Suburban Propane Partners LP executive sells $41,000 in stock

Brinkworth Douglas, the Senior Vice President of Product Supply, Purchasing, and Logistics at Suburban Propane Partners LP (NYSE:SPH), a company with a market capitalization of $1.3 billion and a FAIR financial health rating according to InvestingPro, recently sold a portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Douglas sold 2,000 common units of Suburban Propane at a price of $20.50 per unit, totaling $41,000. Following the transaction, Douglas holds 159,355 units in the company. The stock, which currently trades above its Fair Value estimate, offers a notable 6.47% dividend yield and has maintained dividend payments for 30 consecutive years. For deeper insights into insider transactions and additional ProTips, investors can access the comprehensive Pro Research Report available on InvestingPro.

In other recent news, Suburban Propane Partners LP announced its financial results for the first quarter of fiscal 2025, reporting earnings per share (EPS) of $0.30, which fell short of the anticipated $0.65. Despite this earnings miss, the company’s revenue exceeded expectations, reaching $373.3 million compared to the forecasted $359.79 million. The company attributed some of its challenges to unseasonably warm weather, which led to a slight decrease in propane sales. Retail propane gallons sold decreased by 0.8% year-over-year, but strategic investments in renewable energy and acquisitions helped offset some of these challenges. Suburban Propane plans to continue its capital spending on propane operations and renewable natural gas (RNG) projects, with projected expenditures of $40-45 million and $35-45 million respectively. CEO Mike Stivala reiterated the company’s commitment to advancing clean propane solutions and supporting decarbonization efforts. The firm also highlighted its strategic investments in renewable energy as a means to navigate market challenges. Despite the earnings miss, the company’s adjusted EBITDA remained stable at $75.3 million, demonstrating resilience against broader market pressures.

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