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Suburban Propane Partners L P - SPH STOCK NEWS

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Suburban Propane Partners, L.P. (NYSE: SPH), headquartered in Whippany, New Jersey, is a leading nationwide marketer and distributor of propane, renewable propane, fuel oil, and other refined fuels. The company has been serving the energy needs of approximately 1 million residential, commercial, governmental, industrial, and agricultural customers through about 700 locations across 42 states since 1928.

Core Business: Suburban Propane specializes in providing propane, fuel oil, and refined fuels, along with marketing natural gas and electricity in deregulated markets such as New York and Pennsylvania. The company operates in three main segments: Propane, Fuel Oil and Refined Fuels, and Natural Gas and Electricity, with the Propane segment generating the maximum revenue.

Products and Services: Propane, known for its clean-burning properties, is used in residential and commercial markets for space heating, water heating, cooking, and clothes drying. Additionally, industrial customers utilize propane as a motor fuel, for powering engines, and in various process applications. In the agricultural sector, propane serves crucial functions such as tobacco curing, crop drying, and poultry brooding. Suburban Propane also sells, installs, and services heating systems, air conditioning units, and other energy-related equipment.

Environmental Commitment: As part of its commitment to a green energy future, Suburban Propane markets renewable propane and invests in low carbon fuel alternatives. The company's

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Suburban Propane Partners (NYSE: SPH) collaborated with the American Red Cross and Coppin State University in Baltimore on October 30th, 2024, to host a blood donation event focused on raising awareness of sickle cell disease. The initiative addresses a critical need, as sickle cell disease affects approximately 1 in 365 African American births in the United States, with patients requiring up to 100 units of blood annually for treatment.

The partnership emphasizes the importance of blood donations, particularly from black and brown communities, who are nearly three times more likely to be suitable donors for sickle cell patients. The event aims to support the estimated 100,000 people living with sickle cell disease in the U.S. who require frequent blood transfusions throughout their lifetime.

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Suburban Propane Partners (NYSE:SPH) has declared a quarterly distribution of $0.325 per Common Unit for the period ended September 28, 2024, equivalent to an annualized rate of $1.30 per Common Unit. The distribution will be paid on November 12, 2024, to unitholders of record as of November 5, 2024. The company operates as a nationwide distributor of propane and related products, serving approximately 1 million customers across 42 states through 700 locations. 100% of distributions to foreign investors are subject to federal income tax withholding at the highest applicable effective tax rate.

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Suburban Propane Partners (NYSE:SPH) has scheduled its Fiscal 2024 Full Year and Fourth Quarter Results Conference Call for Thursday, November 14, 2024, at 9:00 AM Eastern Time. The company will discuss its financial results and business outlook. A replay will be available from 12:00 PM Eastern Time on November 14 until November 21, 2024. The company serves approximately 1 million customers through 700 locations across 42 states, distributing propane, renewable propane, fuel oil, and related products and services.

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Suburban Propane Partners, L.P. (NYSE: SPH) has collaborated with Rutland Community Cupboard in Vermont to support local families facing food insecurity. The company volunteered to stock shelves with food and pantry items, and donated funds to purchase 2,778 fresh half gallons of milk for families in need.

Rutland Community Cupboard, which was visited 10,204 times by those in need last year, expressed gratitude for the partnership. Suburban Propane's spokesperson, Nandini Sankara, emphasized the company's support for the cupboard's mission to provide nutritious meals to those facing food insecurity.

This initiative is part of SuburbanCares' broader commitment to supporting communities across the United States. The company has undertaken similar charitable efforts in numerous locations, including New Hampshire, Arizona, Ohio, California, Alabama, New York, Florida, Washington, Massachusetts, Montana, North Carolina, Delaware, Pennsylvania, New Mexico, South Carolina, New Jersey, and Texas.

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Suburban Propane Partners, L.P. (NYSE: SPH) recently collaborated with the Nevada Outreach Training Organization (NOTO) in Pahrump to assist with organizing donations. Volunteers from Suburban Propane helped break down damaged furniture, sort clothing, and organize housewares for distribution to those in need. This effort contributed to NOTO's grant match requirements.

Jessica McCutcheon, Executive Director of NOTO, expressed gratitude for Suburban Propane's support. The collaboration aligns with SuburbanCares' commitment to community efforts across the United States. Suburban Propane, headquartered in Whippany, New Jersey, is a nationwide distributor of propane and related products, serving approximately 1 million customers through 700 locations across 42 states.

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Suburban Propane Partners, L.P. (NYSE: SPH) has joined forces with Warren County Habitat for Humanity as a Framer Sponsor, volunteering at a new construction site. The company's employees actively supported the local build site, with Assemblyman John DiMaio (NJ District 23) also in attendance. This initiative is part of SuburbanCares' commitment to supporting community efforts across the United States.

Brittany Powelson, Volunteer Services and Public Relations Manager at Warren County Habitat for Humanity, expressed gratitude for Suburban Propane's support, both through their donation and on-site assistance. Nandini Sankara, Spokesperson for Suburban Propane, emphasized that this volunteering effort represents more than giving back; it's an opportunity to foster hope and enhance lives within the community.

Suburban Propane, headquartered in Whippany, New Jersey, is a nationwide distributor of propane, renewable propane, renewable natural gas, and related products and services. The company serves approximately 1 million customers through 700 locations across 42 states.

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Suburban Propane Partners, L.P. (NYSE: SPH) collaborated with Sharing House in Brevard, North Carolina on September 5th, 2024. Volunteers from Suburban Propane helped sort and organize donations, clean storage areas, and perform light landscaping. The company also made a financial contribution to Sharing House's emergency heating assistance program, which supports nearly 1,000 low-income households each winter.

This initiative is part of SuburbanCares, the company's community outreach program, which has undertaken charitable efforts in numerous communities across the United States. Sharing House, a faith-based cooperative organization, has been serving Transylvania County for over 42 years, providing essential services to under-resourced residents in a region where 45% struggle with unaffordable rent and 35% are considered low-income.

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Suburban Renewable Energy, , a subsidiary of Suburban Propane Partners, L.P. (NYSE: SPH), has announced its sponsorship of the Horizon Hydrogen Grand Prix (H2GP) in Anaheim, California from September 9-12, 2024. The event, held during the RE+ tradeshow, showcases students aged 13-17 racing 1:10 scale hydrogen fuel cell model cars they've designed and built. Suburban Renewables will also participate in the 'Corporate Race', defending its 2023 fastest lap title.

The sponsorship aligns with Suburban Propane's commitment to investing in the hydrogen industry's future and advancing renewable energy education. The company will host a booth at the event, showcasing its renewable energy initiatives. The H2GP also marks the launch of the H2GP Foundation, a non-profit supporting hydrogen technology education and research.

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Suburban Propane Partners (NYSE: SPH) reported a net loss of $17.2 million, or $0.27 per Common Unit, for Q3 fiscal 2024, compared to a net loss of $5.3 million in Q3 fiscal 2023. Adjusted EBITDA decreased to $27.0 million from $33.0 million year-over-year. The company faced challenges due to unseasonably warm temperatures, resulting in an 8.6% decrease in retail propane gallons sold. Despite this, SPH completed two propane acquisitions in Nevada and Florida, investing over $12.0 million, while reducing debt by $10.5 million. The company's RNG operations saw operational improvements, increasing feedstocks processed and daily RNG injection at the Stanfield facility. SPH maintained its quarterly distribution of $0.325 per Common Unit.

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Suburban Propane Partners (NYSE:SPH) has declared a quarterly distribution of $0.325 per Common Unit for the three months ended June 29, 2024. This equates to an annualized rate of $1.30 per Common Unit. The distribution is payable on August 13, 2024 to Common Unitholders of record as of August 6, 2024.

Suburban Propane is a publicly traded master partnership listed on the NYSE. It's a nationwide distributor of propane, renewable propane, renewable natural gas, and related products, serving approximately 1 million customers through 700 locations across 42 states. The company focuses on customer service, community involvement, and promoting propane as a clean energy source.

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FAQ

What is the current stock price of Suburban Propane Partners L P (SPH)?

The current stock price of Suburban Propane Partners L P (SPH) is $18.75 as of November 6, 2024.

What is the market cap of Suburban Propane Partners L P (SPH)?

The market cap of Suburban Propane Partners L P (SPH) is approximately 1.2B.

What products and services does Suburban Propane Partners, L.P. provide?

Suburban Propane distributes propane, renewable propane, fuel oil, and other refined fuels, and markets natural gas and electricity. They also sell, install, and service heating systems, air conditioning units, and other energy-related equipment.

Where is Suburban Propane Partners, L.P. headquartered?

Suburban Propane is headquartered in Whippany, New Jersey.

How many customers does Suburban Propane serve?

Suburban Propane serves approximately 1 million residential, commercial, governmental, industrial, and agricultural customers.

What is the primary revenue-generating segment for Suburban Propane?

The primary revenue-generating segment for Suburban Propane is the Propane segment.

What are the environmental initiatives of Suburban Propane?

Suburban Propane promotes the clean-burning properties of propane and renewable propane, and invests in low carbon fuel alternatives as part of their Go Green initiative.

What recent developments have been announced by Suburban Propane?

Recent developments include the retirement of COO Steven C. Boyd and the succession plan naming Alejandro (“Alex”) Centeno as the new COO, as well as advancements in their Renewable Natural Gas (RNG) projects.

What community initiatives is Suburban Propane involved in?

Through the SuburbanCares corporate pillar, Suburban Propane engages in various community support activities, including partnerships with the American Red Cross for blood donation drives.

When was Suburban Propane Partners, L.P. established?

Suburban Propane has been in the customer service business since 1928.

How does Suburban Propane support agricultural customers?

Suburban Propane provides propane for functions such as tobacco curing, crop drying, poultry brooding, and weed control in the agricultural sector.

Where can I find more information about Suburban Propane?

For more information, visit their official website at www.suburbanpropane.com.

Suburban Propane Partners L P

NYSE:SPH

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1.19B
64.07M
2.26%
35.97%
1.27%
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