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) 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.
Suburban Propane Partners (NYSE:SPH) has declared a quarterly distribution of $0.325 per Common Unit for the three months ended June 29, 2024. This equates to an annualized rate of $1.30 per Common Unit. The distribution is payable on August 13, 2024 to Common Unitholders of record as of August 6, 2024.
Suburban Propane is a publicly traded master partnership listed on the NYSE. It's a nationwide distributor of propane, renewable propane, renewable natural gas, and related products, serving approximately 1 million customers through 700 locations across 42 states. The company focuses on customer service, community involvement, and promoting propane as a clean energy source.
Suburban Propane Partners (NYSE:SPH) has scheduled its Fiscal 2024 Third Quarter Results Conference Call for Thursday, August 8, 2024, at 9:00 AM Eastern Time. Interested parties can access the call via the company's website or by phone. A replay will be available until August 15, 2024.
Suburban Propane, headquartered in Whippany, New Jersey, is a nationwide distributor of propane, renewable energy, and related products and services. The company serves approximately 1 million customers across 42 states through 700 locations. Suburban Propane focuses on customer service, community involvement, and promoting propane as a clean energy solution.
Suburban Renewable Energy, a subsidiary of Suburban Propane Partners, L.P. (NYSE: SPH), has been named a finalist in the Reuters Global Energy Transition Awards 2024. Recognized in the Portfolio Transformation category, the award highlights significant portfolio evolution and a shift towards clean energy. Suburban Propane’s move to form Suburban Renewables in 2022 is a key part of its strategy to diversify its portfolio with renewable propane, rDME, hydrogen, and RNG. The Reuters Global Energy Transition Conference will take place in New York from June 25-27. The company aims to reduce its reliance on conventional energy sources and lead the way in renewable energy.
Spokesperson Nandini Sankara emphasized the company's commitment to the renewable energy future. Suburban Propane serves approximately one million customers across 42 states with various energy needs, including renewable energy solutions. The company also prioritizes community engagement and green initiatives through its Suburban Commitment, SuburbanCares, and Go Green with Suburban Propane pillars. For more details, visit Suburban Propane's website or the Reuters event page.
Suburban Propane Partners, L.P. (NYSE: SPH) has been nominated as one of the '2024 Top Companies for Women to Work in Transportation' by the Women in Trucking Association. This recognition highlights Suburban Propane's commitment to gender diversity and inclusive workplace practices. The company employs approximately 1,180 women, nearly one-third of its workforce, across 42 states. Suburban Propane offers competitive compensation, comprehensive benefits, and promotes work-life balance by ensuring schedules that allow drivers to return home nightly. This nomination underscores the company's efforts to support women's progress in the transportation industry, a historically male-dominated field.
Suburban Propane Partners (NYSE: SPH) marked World Caring Day and World LPG Day on June 7, 2024, with various community and environmental initiatives nationwide. Employees volunteered at multiple organizations, including the Lincolnville Museum & Cultural Center in Florida, the American Red Cross in California, and Keep Austin Fed in Texas. Suburban Propane also engaged in environmental clean-up efforts in locations like Brevard, North Carolina, and Detroit, Michigan, through its 'Go Green with Suburban Propane' program. These actions highlight the company's commitment to community service and sustainable energy solutions, involving over 60 employees and their families.
On May 21, 2024, Suburban Propane Partners (NYSE:SPH), conducted its Tri-Annual Meeting of Unitholders. All eight nominees for the Board of Supervisors were re-elected for a three-year term. The Unitholders ratified PricewaterhouseCoopers LLP as the independent accounting firm for 2024 and approved the Amended and Restated 2018 Restricted Unit Plan, authorizing the issuance of an additional 2,650,000 common units. An advisory amendment approving executive compensation was also passed. Detailed voting results are available on Suburban Propane's website and in their SEC filing.
Suburban Propane Partners (NYSE: SPH), a nationwide distributor of propane and related products, has been recognized in the 2023 Military Times: Best for Vets Employers ranking. This annual survey highlights companies with exemplary military-connected employment programs. Suburban Propane's inclusion among the top 230 employers nationwide underscores its commitment to providing meaningful career opportunities for veterans. The company's 'Heroes Hired Here' program is a testament to its efforts in supporting former military service members. Suburban Propane's dedication to veterans aligns with its core values and commitment to fostering a diverse and inclusive workplace.