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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) 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.
Steel Partners has partnered with Paralympic swimmer Morgan Stickney to inspire youth through sports. Morgan, who overcame serious health issues, will share her journey and values of perseverance and grit with young athletes across the country. This collaboration aims to promote the importance of teamwork, respect, and integrity, as well as enrich the experiences of over 100,000 young athletes annually through Steel Sports. As part of her role, Morgan will join the Steel Sports National Advisory Board, furthering their mission to develop future leaders in sports.
Steel Partners Holdings L.P. (NYSE: SPLP) reported Q1 2021 revenue of $314,493, a 9.4% decrease from $347,210 in Q1 2020. Despite lower sales volume, net income from continuing operations improved to $53,342 from a loss of $36,479 a year earlier. Adjusted EBITDA increased to $49,776, with a margin of 15.8%. Notably, the company reduced total debt by approximately $39.5 million, achieving total debt of $294.6 million. Liquidity remains strong at $355.7 million. The executive team emphasizes continued operational improvement and cost reduction strategies.