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) 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.
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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.
Steel Partners Holdings L.P. (NYSE: SPLP) released a letter from Executive Chairman Warren Lichtenstein commemorating the late Tommy Lasorda, a long-time member of the Steel Sports Advisory Board. Lasorda played a crucial role in establishing Steel Sports, promoting youth development through character building and self-confidence. His legacy includes inspiring countless children and sharing his wisdom to encourage them. The letter reflects on his contributions and can be accessed on the company's website.
Steel Partners Holdings LP (NYSE: SPLP) announced the appointment of Jason Lloyd as the new President of WebBank, succeeding Kelly Barnett. Lloyd, who joined WebBank in 2008, previously served as Executive Vice President of Business Development and played a key role in the bank's strategy. Executive Chairman Jack Howard highlighted Lloyd's leadership qualities and commitment to stakeholder value. Barnett's nine-year tenure set a solid foundation for the bank's growth. WebBank is a FDIC insured industrial bank offering customized financing solutions.
Steel Partners Holdings L.P. (SPLP) reported Q3 2020 revenues of $330 million, down 11.1% from Q3 2019. Year-to-date revenue fell 12.5% to $973 million, driven by COVID-19's impact. Net income from continuing operations rose to $37.4 million, up 57.5% year-over-year, while adjusted EBITDA increased to $73.3 million, with a margin of 22.2%. Cost-cutting measures included salary reductions and hiring freezes. Liquidity stood at $254.4 million, with total debt reduced to $302.7 million. The Company continues to manage the ongoing pandemic's challenges.
Steel Sports, focusing on youth development, partnered with Carrot Group to offer character development training at esports tournaments. On October 5, nearly 100 students from Downey and Warren High Schools received coaching from Steve Jones, emphasizing teamwork, respect, integrity, and commitment. The initiative highlights the synergy between esports and STEAM education. Winners of the tournament will experience a prize provided by Aerojet Rocketdyne, showcasing Steel Partners' diverse portfolio. Steel Sports aims to inspire over 100,000 young athletes annually.