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 reported fiscal year 2024 results with net income of $74.2 million ($1.15 per Common Unit), down from $123.8 million in 2023. Adjusted EBITDA decreased to $250.0 million from $275.0 million. Retail propane gallons sold declined 4.6% to 378.3 million gallons due to unseasonably warm temperatures. The company's RNG operations showed improvement with a 20% increase in daily injection rates, averaging 1,049 MMBtu per day. Total gross margins decreased 4.1% to $805.0 million. The company maintained its quarterly distribution of $0.325 per Common Unit and completed three propane business acquisitions for $14.3 million.
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.
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.
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.
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.
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.
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.
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.
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.
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.