Suburban Propane Partners L P - SPH STOCK NEWS

Suburban Propane Partners (NYSE: SPH) reported fiscal 2022 net income of $139.7 million ($2.21 per unit), up from $122.8 million ($1.96 per unit) in 2021. Adjusted EBITDA increased by 5.6% to $291 million. Despite challenges like warm weather and high commodity prices, the company managed to reduce debt by over $42 million, lowering leverage to 3.60x. Retail propane sales dropped 4.4% to 401.3 million gallons, while average propane prices rose 39.1%. A fourth-quarter net loss of $54.2 million marked an increase from the previous year, though quarterly distribution remained at $0.325 per unit.

On October 31, 2022, Suburban Propane Partners, L.P. (NYSE: SPH) announced a collaboration with Joya, a non-profit in Spokane County, to enhance community programs. Suburban Propane's donation will fund car seat safety training for Joya staff, ensuring proper installation and safety checks for children. Volunteers also participated in Joya's Trunk-or-Treat event. This initiative is part of SuburbanCares, which supports community efforts nationwide.

On October 26, 2022, Suburban Propane Partners, L.P. (NYSE: SPH) announced a collaboration with Forgotten Soldiers Outreach, Inc to send 200 "We Care" packages to deployed military service members. The initiative aligns with Suburban Propane's commitment to community engagement, highlighting their dedication to supporting veterans. Each package contains essential items like toiletries, non-perishable food, and letters of encouragement. This effort is part of their SuburbanCares initiative, which aims to give back to communities nationwide.

Suburban Propane Partners, L.P. (NYSE:SPH) declared a quarterly distribution of $0.325 per Common Unit for the period ending September 24, 2022. This annualizes to $1.30 per Common Unit. The distribution is scheduled for payment on November 8, 2022, for those on record by November 1, 2022. The press release also notifies that foreign investors' distributions are subject to federal income tax withholding at the highest applicable rate. Suburban Propane serves around 1 million customers nationwide, focusing on propane and renewable energy services.

Suburban Propane Partners, L.P. (NYSE:SPH) has announced its Fiscal 2022 Full Year and Fourth Quarter Results Conference Call scheduled for November 10, 2022, at 9:00 AM Eastern Time. During the call, management will discuss the company's results and business outlook. Analysts and investors can access the call via the internet or phone. A replay of the conference call will be available from 12:00 PM on the same day until 12:00 AM on November 17, 2022 for those unable to attend.

Suburban Propane Partners, L.P. (NYSE: SPH) recently supported veterans by serving breakfast at the Veterans Place of Washington Boulevard in Pittsburgh. The event, part of SuburbanCares, aimed to assist veterans transitioning from homelessness. Volunteers also provided information on the "Heroes Hired Here" program, which offers job training for veterans. Executive Director Shannon Hagy expressed gratitude for Suburban's support, while spokesperson Nandini Sankara emphasized the company's commitment to outreach for veterans. Over the years, Suburban has participated in various charitable endeavors, helping underserved communities across the U.S.

Suburban Propane Partners, L.P. (NYSE: SPH) has collaborated with the Foundation To Be Named Later to provide tuition grants for underserved students in the Boston area. The grants were presented at Fenway Park, with notable attendees including Paul Epstein and Peter Gammons. This initiative is part of SuburbanCares, reflecting the company's commitment to community support across the U.S. Suburban Propane, a leading distributor of propane and related products, serves approximately 1 million customers nationwide.

Suburban Propane Partners, L.P. (NYSE: SPH) announced a partnership with David's House, a nonprofit aiding families of children undergoing treatment at Dartmouth Health Children's Hospital. The collaboration involves donations of food and pantry items for snack packs, helping these families during challenging times. The initiative, part of Suburban Propane's SuburbanCares program, aims to support community efforts across the U.S. Suburban Propane, providing services since 1928, caters to about 1 million customers nationwide.

Suburban Propane Partners, L.P. (NYSE:SPH) reported a third-quarter net loss of $2.5 million, an improvement from a $26 million loss in Q3 2021. Adjusted EBITDA increased by 25.3% to $29.2 million. Retail propane sales fell 1.6% to 75.5 million gallons due to high prices and changing customer demand. Gross margin increased to $159.4 million, despite higher operating costs reaching $130.6 million. The company reduced debt by over $43 million, lowering leverage to 3.64x. A quarterly distribution of $0.325 per Common Unit was announced, payable on August 9, 2022.