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) is a diversified global holding company with interests in diversified industrial products, energy, defense, supply chain management and logistics, banking, and youth sports. The SPLP news page on Stock Titan aggregates company announcements and disclosures that explain how this partnership manages its portfolio, capital structure, and governance.
Recent news has covered strategic capital and listing decisions, including the voluntary delisting of Steel Partners’ common units and 6.0% Series A Preferred Units from the New York Stock Exchange, the transition to quotation on the OTCQX platform, and the planned deregistration of these securities under the Securities Exchange Act of 1934. Other releases describe regular quarterly cash distributions on the Series A Preferred Units and the full cash redemption of all remaining outstanding preferred units at a specified redemption price plus accrued and unpaid distributions.
Investors and analysts following SPLP can also use this news feed to track developments in ownership and partnership structure, such as the exercise by Steel Excel, Inc., an affiliate of the general partner, of its right under the limited partnership agreement to purchase all outstanding common units not held by the general partner and its affiliates and that have not demanded appraisal rights. Operational updates, including quarterly and annual financial results, highlight performance across segments such as Diversified Industrial, Supply Chain, Financial Services, and Energy.
Beyond financial and capital markets information, Steel Partners’ news also features updates from Steel Sports, its youth sports and social impact subsidiary, including appointments to the Steel Sports Advisory Board and initiatives designed to put Kids First and promote values-based coaching. Visitors can review these articles to understand both the financial profile of SPLP and its broader activities across its family of companies.
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.
Steel Partners Holdings L.P. (NYSE: SPLP) has declared a quarterly cash distribution of $0.375 per unit on its 6% Series A Preferred Units. This distribution is payable on June 15, 2021, to unitholders of record as of June 1, 2021. Future distribution decisions will depend on various factors, including financial performance and cash flow.
Steel Partners is a diversified holding company involved in sectors such as energy, defense, and logistics.
Steel Partners Holdings L.P. (NYSE: SPLP) released its annual letter from Executive Chairman Warren Lichtenstein, detailing the Company's 2020 financial results, highlights from its holdings, and future strategies. The letter emphasizes the Company’s diversified interests across multiple sectors, including industrial products, energy, and banking. It also addresses forward-looking statements regarding SPLP's expectations, risks related to COVID-19, financial reporting, and market volatility. Investors are advised to review the risk factors affecting SPLP's performance as outlined in their SEC filings.
FAQ
What is the current stock price of Steel Partners Hldgs L P (SPLP)?
What is the market cap of Steel Partners Hldgs L P (SPLP)?
