Suburban Propane Partners Stock Price, News & Analysis

Suburban Propane Partners, L.P. (NYSE:SPH) announced its Fiscal 2021 Second Quarter Results Conference Call scheduled for May 6, 2021, at 9:00 AM Eastern Time. Interested parties can access the call online or via telephone. The conference will cover the company's quarterly results and business outlook. A replay will be available from noon on the same day until midnight on May 13, 2021. Suburban Propane, a distributor of propane and related products, serves over 1 million customers across 41 states.

Suburban Propane Partners (NYSE: SPH) collaborated with Tanger Outlets and the Charleston RiverDogs to benefit Lowcountry Orphan Relief by providing essential items for children ages 5-18. On April 5 and April 12, 2021, the partnership resulted in 100 care packs filled with clothing, shoes, face masks, and toys. The initiative aligns with Suburban Propane's corporate social responsibility efforts under the SuburbanCares program, showcasing the company's commitment to community support across the United States.

Suburban Propane Partners (NYSE:SPH) announced its support for reforestation in Northern California, committing funds to replace dead trees in Santa Rosa's downtown, a project delayed by the 2019 wildfires and the pandemic. The initiative aims to aid local businesses and improve the community’s landscape. Additionally, Suburban Propane extended its contract for renewable propane supply in California, set to provide around 1 million gallons through March 2022, highlighting its focus on low-carbon energy solutions amidst rising demand.

Agway Energy Services, a subsidiary of Suburban Propane, announces its partnership with the Pittsburgh Penguins to offer a limited edition Iceburgh bobblehead. This promotion begins on March 30, 2021, for new and returning customers signing up for natural gas or electricity services through May 31, 2021. Customers also gain access to the EnergyGuard™ repair program, providing 24/7 support. Agway Energy has been serving customers in Pennsylvania, Maryland, and New York for over 20 years, enhancing community engagement through this partnership.

Suburban Propane Partners, L.P. (NYSE: SPH) has created a new executive role, Vice President, Strategic Initiatives – Renewable Energy, to enhance its Go Green corporate pillar. This position aims to support long-term growth through renewable energy investments and strategic partnerships. M. Douglas Dagan, with extensive experience in renewable energy advocacy, will occupy this role. CEO Michael A. Stivala emphasized that this initiative is part of their commitment to reduce greenhouse gas emissions while expanding their renewable propane supply chain. Suburban serves over 1 million customers nationwide.

Suburban Propane Partners, L.P. (NYSE: SPH) has donated hygiene kits to Cradles to Crayons in Philadelphia, benefitting 1,000 children in need. This initiative is part of SuburbanCares, the company's community support platform. The kits include essential items such as shampoo and body wash, accompanied by branded toy bears. This effort addresses the heightened needs of children affected by the COVID-19 pandemic. Suburban Propane continues to engage in community support across the U.S., having previously provided aid to healthcare professionals in major cities during the pandemic.

Suburban Propane Partners, L.P. (NYSE:SPH) announced its 2021 Tri-Annual Meeting scheduled for May 18, 2021, at 10:00 a.m. E.T. Due to the COVID-19 pandemic, the meeting will be held virtually, with Unitholders unable to attend in person. Further details regarding participation will be provided in the proxy statement sent to Unitholders prior to the meeting. Suburban Propane, headquartered in Whippany, N.J., has served various customer sectors since 1928 and operates approximately 700 locations across 41 states.

Suburban Propane Partners, L.P. (NYSE:SPH) reported first-quarter fiscal 2021 net income of $38.0 million ($0.61 per Common Unit), down from $40.2 million ($0.65 per Common Unit) year-over-year. Adjusted EBITDA fell to $80.0 million from $85.4 million due to unseasonably warm weather impacting propane demand. Revenues decreased by 8.6% to $305.2 million, driven by a 7.8% drop in retail propane gallons sold. Despite challenges, the Partnership is advancing strategic initiatives including the acquisition of a North Carolina propane business. A quarterly distribution of $0.30 per Common Unit was declared.

Suburban Propane Partners, L.P. (NYSE: SPH) has registered its "Go Green with Suburban Propane" trademark with the USPTO, reinforcing its commitment to sustainable energy. This initiative promotes the clean-burning benefits of propane, aiming for a zero-carbon future. Key efforts include partnerships for eco-friendly propane distribution in California and a 39% equity stake in Oberon Fuels, focusing on renewable Dimethyl Ether production. The company services over 1 million customers across 41 states and has a legacy of over 90 years in the propane industry.