SPH News & Events

Reports Q1 revenue $370.4M vs. $373.3M last year. CEO Michael Stivala said, "The FY26 heating season is off to a solid start, driven by cooler average temperatures in the Northeast, Mid-Atlantic and Midwest regions of our operating footprint, along with continued positive trends in our customer base growth and retention initiatives, which together enabled us to deliver a 4.2% increase in volumes sold compared to the prior year first quarter. The strong volumes, combined with effective selling price and expense management, contributed to an increase of nearly 11.0% in Adjusted EBITDA for the quarter. ..During the quarter, we also advanced our long-term strategic growth plans with the acquisition of two well-run propane businesses in California, progressing our capital projects to grow RNG production, and strategically refinancing our 2027 senior notes at an attractive rate and long-dated tenor. We continue to focus on disciplined investments in growth, while maintaining balance sheet strength and flexibility."

Wells Fargo Securities, J.P. Morgan Securities, BofA Securities, and Evercore Group are acting as sales agents.

Suburban Propane has entered into a multi-year partnership with NASCAR and sports entertainment and facility operator Speedway Motorsports, making Suburban Propane the Official Propane of NASCAR and Speedway Motorsports. As the Official Propane of NASCAR, Suburban Propane will provide the propane for the new, propane-powered track dryers that NASCAR will add to its fleet starting this season. As part of the partnership, Suburban Propane will provide on-site services for campers at each track property during NASCAR event weekends, and propane for in-stadium concessions. The Suburban Propane-branded and powered track dryers will debut in February 2025, servicing NASCAR races across the country.