SRLP - SRLP STOCK NEWS

Sprague Resources LP has filed its Annual Report on Form 10-K for the fiscal year ended December 31, 2021, with the Securities and Exchange Commission. This report can be accessed via the Investor Relations section on their website. Unitholders can request a complete copy of the audited financial statements for free by calling 1.800.225.1560 or through the website. Sprague is engaged in the purchase, storage, distribution, and sale of refined petroleum products and natural gas, along with storage services for various materials.

Sprague Resources LP (NYSE: SRLP) reported strong financial results for Q4 2021, with net sales of $1,138.9 million compared to $627.4 million in Q4 2020. GAAP net income surged to $43.7 million versus $2.5 million the prior year. However, for the full year 2021, the company faced a GAAP net loss of $68.9 million, a substantial decline from a $33.8 million net income in 2020. Adjusted EBITDA reached $110.7 million, down from $116.7 million in 2020. The company anticipates adjusted EBITDA for 2022 to be between $105 million and $120 million.

Sprague Resources LP has declared a cash distribution of $0.4338 per unit for Q4 2021, maintaining the same amount as the previous quarter. This equates to an annualized rate of $1.73 per unit. The distribution is scheduled for payment on February 9, 2022, to unitholders recorded by the close of business on February 4, 2022. Additionally, Sprague will release its audited financial results for both Q4 and the full year 2021 on March 3, 2022, followed by a conference call to discuss the results.

Sprague Resources LP (SRLP) announced an unsolicited non-binding proposal from Hartree Partners to acquire all outstanding common units not owned by Hartree for $16.50 each. This price reflects a 10.6% premium over the closing price on January 10, 2022, and a 22.5% premium to its 30-day weighted average price. Hartree owns approximately 74.5% of Sprague's outstanding common units. The Sprague board will review the proposal through its conflicts committee, which will engage advisors to evaluate the offer. The proposal is subject to negotiation and regulatory approvals.

Sprague Resources LP (NYSE: SRLP) announced its Q3 2021 financial results, reporting net sales of $665.5 million, up from $390.5 million in Q3 2020. However, the company recorded a GAAP net loss of $115.8 million, a decline from a net income of $9.7 million a year earlier. Adjusted gross margin rose slightly to $57.9 million, while adjusted EBITDA fell to $18.4 million, down from $20.2 million. The Board declared a cash distribution of $0.4338 per unit, a 35% decrease from the previous quarter, aimed at reinforcing financial sustainability. Adjusted EBITDA guidance for 2021 is projected between $105 million and $120 million.

Sprague Resources LP has declared a cash distribution of $0.4338 per unit for the quarter ending September 30, 2021, amounting to $1.73 annualized, representing a 35% reduction from the previous quarter's distribution of $0.6675 per unit. This reduction aims to generate approximately $25 million in annual cash flow for growth investments and enhance its distribution coverage ratio. The distribution will be paid on November 10, 2021, with a record date of November 5, 2021.

Sprague Resources LP (NYSE: SRLP) reported a net sales increase to $657.7 million in Q2 2021, compared to $358.2 million a year earlier. However, the company faced a GAAP net loss of $45.6 million, worsening from a $25.1 million loss in Q2 2020. Adjusted gross margin decreased by 49% to $38.8 million, with EBITDA falling to $3.0 million. Despite a 10% increase in refined products volumes, margins declined significantly. Cash distribution remained stable at $0.6675 per unit, but a reduction is anticipated for Q3 2021 to fund growth opportunities.

Sprague Resources LP (NYSE: SRLP) announces a cash distribution of $0.6675 per unit for Q2 2021, maintaining its 2020 distribution level. The distribution will be paid on August 9, 2021 to unitholders of record as of August 3, 2021, equivalent to $2.67 per unit annually. Additionally, unaudited financial results for the second quarter will be released on August 5, 2021, followed by a conference call to discuss the results.

On May 28, 2021, Sprague Resources LP (SRLP) announced the closure of a transaction with Hartree Partners, LP, wherein Hartree has acquired the general partner interest, incentive distribution rights, and 16,058,484 common units previously held by Axel Johnson Inc. (totaling $290 million). The deal includes approximately $265 million for the common units and $25 million for the partner interest and distribution rights. This acquisition positions Hartree as a significant stakeholder in Sprague, enhancing its strategic position in the commodity market.