secwatch.observer — SEC 8-K summary
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Issuer:     SUBURBAN PROPANE PARTNERS LP (SPH)
CIK:        0001005210
Form:       8-K
Filed at:   2023-02-02T23:59:59+00:00
Accession:  0000950170-23-001641
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Suburban Propane Q1 net income doubles to $45.4M; acquires RNG facilities for $190M
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- Net income $45.4M ($0.71/unit) vs $21.3M ($0.34) prior year; Adj. EBITDA $90.0M, up 4.1%.
- Retail propane gallons sold 108.8M, up 3.3% YoY; unit margins increased $0.06/gal excluding mark-to-market.
- Acquired two operating RNG facilities from Equilibrium for $190M, funded with revolver and assumption of green bonds.
- Formed partnership with Equilibrium to develop additional RNG projects, with $155M in future projects; Suburban owns ~70%.
- Quarterly distribution declared $0.325/unit, payable Feb 7, 2023, unchanged from prior quarter.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1005210/000095017023001641/0000950170-23-001641-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1005210/000095017023001641/sph-20230202.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-001641

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer