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. reports news around its role as a publicly traded master limited partnership that distributes propane, renewable propane, renewable natural gas, fuel oil and related energy products and services. The partnership also markets natural gas and electricity and develops low-carbon fuel alternatives through its renewable energy platform.
Recurring updates include quarterly financial results, propane volume and margin commentary, commodity-price effects, derivative mark-to-market adjustments and Adjusted EBITDA measures. News also covers common-unit distribution declarations, financing actions involving credit facilities, senior notes and at-the-market equity issuance, acquisitions of propane businesses, renewable energy leadership and commercial partnerships such as its NASCAR fueling and race operations relationship.
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.
Suburban Propane Partners (NYSE: SPH) has teamed up with the American Red Cross and Martina McBride to promote blood donation during the holiday season. This initiative is part of the company's SuburbanCares program, aimed at community outreach. From now until December 15, donors can enter to win a propane-powered outdoor living experience. With rising COVID-19 cases, the Red Cross highlights an urgent need for blood donations. Suburban Propane emphasizes its commitment to community support through this partnership and encourages eligible individuals to donate blood.
Suburban Propane Partners, L.P. (NYSE: SPH) announced the election of Matthew J. Chanin as Chairman of the Board, effective January 1, 2021. Chanin, a board member since November 2012, has extensive experience in investment management, particularly in the energy sector. He succeeds Harold R. Logan, Jr., who has been Chairman for 14 years and will remain on the board to aid in the leadership transition. The board emphasizes continuity and growth as the company progresses into a new strategic phase.
Suburban Propane Partners, L.P. (NYSE: SPH) reported a net income of $60.8 million for fiscal year 2020, down from $68.6 million in 2019. Adjusted EBITDA decreased to $253.7 million from $275.0 million, impacting performance due to warmer weather and the COVID-19 pandemic. Revenues also fell 12.6% to $1,107.9 million, with retail propane gallons sold down 5.6%. In Q4, the company posted a net loss of $41.2 million but improved Adjusted EBITDA to $5.5 million. A quarterly distribution of $0.30 per unit was declared, reflecting ongoing commitment to shareholders.