Steel Partners Hldgs L P Stock Price, News & Analysis

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.

Steel Partners Holdings L.P. (NYSE: SPLP) reported its Q4 and FY 2020 operating results, revealing a revenue decline to $338.7 million in Q4 2020 from $346.7 million in Q4 2019, and total FY revenue at $1.31 billion, down from $1.46 billion the previous year. Despite challenges, the company achieved net income from continuing operations of $94.2 million in Q4 and $83.5 million for FY 2020, showcasing improved EBITDA margins of 19.8%. The Executive Chairman highlighted cost reductions and operational improvements, leading to increased cash flow despite lower revenues.

Steel Partners Holdings L.P. (NYSE: SPLP) has appointed Rory Yanchek as the new President of MTI. Warren Lichtenstein, Executive Chairman, expressed confidence in Rory's leadership abilities, citing his extensive experience at 3M, where he held senior roles including Vice President of the Government business. Rory aims to continue MTI's legacy of growth and exceptional customer value. He holds an MBA from the University of St. Thomas and a bachelor's degree from East Stroudsburg University, along with serving in the United States Army.

Steel Partners Holdings L.P. (NYSE: SPLP) has declared a regular quarterly cash distribution of $0.375 per unit, scheduled for March 15, 2021, to unitholders on record as of March 1, 2021, for its 6% Series A Preferred Units. Future distribution payments will be determined by the board of directors based on various factors including operational results, cash flow, financial position, and capital requirements.