Suburban Propane Partners (NYSE:SPH – Get Free Report) released its earnings results on Thursday. The energy company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.11), FiscalAI reports. The firm had revenue of $261.38 million during the quarter, compared to analyst estimates of $255.00 million. Suburban Propane Partners had a net margin of 9.37% and a return on equity of 18.97%.
Here are the key takeaways from Suburban Propane Partners’ conference call:
- Third-quarter results weakened year over year: Adjusted EBITDA fell to $18 million from $27 million, while the adjusted net loss widened to $17.7 million, or $0.27 per common unit, from $10.8 million, or $0.17 per unit.
- Retail propane volumes declined 1.8% to 70.6 million gallons, primarily because April temperatures were unusually warm; total gross margin decreased 2.4% and operating and G&A expenses rose 3.8%.
- RNG growth initiatives are nearing completion: The Upstate New York anaerobic digester is now online, the Columbus, Ohio facility is expected to begin pipeline-quality RNG injections in the fourth quarter, and annual injection is projected to reach 750,000–800,000 MMBtus in fiscal 2027.
- Management cited improving environmental credit prices and regulatory support as potential RNG tailwinds, while the partnership reduced revolver borrowings by $36.2 million during the quarter and maintained strong trailing-12-month distribution coverage of 2.07 times.
Suburban Propane Partners Stock Up 0.1%
Shares of NYSE SPH traded up $0.02 during trading on Friday, hitting $17.76. 151,505 shares of the company traded hands, compared to its average volume of 159,967. The business’s fifty day moving average is $18.10 and its 200 day moving average is $19.32. Suburban Propane Partners has a fifty-two week low of $16.53 and a fifty-two week high of $20.80. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of 9.06 and a beta of 0.40. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.82 and a current ratio of 1.08.
Suburban Propane Partners Announces Dividend
Institutional Trading of Suburban Propane Partners
Several large investors have recently made changes to their positions in SPH. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Suburban Propane Partners by 4.8% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,177,601 shares of the energy company’s stock worth $77,912,000 after acquiring an additional 192,154 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Suburban Propane Partners by 11.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,370,534 shares of the energy company’s stock valued at $28,795,000 after acquiring an additional 142,547 shares in the last quarter. Jane Street Group LLC bought a new position in Suburban Propane Partners in the 2nd quarter valued at about $2,278,000. JPMorgan Chase & Co. boosted its stake in Suburban Propane Partners by 4.9% during the 4th quarter. JPMorgan Chase & Co. now owns 1,314,268 shares of the energy company’s stock valued at $24,367,000 after purchasing an additional 61,818 shares during the last quarter. Finally, Advocate Investing Services LLC acquired a new position in Suburban Propane Partners during the 4th quarter valued at about $861,000. 30.94% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of analysts have weighed in on SPH shares. Weiss Ratings downgraded Suburban Propane Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday. Zacks Research upgraded Suburban Propane Partners from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 10th. Finally, Wall Street Zen downgraded Suburban Propane Partners from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Two research analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Suburban Propane Partners currently has an average rating of “Buy”.
View Our Latest Analysis on Suburban Propane Partners
Suburban Propane Partners Company Profile
Suburban Propane Partners L.P. (NYSE: SPH) is a publicly traded master limited partnership headquartered in Whippany, New Jersey, that provides propane and related energy services to residential, commercial, industrial and agricultural customers. As one of the largest propane retailers in the United States, the company delivers propane gas, heating oil, diesel fuel and natural gas throughout its service territories. In addition to fuel distribution, Suburban Propane offers HVAC installation, maintenance and repair services, as well as safety inspections and equipment leasing to support customers’ energy needs.
The company’s core business centers on the delivery of propane for space and water heating, cooking and agricultural applications.
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