Suburban Propane: Be Wary Of This Melting Ice Cube
Suburban Propane is rated 'Sell' due to secular decline and excess debt, despite recent outperformance and a secure 6.6% dividend yield. SPH's Q2 EBITDA was flat at $175 million, with strong H1 results driven by an unusually cold winter in the Northeast. Leverage remains elevated at 4.3x, with management prioritizing debt reduction over distribution growth for the next 18-24 months.
Suburban Propane Partners, L.P. Common Units (SPH) Q2 2026 Earnings Call Transcript
Suburban Propane Partners, L.P. Common Units (SPH) Q2 2026 Earnings Call Transcript
Suburban Propane: 2025 Growth Is Likely An Aberration
Suburban Propane remains a 'sell' due to challenged long-term growth, high debt, and reliance on volatile weather-driven demand. SPH's recent EBITDA growth was driven by an unusually cold winter, but secular declines in propane demand and rising operating costs persist. Leverage remains elevated at 4.3x, and ongoing equity issuance signals management's lack of confidence in SPH's valuation and need for debt reduction.
Suburban Propane Partners, L.P. Common Units (SPH) Q4 2025 Earnings Call Prepared Remarks Transcript
Suburban Propane Partners, L.P. Common Units ( SPH ) Q4 2025 Earnings Call November 13, 2025 9:00 AM EST Company Participants A.
Suburban Propane Partners, L.P. Common Units (SPH) Q3 2025 Earnings Call Transcript
Suburban Propane Partners, L.P. Common Units (NYSE:SPH ) Q3 2025 Earnings Conference Call August 7, 2025 9:00 AM ET Company Participants A.
Suburban Propane Partners, L.P. Common Units (SPH) Q2 2025 Earnings Call Transcript
Suburban Propane Partners, L.P. Common Units (NYSE:SPH ) Q2 2025 Earnings Conference Call May 8, 2025 9:00 AM ET Company Participants Davin D'Ambrosio - VP and Treasurer Mike Stivala - President and CEO Mike Kuglin - CFO Conference Call Participants Christopher Jeffrey - Mizuho Securities Operator Good morning, ladies and gentlemen, and welcome to the Suburban Propane Partners Second Quarter Earnings Conference Call.
Suburban Propane Partners, L.P. Common Units (SPH) Q1 2025 Earnings Call Transcript
Suburban Propane Partners, L.P. Common Units (NYSE:SPH ) Q1 2025 Earnings Conference Call February 6, 2025 9:00 AM ET Company Participants Davin D'Ambrosio - Vice President & Treasurer Mike Stivala - President & Chief Executive Officer Mike Kuglin - Chief Financial Officer Conference Call Participants Christopher Jeffrey - Mizuho Securities Operator Good morning, ladies and gentlemen, and welcome to the Suburban Propane Partners First Quarter Earnings Conference Call.
Suburban Propane Partners, L.P. Common Units (SPH) Q4 2024 Earnings Call Transcript
Suburban Propane Partners, L.P. Common Units (NYSE:SPH ) Q4 2024 Results Conference Call November 14, 2024 9:00 AM ET Company Participants Davin D'Ambrosio - VP and Treasurer Mike Stivala - President and Chief Executive Officer Mike Kuglin - Chief Financial Officer Steve Boyd - Chief Operating Officer Alex Centeno - Senior Vice President of Operations Conference Call Participants Gabe Moreen - Mizuho Operator Good morning, ladies and gentlemen, and welcome to the Suburban Propane Partners Fourth Quarter and Fiscal Year-End Earnings Conference Call.
Suburban Propane: Attractive Distribution With Manageable Debt
Suburban Propane is a partnership that specializes in the distribution of propane to fuel the heating needs of homes and businesses. Cash flows and revenues have a stable track record, suggesting solid coverage of the distribution. Leverage is pretty high yet well managed, with maturity not until 2027.
