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Suburban Propane Partners LP SPH

Rating as of

Morningstar’s Analysis

Valuation
Currency in USD
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1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

Suburban Propane Partners' Fiscal-Year Earnings Aided by Higher Volumes and Margins

Andrew Bischof, CFA, CPA Senior Equity Analyst

Analyst Note

| Andrew Bischof, CFA, CPA |

We are maintaining our $14.50 per share fair value estimate for Suburban Propane Partners after the partnership reported its propane, refined fuels, and energy marketing businesses generated $275.7 million in adjusted EBITDA for fiscal 2021, up from $253.7 million in fiscal 2020. Net income for fiscal 2021 was $122.8 million, compared with $60.8 million in fiscal 2020. We are reaffirming our no-moat and negative moat trend ratings.

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Company Profile

Business Description

Suburban Propane Partners distributes propane, fuel oil, and other refined fuels to customers primarily in the East Coast and West Coast regions of the United States. Other operations include natural gas and electricity marketing in the deregulated New York and Pennsylvania markets.

Contact
240 Route 10 West, P.O. Box 206
Whippany, NJ, 07981
T +1 973 887-5300
Sector Utilities
Industry Utilities - Regulated Gas
Most Recent Earnings Sep 30, 2021
Fiscal Year End Sep 25, 2022
Stock Type Slow Growth
Employees 3,226

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