STOCK TITAN

Suburban Propane Partners L P - SPH STOCK NEWS

Welcome to our dedicated page for Suburban Propane Partners L P news (Ticker: SPH), a resource for investors and traders seeking the latest updates and insights on Suburban Propane Partners L P stock.

Suburban Propane Partners, L.P. (NYSE: SPH), headquartered in Whippany, New Jersey, is a leading nationwide marketer and distributor of propane, renewable propane, fuel oil, and other refined fuels. The company has been serving the energy needs of approximately 1 million residential, commercial, governmental, industrial, and agricultural customers through about 700 locations across 42 states since 1928.

Core Business: Suburban Propane specializes in providing propane, fuel oil, and refined fuels, along with marketing natural gas and electricity in deregulated markets such as New York and Pennsylvania. The company operates in three main segments: Propane, Fuel Oil and Refined Fuels, and Natural Gas and Electricity, with the Propane segment generating the maximum revenue.

Products and Services: Propane, known for its clean-burning properties, is used in residential and commercial markets for space heating, water heating, cooking, and clothes drying. Additionally, industrial customers utilize propane as a motor fuel, for powering engines, and in various process applications. In the agricultural sector, propane serves crucial functions such as tobacco curing, crop drying, and poultry brooding. Suburban Propane also sells, installs, and services heating systems, air conditioning units, and other energy-related equipment.

Environmental Commitment: As part of its commitment to a green energy future, Suburban Propane markets renewable propane and invests in low carbon fuel alternatives. The company's

Rhea-AI Summary

Suburban Propane Partners, L.P. (NYSE: SPH) announced its Fiscal 2023 Second Quarter Results Conference Call scheduled for May 4, 2023, at 9:00 AM Eastern Time. The call will cover the company's financial performance and business outlook for the quarter. Interested participants can join via the internet or by phone, with a replay available from 12:00 PM ET on May 4 until 11:55 PM ET on May 11. Suburban Propane, headquartered in Whippany, New Jersey, offers propane and renewable fuel products to approximately 1 million customers across 42 states. The company’s 95-year legacy emphasizes dependability and community engagement.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.46%
Tags
-
Rhea-AI Summary

Suburban Propane Partners, L.P. (NYSE: SPH) sponsored the Washington Capitals' Go Green Night on March 17, 2023. This initiative showcased Suburban's commitment to clean energy through the use of propane for the Capitals' ice resurfacer. The event featured green-themed activities and a charity auction of signed jerseys, benefiting local organizations. Spokesperson Nandini Sankara emphasized the partnership's role in promoting the 'Go Green with Suburban Propane' initiative, aimed at highlighting the benefits of renewable propane. Suburban Propane continues to serve approximately 1 million customers across 42 states through its dedication to renewable energy solutions.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.13%
Tags
none
-
Rhea-AI Summary

On March 9, 2023, Suburban Propane Partners, L.P. (NYSE: SPH) teamed up with the American Red Cross to organize a blood drive in Boston, aiming to raise awareness and encourage donations for patients with sickle cell disease. Former Boston Police Commissioner Willie Gross supported the initiative, highlighting its significance in educating the community. Donors received first aid kits and entered for a chance to win Celtics tickets. This event is part of SuburbanCares, the company's initiative focused on community support nationwide, including charitable efforts in underserved areas.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.39%
Tags
partnership conferences
Rhea-AI Summary

On March 2, 2023, Suburban Propane Partners, L.P. (NYSE: SPH) announced its sponsorship of the 2023 Congressional Hockey Challenge, a charity event supported by the NHL. This initiative aligns with the company’s 'Go Green with Suburban Propane' brand, promoting clean-burning propane as a part of the transition to renewable energy. Suburban Propane provided power for the ice resurfacer at the event, reinforcing its commitment to community support and the energy transition. The partnership reflects Suburban's dedication to clean energy solutions and marks its ongoing involvement in charitable activities that benefit local communities.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.07%
Tags
none
-
Rhea-AI Summary

Suburban Propane Partners, L.P. (NYSE: SPH) reported a strong first quarter of fiscal 2023, with net income rising to $45.4 million ($0.71 per Common Unit), up from $21.3 million ($0.34 per Common Unit) in the prior year. Adjusted EBITDA increased by 4.1% to $90.0 million. The company attributed growth to customer retention, cooler temperatures, and effective cost management. A key highlight was the acquisition of two RNG production facilities for $190 million, enhancing their renewable energy portfolio. Retail propane sales increased by 3.3% to 108.8 million gallons. However, average propane prices fell by 35.9% year-over-year.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.95%
Tags
-
Rhea-AI Summary

On January 24, 2023, Suburban Propane Partners (NYSE: SPH) donated to the Key West Harry S. Truman Foundation to support the preservation of the Harry S. Truman Little White House in Florida. The donation aims to enhance civic engagement and educational programming related to the Truman era. Key West Mayor Teri Johnston emphasized the importance of such contributions to historical venues. Suburban Propane's initiative, SuburbanCares, focuses on community support and charitable endeavors across the U.S., highlighting their commitment to preserving national treasures for future generations.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.56%
Tags
none
Rhea-AI Summary

Suburban Propane Partners, L.P. (NYSE:SPH) announced a quarterly distribution of $0.325 per Common Unit for the three months ending December 24, 2022, equating to an annualized rate of $1.30. The distribution will be payable on February 7, 2023 to Common Unitholders of record as of January 31, 2023. This press release also provides important tax information for foreign investors, indicating that all distributions are subject to federal income tax withholding at the highest rate due to their connection with U.S. trade or business.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.08%
Tags
none
-
Rhea-AI Summary

Suburban Propane Partners, L.P. (NYSE:SPH) will host its Fiscal 2023 First Quarter Results Conference Call on February 2, 2023, at 9:00 AM ET. Interested parties can join via telephone or online at www.suburbanpropane.com. The call will discuss the company's quarterly results and business outlook. A replay will be available from 12:00 PM ET on February 2 until 11:55 PM ET on February 9, accessible by phone or on the website. Suburban Propane, with a history since 1928, serves around 1 million customers across 700 locations in 42 states, focusing on propane and renewable energy solutions.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.08%
Tags
-
Rhea-AI Summary

Suburban Propane Partners, L.P. (NYSE: SPH) announced the acquisition of renewable natural gas (RNG) assets from Equilibrium Capital Group for $190 million. This acquisition includes two operational biogas facilities, enhancing Suburban’s renewable energy portfolio. The partnership aims to develop additional RNG projects. The deal will be funded through a mix of credit facility borrowings and green bonds. This strategic move is expected to boost Suburban’s cash flow in fiscal 2024 and positions the company for growth in the low carbon energy sector.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.84%
Tags
partnership acquisition
Rhea-AI Summary

Suburban Propane Partners, L.P. (NYSE: SPH) has been recognized as a finalist in three categories of the 2022 Platts Global Energy Awards, celebrating innovation and leadership in the energy sector. This includes the Corporate Impact Award for its SuburbanCares platform, the LNG Energy Transition Award for its commitment to low carbon alternatives, and Chief Executive of the Year for CEO Michael Stivala. The awards will be presented on December 8 at Cipriani Wall Street, highlighting the company’s dedication to community support and sustainable energy solutions.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.83%
Tags
none

FAQ

What is the current stock price of Suburban Propane Partners L P (SPH)?

The current stock price of Suburban Propane Partners L P (SPH) is $17.34 as of December 20, 2024.

What is the market cap of Suburban Propane Partners L P (SPH)?

The market cap of Suburban Propane Partners L P (SPH) is approximately 1.1B.

What products and services does Suburban Propane Partners, L.P. provide?

Suburban Propane distributes propane, renewable propane, fuel oil, and other refined fuels, and markets natural gas and electricity. They also sell, install, and service heating systems, air conditioning units, and other energy-related equipment.

Where is Suburban Propane Partners, L.P. headquartered?

Suburban Propane is headquartered in Whippany, New Jersey.

How many customers does Suburban Propane serve?

Suburban Propane serves approximately 1 million residential, commercial, governmental, industrial, and agricultural customers.

What is the primary revenue-generating segment for Suburban Propane?

The primary revenue-generating segment for Suburban Propane is the Propane segment.

What are the environmental initiatives of Suburban Propane?

Suburban Propane promotes the clean-burning properties of propane and renewable propane, and invests in low carbon fuel alternatives as part of their Go Green initiative.

What recent developments have been announced by Suburban Propane?

Recent developments include the retirement of COO Steven C. Boyd and the succession plan naming Alejandro (“Alex”) Centeno as the new COO, as well as advancements in their Renewable Natural Gas (RNG) projects.

What community initiatives is Suburban Propane involved in?

Through the SuburbanCares corporate pillar, Suburban Propane engages in various community support activities, including partnerships with the American Red Cross for blood donation drives.

When was Suburban Propane Partners, L.P. established?

Suburban Propane has been in the customer service business since 1928.

How does Suburban Propane support agricultural customers?

Suburban Propane provides propane for functions such as tobacco curing, crop drying, poultry brooding, and weed control in the agricultural sector.

Where can I find more information about Suburban Propane?

For more information, visit their official website at www.suburbanpropane.com.

Suburban Propane Partners L P

NYSE:SPH

SPH Rankings

SPH Stock Data

1.14B
58.67M
2.26%
36.59%
1.28%
Utilities - Regulated Gas
Retail-miscellaneous Retail
Link
United States of America
WIPPANY