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Steel Partners Holdings L.P. - SPLP STOCK NEWS

Welcome to our dedicated page for Steel Partners Holdings L.P. news (Ticker: SPLP), a resource for investors and traders seeking the latest updates and insights on Steel Partners Holdings L.P. stock.

Steel Partners Holdings L.P., listed on the NYSE under the symbol SPLP, is a globally diversified holding company. Its extensive portfolio spans various sectors, including diversified industrial products, energy, defense, supply chain management and logistics, banking, food products and services, oilfield services, sports, training, education, and entertainment and lifestyle industries.

Core Business: The company operates through multiple segments:

  • Diversified Industrial Segment: This includes manufacturers of engineered niche industrial products such as joining materials, tubing, building materials, performance materials, electrical products, cutting replacement products and services, and metallized films and packaging businesses.
  • Energy Segment: This division provides essential drilling and production services to the oil and gas industry, and also includes a youth sports business.
  • Financial Services Segment: Operating primarily through WebBank, a Utah-chartered industrial bank, this segment offers a full range of banking activities.

Recent Achievements and Projects: Steel Partners Holdings L.P. is continuously expanding its portfolio and improving its financial health. The company's recent ventures in energy services and youth sports have shown significant promise, reflecting in their financial performance.

Partnerships and Financial Condition: Known for its strategic partnerships and solid financial condition, SPLP collaborates with leading industry players to optimize its diverse operations. This robust framework ensures steady growth and innovation across all its segments.

Overall, Steel Partners Holdings L.P. stands out for its diversified approach, making it a significant player in various industries and a reliable investment in the stock market.

Rhea-AI Summary

WebBank, a subsidiary of Steel Partners Holdings (NYSE: SPLP), has been named one of the 2024 Best Places to Work in Financial Technology. This marks the second year in a row that WebBank has earned this recognition, ranking ninth among forty companies. The awards, managed by Arizent and Best Companies Group, highlight excellence in workplace culture in the fintech industry. WebBank's leadership attributes this achievement to their focus on innovation and an empowering work environment. Despite challenges in the fintech sector, the recognition underscores WebBank's commitment to creating jobs and fostering a positive workplace. The 2024 list was published on May 6, 2024.

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Steel Partners Holdings reported strong first-quarter financial results with revenue of $476.3 million, up by 7.0% YoY, and net income of $34.8 million, a 40.3% increase. Adjusted EBITDA was $58.6 million with a margin of 12.3%. The company focused on managing inflation and reducing expenses, especially in SG&A. Revenue growth was driven by the Supply Chain and Financial Services segments, offset by declines in Energy and Diversified Industrial segments.

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Steel Partners Holdings L.P. declared a regular quarterly cash distribution of $.375 per unit on its 6% Series A Preferred Units, payable on June 15, 2024. The distribution is subject to the discretion of the board of directors based on various factors.

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Steel Partners Holdings L.P. (SPLP) releases its annual letter from Executive Chairman Warren Lichtenstein, discussing the Company's 2023 financial results, highlights from its holdings, and future strategy.
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Steel Partners Holdings L.P. (SPLP) reported fourth quarter and full-year 2023 results with revenue totaling $466.9 million and $1.9 billion, respectively. Net income for the quarter was $42.7 million, and $154.0 million for the year. Adjusted EBITDA was $59.4 million for the quarter and $240.6 million for the year. The company's net cash provided by operating activities was $9.5 million for the quarter and $21.2 million for the year. Total debt stood at $191.4 million, with net cash totaling $56.4 million.
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Steel Sports releases a report showcasing the success of their Steel Sports Coaching System: The Lasorda Way, with a focus on character growth and athletic development. The system's four Core Values of Teamwork, Respect, Integrity, and Commitment have led to a 100% graduation rate for high school senior athletes, with 89% continuing to college and 52% playing college sports. Steel athletes exhibit positive traits like grit and growth mindset, with over 80% showing appropriate reactions to failures and a focus on effort over outcomes.
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WebBank, a subsidiary of Steel Partners Holdings (SPLP), has been recognized as a winner of Glassdoor's Employees' Choice Awards for the Best Places to Work 2024, ranking second among 50 small to medium-sized businesses. This is the second consecutive year WebBank has received this honor, based on anonymous employee feedback.
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Steel Partners Holdings L.P. (SPLP) has announced the abandonment of its previously announced 1-for-12,500 reverse unit split of its common units, followed by a 12,500-for-1 forward unit split. The Reverse/Forward Unit Split was expected to become effective on January 11, 2024.
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Steel Partners Holdings L.P. (NYSE: SPLP) has announced an extension of the effective date of its 1-for-12,500 reverse unit split followed by a 12,500-for-1 forward unit split. The Reverse Unit Split is expected to become effective as of 5:00 p.m. Eastern Time on January 11, 2024, followed immediately by the Forward Unit Split at 5:01 p.m. Eastern Time on the same day. The Company Common Units are expected to begin trading on a split-adjusted basis when the market opens on January 12, 2024. The Company reserves the right to abandon, modify, or extend the Reverse/Forward Unit Split at any time prior to the Effective Date. No fractional units will be issued, and instead, the Company will pay cash to any unitholder who would be entitled to receive a fractional unit as a result of the Reverse/Forward Unit Split. Registered unitholders holding pre-split Company Common Units electronically in book-entry form are not required to take any action to receive post-split units.
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Steel Partners Holdings L.P. (NYSE: SPLP) announced a 1-for-12,500 reverse unit split followed by a 12,500-for-1 forward unit split of its common units. The Reverse/Forward Unit Split is expected to be effective on January 8, 2024, with the Company Common Units continuing to trade on the NYSE under the existing symbol 'SPLP' on a split-adjusted basis starting January 9, 2024.
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FAQ

What is Steel Partners Holdings L.P. (SPLP)?

Steel Partners Holdings L.P. is a global diversified holding company operating in sectors like industrial products, energy, defense, and banking.

What industries does SPLP operate in?

SPLP operates in diversified industrial products, energy, defense, supply chain management, logistics, banking, youth sports, and more.

What are the core business segments of SPLP?

SPLP's core business segments are Diversified Industrial, Energy, and Financial Services.

What does the Diversified Industrial Segment include?

It includes manufacturers of engineered niche industrial products such as joining materials, tubing, and electrical products.

What services does the Energy Segment provide?

The Energy Segment offers drilling and production services to the oil and gas industry and includes a youth sports business.

What is the role of WebBank in SPLP?

WebBank, part of SPLP's Financial Services Segment, engages in a full range of banking activities.

What are some recent achievements of SPLP?

SPLP has expanded its energy services and youth sports ventures, significantly improving its financial performance.

How does SPLP ensure steady growth?

SPLP ensures steady growth through strategic partnerships, a diversified portfolio, and continuous innovation across its segments.

Why is SPLP a reliable investment?

SPLP's diversified approach and robust financial condition make it a reliable investment in various industries.

How can I stay updated on SPLP's latest news?

You can stay updated by visiting StockTitan or the company's official webpage for the latest news and developments.

Steel Partners Holdings L.P.

NYSE:SPLP

SPLP Rankings

SPLP Stock Data

764.45M
20.39M
46.08%
37.83%
0.02%
Offices of Other Holding Companies
Management of Companies and Enterprises
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United States of America
NEW YORK