Welcome to our dedicated page for Suburban Propane Partners news (Ticker: SPH), a resource for investors and traders seeking the latest updates and insights on Suburban Propane Partners stock.
Suburban Propane Partners, L.P. (NYSE: SPH) is a publicly traded master limited partnership in the utilities sector, described by the company as a nationwide distributor of propane, renewable propane, renewable natural gas (RNG), fuel oil and related products and services. It also markets natural gas and electricity and identifies itself as a producer of and investor in low carbon fuel alternatives. News about SPH often reflects both its traditional propane operations and its activities in renewable and low carbon energy.
Visitors to this news page can review company-issued press releases and other coverage related to Suburban Propane’s business performance, financing activities and strategic initiatives. Recent announcements have included earnings results for fiscal periods, details on distributions to common unitholders, and information about private offerings of senior notes, such as the issuance of 6.500% senior notes due 2035 and the planned redemption of earlier senior notes.
Suburban Propane’s news flow also covers operational and strategic themes, including its nationwide footprint of roughly 700–750 locations across 42 states, its service to approximately 1 million residential, commercial, governmental, industrial and agricultural customers, and its capital projects in renewable natural gas and other low carbon fuel alternatives. Releases may discuss the impact of weather on propane demand, the use of non‑GAAP measures like EBITDA and Adjusted EBITDA, and the partnership’s views on factors affecting its business, such as commodity price volatility and regulatory developments.
In addition, the company highlights community and brand initiatives under its SuburbanCares and Go Green with Suburban Propane pillars, as well as partnerships and events that relate to energy, sustainability and local engagement. Investors and observers can use this page to follow SPH-related developments, from financial updates and distributions to renewable fuel projects and community outreach activities.
Suburban Propane Partners, L.P. (NYSE:SPH) reported a strong fiscal 2021, with net income rising to $122.8 million ($1.96 per Common Unit) from $60.8 million ($0.98 per Common Unit) the previous year. Adjusted EBITDA increased 8.7% to $275.7 million, driven by higher volumes and unit margins. The company reduced debt by $88 million and raised its annual distribution rate by 8.3%. However, the fourth quarter saw a net loss of $16.4 million compared to a loss of $41.2 million in 2020. Retail gallons sold for the fourth quarter increased 1.8%, reflecting positive demand dynamics.
Suburban Propane Partners, L.P. (NYSE: SPH) has launched the Homesential Home Protection Program in New Jersey, allowing homeowners to customize coverage bundles without deductibles or fees. The program focuses on essential home systems like heating, air conditioning, and electrical, offering a simplified pricing structure. Additionally, Homesential is sponsoring Rutgers Athletics and has appointed alumnus Eric LeGrand as a brand ambassador. Homesential will donate $52 for every football turnover to Team LeGrand, supporting spinal cord injury awareness.
Suburban Propane Partners, L.P. (NYSE: SPH) announced a collaboration with Whittier Kid City in Boise, providing over 100 Robotics + STEM kits and new sports equipment to support after-school programs. This initiative, part of SuburbanCares, aims to enhance learning and physical activity for local students. The donation includes various STEM kits that cover coding, physics, chemistry, and biology, promoting both mental and physical development. Suburban Propane emphasizes community support through its charitable endeavors across underserved regions in the U.S.
Agway Energy Services, a subsidiary of Suburban Propane, has extended its partnership with the Pittsburgh Penguins for the 2022 season. With over 20 years of experience, Agway provides natural gas and electricity in Pennsylvania, Maryland, and New York. The renewal includes in-arena signage and live commercial reads during games. Agway's EnergyGuard™ program offers protection for heating and cooling systems for customers in Pennsylvania. New customers can sign up for a chance to win premium club tickets throughout the season.
Suburban Propane Partners, L.P. (NYSE:SPH) has declared a quarterly distribution of $0.325 per Common Unit for the period ending September 25, 2021. This translates to an annualized rate of $1.30 per Common Unit. The distribution will be payable on November 9, 2021 to Common Unitholders recorded as of November 2, 2021. The notice includes a reminder about withholding requirements for foreign partners under Section 1446 of the Internal Revenue Code.
Suburban Propane Partners, L.P. (NYSE:SPH) will hold its Fiscal 2021 Full Year and Fourth Quarter Results Conference Call on November 11, 2021, at 9:00 AM Eastern Time. Analysts and investors can join via the internet or by calling (888) 317-6003, Access Code 6079632. A replay will be available from 12:00 PM on the same day until 12:00 AM on November 18, accessible at (877) 344-7529, Access Code 10160600. Suburban Propane is a leading provider of propane and related services across 41 states, committed to excellence and sustainability.
Suburban Propane Partners, L.P. (NYSE: SPH) announced a partnership with Camp Cole to enhance recreational facilities for children and adults facing challenges. Volunteers from Suburban Propane contributed by assembling adaptive sporting equipment and beautifying the camp area. Mayor Philip Gunter expressed gratitude for the initiative, highlighting the importance of inclusive activities. This collaboration aligns with Suburban Propane's SuburbanCares initiative, which focuses on community support across the U.S., including various underserved regions.
Suburban Propane Partners, L.P. (NYSE: SPH) has extended its 2020 agreement with U-Haul to provide eco-friendly renewable propane in California. Renewable propane, made from biomass feedstocks, reduces carbon emissions and maintains performance similar to traditional propane. This initiative aligns with Suburban's commitment to sustainable energy and the "Go Green with Suburban Propane" campaign. Both companies aim to lower greenhouse gas emissions amidst the U.S.'s evolving energy policies. The partnership supports Suburban's efforts to transition to low-carbon energy alternatives.
On Sept. 28, 2021, Suburban Propane Partners, L.P. (NYSE: SPH) announced its collaboration with Shoes 4 the Shoeless to provide 300 students at Rosa Parks Elementary School in Middletown, Ohio, with new shoes. This initiative is part of Suburban Propane's SuburbanCares program, dedicated to supporting community efforts across the U.S. The partnership aims to help children in need, promoting confidence and normalcy in their school experience. Suburban Propane serves approximately 1 million customers nationwide and has been committed to community support through various initiatives.
Suburban Propane Partners, L.P. (NYSE: SPH) has partnered with the American Red Cross for the seventh annual Jersey City Police & Fire 9/11 Memorial Blood Drive on September 10, 2021. President and CEO Michael Stivala participated, underscoring the event's significance as the nation marks the 20th anniversary of the September 11 attacks. Presenting donors received a Red Cross first aid kit. Suburban Propane continues to support community efforts through its SuburbanCares initiative, reaching underserved areas across the U.S. and aiding healthcare professionals during the COVID-19 pandemic.