Steel Partners Hldgs L P Stock Price, News & Analysis

Steel Partners Holdings L.P. (NYSE: SPLP) has appointed Stephanie McKinney as Chief Human Resources Officer. McKinney, who has over 20 years of HR experience in various industries, previously served as Vice President of Human Resources at Siemens Energy. She will succeed Pete Marciniak, who is retiring after 35 years with the company. Executive Chairman Warren Lichtenstein praised McKinney's strategic leadership skills and looks forward to enhancing the company’s high-performance culture. Steel Partners operates in diverse sectors including industrial products and logistics.

Steel Partners Holdings L.P. (NYSE: SPLP) announced the release of its annual letter from Executive Chairman Warren Lichtenstein, detailing the Company’s 2021 financial performance and strategic outlook. The letter encompasses reviews of financial results, updates on the Company's holdings across various sectors, including industrial products and logistics, and insights into future strategies. Investors can access the full letter on Steel Partners' investor relations website.

Steel Partners Holdings L.P. (NYSE: SPLP) reported strong financial results for Q4 2021, with revenue reaching $431.9 million, a 27.5% increase year-over-year. Net income attributable to common unitholders was $28.9 million, or $1.25 per diluted unit. For the full year, revenue totaled $1.5 billion, representing a 16.3% increase. Adjusted EBITDA stood at $63.2 million for Q4, with a margin of 14.6%. Total debt decreased to $271.0 million. The company highlighted strong cash flow and operational resilience amid supply chain challenges and COVID-19 impacts.

Steel Partners Holdings L.P. (NYSE: SPLP) has announced a regular quarterly cash distribution of $0.375 per unit on its 6% Series A Preferred Units. This payment will be made on March 15, 2022, to unitholders on record as of March 1, 2022. Future distributions will be at the discretion of the board and will depend on various factors including the company's operational results, cash flows, and financial position.

iGo, Inc. (OTC PINK: IGOI) announced that Steel Excel Inc., its largest stockholder, has entered stock purchase agreements to acquire shares at $5.50 per share. Post-acquisition, Steel Excel will hold over 90% of iGo's outstanding shares. A merger is planned for January 14, 2022, without a stockholder vote, converting remaining shares into cash at the same price. Following the merger, iGo will be an indirect wholly owned subsidiary of Steel Excel and will cease trading on OTC Markets.

Steel Partners Holdings L.P. (NYSE: SPLP) announced an amendment and extension to its credit agreement with PNC Bank, securing a five-year, $600 million revolving credit facility for its entities, excluding WebBank. This facility includes provisions for swing line loans, standby letters of credit, and a currency sub-limit. The facility may be increased by $300 million under certain conditions. The credit will support general corporate purposes and enhance liquidity for future growth and acquisitions, as stated by Executive Chairman Warren Lichtenstein.

Steel Partners Holdings L.P. (SPLP) reported Q3 2021 revenue of $392.1 million, up 18.7% year-over-year, driven by a strong sales volume across all segments amidst recovering economic conditions. Net income from continuing operations was $22.1 million, with earnings per diluted common unit at $0.92. Adjusted EBITDA reached $72.5 million, reflecting an 18.5% margin. Year-to-date revenue totaled $1.1 billion, a 12.5% increase. Total debt stood at $263.4 million. The company also announced a quarterly cash distribution of $0.375 per Series A Preferred Unit, payable December 15, 2021.

Steel Sports has officially opened Lasorda Legacy Park, formerly Baseball Heaven, in Yaphank, NY, to honor Hall of Fame Manager Tommy Lasorda. This state-of-the-art facility will host Team Steel NY and numerous youth baseball and softball tournaments, attracting over 250,000 families annually. Founded by Warren Lichtenstein in 2011, Steel Sports promotes youth development through its coaching system, 'The Lasorda Way.' The Grand Opening ceremony is scheduled for September 19, 2021, celebrating Lasorda's enduring legacy in sports and community.

Steel Partners Holdings L.P. (SPLP) reported strong Q2 2021 results, with revenue reaching $386.4 million, a 31.3% increase from Q2 2020. Net income from continuing operations was $27.4 million, up from $17,000 last year, marking a recovery to pre-pandemic levels. Adjusted EBITDA rose to $74.4 million, reflecting improved profitability across segments. Despite rising costs, particularly in goods sold, the company reported lower interest expenses. A quarterly cash distribution of $0.375 per unit was declared, payable September 15, 2021.