SPH News & Events

Suburban Propane announced the expansion of its partnership with NASCAR to include 21 tracks across the country, with the addition of the upcoming NASCAR event at the U.S. Naval Base in Coronado, California, and the return to Chicagoland Speedway. The addition of the San Diego event at Naval Base Coronado is part of the sport's participation in America's 250th anniversary celebrations, and represents a particularly unique milestone, bringing NASCAR racing to an iconic waterfront military installation. Meanwhile, the Chicagoland Speedway marks another key market where Suburban Propane will continue supporting operations and fan engagement.

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.