Suburban Propane Partners L P - SPH STOCK NEWS

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.

On May 24, 2021, Suburban Propane Partners, L.P. (NYSE:SPH) completed a private offering of $650 million in 5.000% Senior Notes due 2031. The net proceeds of approximately $639.9 million will refinance existing 5.500% and 5.750% Senior Notes. As of May 21, 2021, 69.54% and 67.59% of the 2024 and 2025 Senior Notes, respectively, have been tendered. Holders of accepted notes will receive cash payments today, with redemption for remaining notes scheduled on May 27 and June 1, 2021.

Suburban Propane Partners, L.P. (NYSE: SPH) hosted a pizza party for 400 students and staff at the Boys & Girls Clubs of Sonoma-Marin in Santa Rosa, CA, celebrating their efforts during challenging times. This event, part of SuburbanCares, reflects the company's commitment to community support. Suburban Propane also contributed to various initiatives, including healthcare support during COVID-19 and a recent donation to Santa Rosa's reforestation project. The company's ongoing efforts demonstrate its dedication to giving back to local communities across the United States.