STEEL PARTNERS HOLDINGS L.P. - SPLP STOCK NEWS

Steel Partners Holdings (NYSE: SPLP) has announced a regular quarterly cash distribution of $.375 per unit on its 6% Series A Preferred Units. The distribution will be payable on December 15, 2024, to unitholders of record as of December 1, 2024. Future distributions will remain at the board's discretion, considering factors such as operations results, cash flows, financial position, and capital requirements.

The Superior Court of New Jersey has dismissed an age discrimination lawsuit against Steel Partners Holdings L.P. (NYSE: SPLP) filed by former assistant general counsel Michael MacManus. The dismissal came after a court hearing on August 29, 2024, regarding the Company's motion for summary judgment. MacManus, who resigned in 2020, had filed the lawsuit in 2021. Steel Partners, a diversified global holding company, operates in various industries including industrial products, energy, defense, supply chain management, banking, and youth sports.

Steel Partners Holdings L.P. (NYSE: SPLP) reported strong financial results for Q2 2024. Revenue increased 6.4% to $533.2 million, while net income surged 113.2% to $124.9 million. The company's performance was driven by improved results in its Diversified Industrial, Financial Services, and Supply Chain segments. Key highlights include:

- Net income attributable to common unitholders: $116.3 million ($4.85 per diluted unit)
- Adjusted EBITDA: $83.8 million (15.7% margin)
- Net cash provided by operating activities: $69.0 million
- Total debt reduced to $78.7 million
- Net cash position of $53.7 million

The company also recorded a $71.5 million non-cash tax benefit due to the release of a portion of Steel Connect's valuation allowance for deferred tax assets. Steel Partners continues to focus on capital allocation, generating free cash flow, and reducing debt.

WebBank, a subsidiary of Steel Partners Holdings (NYSE: SPLP), has been named one of the 2024 Best Places to Work in Financial Technology. This marks the second year in a row that WebBank has earned this recognition, ranking ninth among forty companies. The awards, managed by Arizent and Best Companies Group, highlight excellence in workplace culture in the fintech industry. WebBank's leadership attributes this achievement to their focus on innovation and an empowering work environment. Despite challenges in the fintech sector, the recognition underscores WebBank's commitment to creating jobs and fostering a positive workplace. The 2024 list was published on May 6, 2024.

Steel Partners Holdings reported strong first-quarter financial results with revenue of $476.3 million, up by 7.0% YoY, and net income of $34.8 million, a 40.3% increase. Adjusted EBITDA was $58.6 million with a margin of 12.3%. The company focused on managing inflation and reducing expenses, especially in SG&A. Revenue growth was driven by the Supply Chain and Financial Services segments, offset by declines in Energy and Diversified Industrial segments.

Steel Partners Holdings L.P. declared a regular quarterly cash distribution of $.375 per unit on its 6% Series A Preferred Units, payable on June 15, 2024. The distribution is subject to the discretion of the board of directors based on various factors.

Steel Partners Holdings L.P. (SPLP) releases its annual letter from Executive Chairman Warren Lichtenstein, discussing the Company's 2023 financial results, highlights from its holdings, and future strategy.

Steel Partners Holdings L.P. (SPLP) reported fourth quarter and full-year 2023 results with revenue totaling $466.9 million and $1.9 billion, respectively. Net income for the quarter was $42.7 million, and $154.0 million for the year. Adjusted EBITDA was $59.4 million for the quarter and $240.6 million for the year. The company's net cash provided by operating activities was $9.5 million for the quarter and $21.2 million for the year. Total debt stood at $191.4 million, with net cash totaling $56.4 million.

Steel Sports releases a report showcasing the success of their Steel Sports Coaching System: The Lasorda Way, with a focus on character growth and athletic development. The system's four Core Values of Teamwork, Respect, Integrity, and Commitment have led to a 100% graduation rate for high school senior athletes, with 89% continuing to college and 52% playing college sports. Steel athletes exhibit positive traits like grit and growth mindset, with over 80% showing appropriate reactions to failures and a focus on effort over outcomes.