Welcome to our dedicated page for Steel Partners Hldgs L P news (Ticker: SPLP), a resource for investors and traders seeking the latest updates and insights on Steel Partners Hldgs L P stock.
Steel Partners Holdings L.P. (SPLP) operates as a global diversified holding company with interests spanning industrial products, energy services, financial solutions, and specialized sectors including defense and logistics. This news hub provides investors and industry professionals with centralized access to official updates and analysis on SPLP's multifaceted operations.
Our curated collection of press releases and news articles offers timely insights into earnings reports, strategic acquisitions, sector-specific developments, and leadership announcements. Users will find verified information on corporate milestones across SPLP's industrial manufacturing divisions, WebBank financial services, energy operations, and emerging market ventures.
This resource serves as an essential tool for monitoring the company's performance in key areas such as engineered industrial components, oilfield services, and cross-sector partnerships. Content is organized to highlight operational achievements while maintaining compliance with financial disclosure standards.
Bookmark this page for streamlined access to SPLP's evolving business narrative, supported by factual reporting and neutral commentary. Regular updates ensure stakeholders remain informed about this diversified corporation's position across multiple industries.
Steel Partners Holdings L.P. (NYSE: SPLP) reported strong financial results for Q2 2024. Revenue increased 6.4% to $533.2 million, while net income surged 113.2% to $124.9 million. The company's performance was driven by improved results in its Diversified Industrial, Financial Services, and Supply Chain segments. Key highlights include:
- Net income attributable to common unitholders: $116.3 million ($4.85 per diluted unit)
- Adjusted EBITDA: $83.8 million (15.7% margin)
- Net cash provided by operating activities: $69.0 million
- Total debt reduced to $78.7 million
- Net cash position of $53.7 million
The company also recorded a $71.5 million non-cash tax benefit due to the release of a portion of Steel Connect's valuation allowance for deferred tax assets. Steel Partners continues to focus on capital allocation, generating free cash flow, and reducing debt.
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.
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.
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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