2022: Truck driver shortage

Each month, LP Gas provides updates on the U.S. propane market, as well as the latest trends. The data for June 2022 highlights the truck driver shortage in the U.S. and the number of new drivers needed in the future.

Stock information for Ferrellgas and Suburban Propane is also provided.

PROPANE MARKET METRICS

The American Trucking Associations estimates that over the next decade the industry will have to recruit nearly 1 million new drivers to replace retiring drivers, drivers who leave voluntarily (e.g., lifestyle) or involuntarily (e.g., driving records or failed drug test), and account for the additional drivers needed for industry growth.

Source: American Trucking Associations, Driver Shortage Update 2021, Oct. 25, 2021

STOCK WATCH

Company	12-month chart (as of May ’22)	Price (5/19/22)	Current Yield	52-Week Low	52-Week High	YTD Price Performance
Ferrellgas – FGPR		$13.95	N/A	11.56	25.34	(5.0%)
Suburban Propane – SPH		16.73	7.8%	13.83	17.75	14.2%

Source: Company data, FactSet and Wells Fargo Securities LLC (SPH); Yahoo Finance (FGPR)

Featured photo: MicroStockHub/iStock / Getty Images Plus/Getty Images