Suburban Propane Partners Stock Price, News & Analysis

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.

Suburban Propane Partners, L.P. (NYSE:SPH) has declared a quarterly distribution of $0.30 per Common Unit for the period ending December 26, 2020. This amount translates to an annualized rate of $1.20 per Common Unit. The distribution will be payable on February 9, 2021 to Common Unitholders of record by February 2, 2021. Suburban Propane serves roughly 1.0 million customers across 41 states from about 700 locations, providing propane, fuel oil, natural gas, and electricity.

Suburban Propane Partners, L.P. (NYSE: SPH) announced its Fiscal 2021 First Quarter Results Conference Call scheduled for February 4, 2021, at 9:00 AM Eastern Time. Investors can access the call online at www.suburbanpropane.com or by phone at (844) 750-4872 with Access Code 6596828. A replay will be available from 12:00 PM ET on February 4 until 11:55 PM ET on February 11, 2021. Suburban Propane serves approximately 1.0 million customers across 41 states from roughly 700 locations.

Suburban Propane Partners (NYSE: SPH) has been named a finalist for the Targeted Corporate Social Responsibility Award at the 2020 S&P Global Platts Global Energy Awards. This recognition honors the company's SuburbanCares initiative, which provided essential fuel and meal donations during the COVID-19 pandemic. Suburban Propane is competing against 15 other companies in this prestigious award category. The winners will be announced on December 10, 2020, during a virtual gala hosted by Jason Alexander.

Suburban Propane Partners, L.P. (NYSE:SPH) has filed its Annual Report on Form 10-K for the fiscal year ended September 26, 2020, with the SEC. This report covers the Partnership's operations, which include distributing propane, fuel oil, and related services to approximately 1 million customers across 41 states from about 700 locations. The annual report is available on their website, and unitholders or noteholders can request a hard copy for free by contacting Investor Relations.