Suburban Propane Partners L P - SPH STOCK NEWS

Suburban Propane Partners, L.P. (NYSE: SPH) has extended its 2020 agreement with U-Haul to provide eco-friendly renewable propane in California. Renewable propane, made from biomass feedstocks, reduces carbon emissions and maintains performance similar to traditional propane. This initiative aligns with Suburban's commitment to sustainable energy and the "Go Green with Suburban Propane" campaign. Both companies aim to lower greenhouse gas emissions amidst the U.S.'s evolving energy policies. The partnership supports Suburban's efforts to transition to low-carbon energy alternatives.

On Sept. 28, 2021, Suburban Propane Partners, L.P. (NYSE: SPH) announced its collaboration with Shoes 4 the Shoeless to provide 300 students at Rosa Parks Elementary School in Middletown, Ohio, with new shoes. This initiative is part of Suburban Propane's SuburbanCares program, dedicated to supporting community efforts across the U.S. The partnership aims to help children in need, promoting confidence and normalcy in their school experience. Suburban Propane serves approximately 1 million customers nationwide and has been committed to community support through various initiatives.

Suburban Propane Partners, L.P. (NYSE: SPH) has partnered with the American Red Cross for the seventh annual Jersey City Police & Fire 9/11 Memorial Blood Drive on September 10, 2021. President and CEO Michael Stivala participated, underscoring the event's significance as the nation marks the 20th anniversary of the September 11 attacks. Presenting donors received a Red Cross first aid kit. Suburban Propane continues to support community efforts through its SuburbanCares initiative, reaching underserved areas across the U.S. and aiding healthcare professionals during the COVID-19 pandemic.

Suburban Propane Partners, L.P. (NYSE: SPH) announced a collaboration with 15-LOVE, providing essential back-to-school supplies for over 700 children in the Capital Region. This initiative demonstrates Suburban's commitment to community support during challenging times, as highlighted by gratitude from local leaders. Under the SuburbanCares initiative, the company aims to assist various underserved communities across the U.S. The donation's timing underlines Suburban Propane's dedication to local needs, particularly as families face rising costs for everyday items.

Suburban Propane Partners, L.P. (NYSE:SPH) reported a net loss of $26 million for Q3 2021, an increase from a $15.6 million loss in Q3 2020. Adjusted EBITDA fell to $23.3 million from $32.2 million year-over-year. Despite challenges, total volumes sold rose by nearly 2% compared to the prior year, with a notable increase in commercial demand. The company reduced debt by $30 million in the quarter and refinanced $775 million in senior notes, leading to annual interest savings of $7 million. A quarterly distribution increase to $0.325 per unit was announced, representing an 8.3% rise from the previous rate.

Suburban Propane Partners, L.P. (NYSE:SPH) has announced an increase in its quarterly distribution from $0.30 to $0.325 per Common Unit for the period ending June 26, 2021. This adjustment reflects an annualized rate of $1.30 per Common Unit, marking an 8.3% growth over the previous annualized rate. The new distribution is set to be paid on August 10, 2021, to unitholders of record as of August 3, 2021. CEO Michael A. Stivala expressed satisfaction with this increase, highlighting efforts on customer growth, debt reduction, and investment in renewable energy solutions.

Suburban Propane Partners, L.P. (NYSE:SPH) will host its Fiscal 2021 Third Quarter Results Conference Call on August 5, 2021, at 9:00 AM ET. Analysts and investors can join via the internet or by phone at (888) 317-6003 with access code 3840565. A replay will be available from 12:00 PM ET on August 5 until 12:00 AM ET on August 12 by calling (877) 344-7529, access code 10157939. Suburban Propane, established in 1928, serves approximately 1 million customers across 41 states and focuses on propane, renewable fuels, and customer service excellence.

Suburban Propane Partners, L.P. (NYSE: SPH) presented the 2021 SuburbanCares Award to disability advocate Eric LeGrand at its Whippany, NJ headquarters. This award recognizes LeGrand’s contributions to the Christopher and Dana Reeve Foundation, which focuses on enhancing the quality of life for individuals with spinal cord injuries. In addition, Suburban Propane made a significant donation to support Team LeGrand. The company is committed to philanthropy and community outreach, with initiatives in several cities across the U.S., aiming to assist children in underserved communities and support healthcare workers during the COVID-19 pandemic.

Suburban Propane Partners, L.P. (NYSE: SPH) recently held a community street party in Detroit, providing over 300 meals for families through a partnership with Brilliant Detroit. This initiative is part of their SuburbanCares platform, focusing on supporting underserved communities. Donations also included sports memorabilia for children. The company's commitment aims to address food insecurity and support local families impacted by the COVID-19 pandemic. Suburban Propane continues its outreach by helping communities across multiple states.