Welcome to our dedicated page for Suburban Propane Partners news (Ticker: SPH), a resource for investors and traders seeking the latest updates and insights on Suburban Propane Partners stock.
Introduction
Suburban Propane Partners LP (SPH) is a well-established, nationwide distributor of crucial energy products and services. With a comprehensive portfolio that includes propane, fuel oil, refined fuels, renewable propane, and renewable natural gas, as well as participation in natural gas and electricity marketing within deregulated markets, the company caters to a wide audience that includes residential, commercial, industrial, governmental, and agricultural customers. In an industry defined by weather variability and market fluctuations, SPH consistently offers reliable energy solutions using products that are valued for their safety, cleanliness, and versatility.
Core Business Segments
Propane Distribution: The propane segment stands as the cornerstone of SPH’s revenue generation. Propane is widely used for space heating, water heating, and cooking in residential markets, while also serving industrial applications such as motor fuel for forklifts and process applications in heating and cutting. Its clean-burning attributes make it a sustainable and environmentally friendlier energy source.
Fuel Oil and Refined Fuels: In addition to propane, the company distributes fuel oil and other refined fuels, providing essential heating solutions and complementary energy services. This diversification helps secure the company’s market position against seasonal and regional demand variances.
Natural Gas and Electricity: Operating in deregulated market areas, the firm extends its footprint into natural gas and electricity marketing. This segment combines flexibility and responsiveness in an evolving energy market and serves customers who benefit from competitive pricing in deregulated environments.
Market Position and Operational Significance
SPH’s operations span over a vast network of locations, which ensures broad accessibility and rapid service delivery. The company’s ability to source, distribute, and market a diverse array of energy products positions it uniquely against competitors. By leveraging strategic acquisitions and natural market advantages, the company sustains a robust presence in regions spanning the East and West Coasts of the United States. Its operational model is built on ensuring dependable access to vital energy products, regardless of seasonal fluctuations or regional challenges.
Applications and Industry Impact
In the residential sector, propane is an essential component in home heating systems, water heating, and cooking appliances. For commercial operations, it supports a broad range of functions including industrial heating, power generation for over-the-road vehicles, and equipment powering. In the industrial sphere, propane is frequently utilized as a motor fuel and as a critical component in various manufacturing applications. Moreover, the agricultural sector benefits from propane in applications like crop drying and pest control, proving the versatility and widespread adoption of SPH’s product offerings.
Commitment to Community and Quality Service
Beyond its core distribution operations, SPH demonstrates a long-term commitment to its communities through initiatives that support local engagements and humanitarian efforts. The company’s longstanding history, dating back nearly a century, is underpinned by a continuous commitment to the highest standards of service reliability, operational safety, and customer care.
Technological Integration and Renewable Energy Initiatives
While maintaining traditional energy distribution practices, the company has progressively integrated modern, energy-efficient technologies into its operations. Investments in renewable natural gas (RNG) production are a testament to its adaptive approach, meeting the evolving demand for low-carbon fuel alternatives. This not only broadens its product lineup but also reinforces its reputation in the context of a green energy transition, showcasing a blend of traditional energy distribution with forward-thinking renewable energy strategies.
Competitive Landscape and Differentiation
Operating in a competitive market, SPH distinguishes itself through a combination of scale, diversified product offerings, and a decade-spanning legacy of customer trust. Its strategic acquisitions and consistent operational strategy reduce typical market vulnerabilities associated with seasonal demand and regulatory challenges. By focusing on operational excellence and long-standing customer relationships, SPH offers an exemplary model of a company that thrives in both regulated and deregulated markets.
Conclusion
Suburban Propane Partners LP remains a significant player in the energy distribution landscape, effectively serving a vast array of markets with products that are essential for daily life and industrial functionality. Its unwavering commitment to customer service, operational reliability, and strategic innovation in both traditional and renewable energy spheres makes the company a respected entity in its industry, backed by decades of experience and deep industry expertise.
Suburban Propane Partners (NYSE:SPH) has declared a quarterly distribution of $0.325 per Common Unit for the period ended September 28, 2024, equivalent to an annualized rate of $1.30 per Common Unit. The distribution will be paid on November 12, 2024, to unitholders of record as of November 5, 2024. The company operates as a nationwide distributor of propane and related products, serving approximately 1 million customers across 42 states through 700 locations. 100% of distributions to foreign investors are subject to federal income tax withholding at the highest applicable effective tax rate.
Suburban Propane Partners (NYSE:SPH) has scheduled its Fiscal 2024 Full Year and Fourth Quarter Results Conference Call for Thursday, November 14, 2024, at 9:00 AM Eastern Time. The company will discuss its financial results and business outlook. A replay will be available from 12:00 PM Eastern Time on November 14 until November 21, 2024. The company serves approximately 1 million customers through 700 locations across 42 states, distributing propane, renewable propane, fuel oil, and related products and services.
Suburban Propane Partners, L.P. (NYSE: SPH) has collaborated with Rutland Community Cupboard in Vermont to support local families facing food insecurity. The company volunteered to stock shelves with food and pantry items, and donated funds to purchase 2,778 fresh half gallons of milk for families in need.
Rutland Community Cupboard, which was visited 10,204 times by those in need last year, expressed gratitude for the partnership. Suburban Propane's spokesperson, Nandini Sankara, emphasized the company's support for the cupboard's mission to provide nutritious meals to those facing food insecurity.
This initiative is part of SuburbanCares' broader commitment to supporting communities across the United States. The company has undertaken similar charitable efforts in numerous locations, including New Hampshire, Arizona, Ohio, California, Alabama, New York, Florida, Washington, Massachusetts, Montana, North Carolina, Delaware, Pennsylvania, New Mexico, South Carolina, New Jersey, and Texas.
Suburban Propane Partners, L.P. (NYSE: SPH) recently collaborated with the Nevada Outreach Training Organization (NOTO) in Pahrump to assist with organizing donations. Volunteers from Suburban Propane helped break down damaged furniture, sort clothing, and organize housewares for distribution to those in need. This effort contributed to NOTO's grant match requirements.
Jessica McCutcheon, Executive Director of NOTO, expressed gratitude for Suburban Propane's support. The collaboration aligns with SuburbanCares' commitment to community efforts across the United States. Suburban Propane, headquartered in Whippany, New Jersey, is a nationwide distributor of propane and related products, serving approximately 1 million customers through 700 locations across 42 states.
Suburban Propane Partners, L.P. (NYSE: SPH) has joined forces with Warren County Habitat for Humanity as a Framer Sponsor, volunteering at a new construction site. The company's employees actively supported the local build site, with Assemblyman John DiMaio (NJ District 23) also in attendance. This initiative is part of SuburbanCares' commitment to supporting community efforts across the United States.
Brittany Powelson, Volunteer Services and Public Relations Manager at Warren County Habitat for Humanity, expressed gratitude for Suburban Propane's support, both through their donation and on-site assistance. Nandini Sankara, Spokesperson for Suburban Propane, emphasized that this volunteering effort represents more than giving back; it's an opportunity to foster hope and enhance lives within the community.
Suburban Propane, headquartered in Whippany, New Jersey, is a nationwide distributor of propane, renewable propane, renewable natural gas, and related products and services. The company serves approximately 1 million customers through 700 locations across 42 states.
Suburban Propane Partners, L.P. (NYSE: SPH) collaborated with Sharing House in Brevard, North Carolina on September 5th, 2024. Volunteers from Suburban Propane helped sort and organize donations, clean storage areas, and perform light landscaping. The company also made a financial contribution to Sharing House's emergency heating assistance program, which supports nearly 1,000 low-income households each winter.
This initiative is part of SuburbanCares, the company's community outreach program, which has undertaken charitable efforts in numerous communities across the United States. Sharing House, a faith-based cooperative organization, has been serving Transylvania County for over 42 years, providing essential services to under-resourced residents in a region where 45% struggle with unaffordable rent and 35% are considered low-income.
Suburban Renewable Energy, , a subsidiary of Suburban Propane Partners, L.P. (NYSE: SPH), has announced its sponsorship of the Horizon Hydrogen Grand Prix (H2GP) in Anaheim, California from September 9-12, 2024. The event, held during the RE+ tradeshow, showcases students aged 13-17 racing 1:10 scale hydrogen fuel cell model cars they've designed and built. Suburban Renewables will also participate in the 'Corporate Race', defending its 2023 fastest lap title.
The sponsorship aligns with Suburban Propane's commitment to investing in the hydrogen industry's future and advancing renewable energy education. The company will host a booth at the event, showcasing its renewable energy initiatives. The H2GP also marks the launch of the H2GP Foundation, a non-profit supporting hydrogen technology education and research.
Suburban Propane Partners (NYSE: SPH) reported a net loss of $17.2 million, or $0.27 per Common Unit, for Q3 fiscal 2024, compared to a net loss of $5.3 million in Q3 fiscal 2023. Adjusted EBITDA decreased to $27.0 million from $33.0 million year-over-year. The company faced challenges due to unseasonably warm temperatures, resulting in an 8.6% decrease in retail propane gallons sold. Despite this, SPH completed two propane acquisitions in Nevada and Florida, investing over $12.0 million, while reducing debt by $10.5 million. The company's RNG operations saw operational improvements, increasing feedstocks processed and daily RNG injection at the Stanfield facility. SPH maintained its quarterly distribution of $0.325 per Common Unit.
Suburban Propane Partners (NYSE:SPH) has declared a quarterly distribution of $0.325 per Common Unit for the three months ended June 29, 2024. This equates to an annualized rate of $1.30 per Common Unit. The distribution is payable on August 13, 2024 to Common Unitholders of record as of August 6, 2024.
Suburban Propane is a publicly traded master partnership listed on the NYSE. It's a nationwide distributor of propane, renewable propane, renewable natural gas, and related products, serving approximately 1 million customers through 700 locations across 42 states. The company focuses on customer service, community involvement, and promoting propane as a clean energy source.
Suburban Propane Partners (NYSE:SPH) has scheduled its Fiscal 2024 Third Quarter Results Conference Call for Thursday, August 8, 2024, at 9:00 AM Eastern Time. Interested parties can access the call via the company's website or by phone. A replay will be available until August 15, 2024.
Suburban Propane, headquartered in Whippany, New Jersey, is a nationwide distributor of propane, renewable energy, and related products and services. The company serves approximately 1 million customers across 42 states through 700 locations. Suburban Propane focuses on customer service, community involvement, and promoting propane as a clean energy solution.
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