Suburban Propane Partners L P - SPH STOCK NEWS

Suburban Propane Partners, L.P. (NYSE:SPH) has filed its Annual Report on Form 10-K for the fiscal year ended September 26, 2020, with the SEC. This report covers the Partnership's operations, which include distributing propane, fuel oil, and related services to approximately 1 million customers across 41 states from about 700 locations. The annual report is available on their website, and unitholders or noteholders can request a hard copy for free by contacting Investor Relations.

Suburban Propane Partners (NYSE: SPH) has teamed up with the American Red Cross and Martina McBride to promote blood donation during the holiday season. This initiative is part of the company's SuburbanCares program, aimed at community outreach. From now until December 15, donors can enter to win a propane-powered outdoor living experience. With rising COVID-19 cases, the Red Cross highlights an urgent need for blood donations. Suburban Propane emphasizes its commitment to community support through this partnership and encourages eligible individuals to donate blood.

Suburban Propane Partners, L.P. (NYSE: SPH) announced the election of Matthew J. Chanin as Chairman of the Board, effective January 1, 2021. Chanin, a board member since November 2012, has extensive experience in investment management, particularly in the energy sector. He succeeds Harold R. Logan, Jr., who has been Chairman for 14 years and will remain on the board to aid in the leadership transition. The board emphasizes continuity and growth as the company progresses into a new strategic phase.

Suburban Propane Partners, L.P. (NYSE: SPH) reported a net income of $60.8 million for fiscal year 2020, down from $68.6 million in 2019. Adjusted EBITDA decreased to $253.7 million from $275.0 million, impacting performance due to warmer weather and the COVID-19 pandemic. Revenues also fell 12.6% to $1,107.9 million, with retail propane gallons sold down 5.6%. In Q4, the company posted a net loss of $41.2 million but improved Adjusted EBITDA to $5.5 million. A quarterly distribution of $0.30 per unit was declared, reflecting ongoing commitment to shareholders.

Suburban Propane Partners, L.P. (NYSE: SPH) announced its Fiscal 2020 Full Year and Fourth Quarter Results Conference Call scheduled for November 12, 2020, at 9:00 AM ET. The call will provide insights into the company's financial performance and future outlook.

Listeners can access the call via www.suburbanpropane.com or by phone at (888) 317-6003 with Access Code 6148321. A playback of the call will be available from 12:00 PM ET on the same day until 12:00 AM ET on November 19, 2020.

Suburban Propane Partners, L.P. (NYSE: SPH) announced a quarterly distribution of $0.30 per Common Unit for the period ended September 26, 2020, equating to an annualized rate of $1.20. The distribution is payable on November 10, 2020, for Unitholders recorded by November 3, 2020. The company operates in the energy sector, serving around 1.0 million customers from approximately 700 locations across 41 states.

Suburban Propane Partners, L.P. (NYSE:SPH) has announced a partnership with U-Haul to provide renewable propane in California. This eco-friendly fuel, derived from renewable resources, boasts lower carbon emissions compared to traditional propane. The collaboration aligns with Suburban Propane's 'Go Green' initiative, which aims to promote sustainable energy solutions. The partnership is part of broader efforts to address aggressive carbon reduction goals in the state. This strategic move highlights Suburban Propane's commitment to innovation in the energy sector while supporting environmentally friendly practices.

Suburban Propane Partners (SPH) announced on Sept. 17, 2020, its acquisition of a 39% stake in Oberon Fuels, a developer of renewable dimethyl ether (rDME) fuel. This investment, aimed at reducing carbon emissions, positions SPH strategically to market rDME/propane blends in North America. The rDME fuel offers a cost-effective alternative to diesel, boasting a significant negative Carbon Intensity (CI) value. Additionally, SPH will support Oberon's development of rDME production from pulp mill waste, expected to start in 2021, enhancing its green energy offerings.

On September 9, 2020, Suburban Propane Partners, L.P. (SPH) partnered with the Los Angeles Chargers and Lazy Dog Restaurant & Bar to deliver 1,000 meals to the night staff of Children's Hospital Los Angeles. This initiative, part of the SuburbanCares program, aims to support healthcare workers affected by COVID-19. The company has previously provided relief to frontline workers in several U.S. cities. Children's Hospital Los Angeles is the top-ranked children's hospital in California, facilitating over 600,000 patient interactions annually.