Suburban Propane
Supplies propane, fuel oil and refined fuels through a nationwide local-service network.
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Profile
Distributes propane, fuel oil and refined fuels to residential, commercial, industrial and agricultural customers across the United States. The NYSE-listed master limited partnership also markets natural gas and electricity while developing renewable-energy investments.
Runs a local-service distribution network centered on propane, with fuel oil, refined fuels, natural-gas marketing and electricity marketing extending its energy offering. Residential, commercial, industrial and agricultural customers receive these products through locations across the United States.
Formed from a New Jersey propane business and organized as an NYSE-listed master limited partnership, the business expanded nationally through acquisitions. Propane and fuel-oil demand are mature and expected to be flat to moderately declining, while renewable energy is a separate growth area. Renewable activity includes interests in Oberon Fuels and Independence Hydrogen, plus renewable-natural-gas projects.
Company facts
Categories
Key statistics
Year to date −5.6% · Average volume (30d) 201.1K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Target |
|---|---|---|---|---|---|
| Aug 30, 2024 | Wells Fargo | Downgrade | Equal Weight | Underweight | $17 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 6, 2026Q3 FY26 | −$0.15 | −$0.26 | −73.3% | $255.0M | $261.4M | +2.5% | −0.67% |
| May 7, 2026Q2 FY26 | $1.74 | $2.06 | +18.4% | $575.0M | $551.2M | −4.1% | +0.31% |
| Feb 5, 2026Q1 FY26 | $0.53 | $0.69 | +30.2% | $392.0M | $326.4M | −16.7% | −1.89% |
| Nov 13, 2025Q4 FY25 | −$0.51 | −$0.62 | −21.6% | $227.0M | $211.4M | −6.9% | +2.10% |
Financial highlights
| 12 quarters | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $587.7M | $260.2M | $211.4M | $370.4M | $551.2M | $261.4M | |
| Gross profit | $345.3M | $160.6M | $4.1M | $94.6M | $189.3M | $261.4M | |
| Operating income | $158.4M | $5.6M | −$16.8M | $66.7M | $159.3M | $2.2M | |
| Net income | $137.1M | −$14.8M | −$35.1M | $45.8M | $137.5M | −$17.5M | |
| Diluted EPS | $2.10 | −$0.23 | −$0.53 | $0.69 | $2.06 | −$0.26 | |
| Gross margin | 58.8% | 61.7% | 2.0% | 25.5% | 34.3% | 100.0% | |
| Operating margin | 27.0% | 2.1% | -7.9% | 18.0% | 28.9% | 0.9% |
Fiscal years (4-quarter sums)FY21 $1.29B · FY22 $1.50B · FY23 $1.43B · FY24 $1.33B · FY25 $1.43B
Revenue by product · Q3 FY26
Balance sheet, Jun 27, 2026Cash & short-term investments $5.0M · Total debt $1.33B · Total assets $2.36B · Shareholders' equity $713.0M
Dividends
Raised for 4 straight years. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 4, 2026 | Aug 4 | Aug 11 | $0.325 | |
| May 5, 2026 | May 5 | May 12 | $0.325 | |
| Feb 3, 2026 | Feb 3 | Feb 10 | $0.325 | |
| Nov 4, 2025 | Nov 4 | Nov 12 | $0.325 | |
| Aug 5, 2025 | Aug 5 | Aug 12 | $0.325 | |
| May 6, 2025 | May 6 | May 13 | $0.325 | |
| Feb 4, 2025 | Feb 4 | Feb 11 | $0.325 | |
| Nov 5, 2024 | Nov 5 | Nov 12 | $0.325 |
Ownership
Shares outstanding 66.34M · Float 64.32M · 97.0% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| ALPS Advisors, Inc. | 15.38M | 23.18% | 13G | May 11, 2026 |
| Mirae Asset Global Etfs Holdings Ltd. | 4.45M | 6.70% | 13F | May 15, 2026 |
| Global X Management CO LLC | 4.25M | 6.54% | 13G | May 15, 2025 |
| Goldman Sachs Group Inc | 1.42M | 2.14% | 13F | May 15, 2026 |
| JPMorgan Chase & Co | 1.40M | 2.11% | 13F | May 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Dec 2, 2025 | Matthew J. Chanin | director | −10,000 | $19.31 |
Peers
- UGI
AmeriGas leads U.S. retail propane distribution
- Spectrum Brands
U.S. propane, heating oil, refined fuels and CNG/RNG overlap
- Star Group
Northeast propane, heating oil and related-fuel overlap
- OPAL
RNG production, marketing and fuel-station services overlap
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Suburban Propane | $17.63 | −0.06% | $1.17B | 9.0 | — | 0.8 | +0.5% |
| UGI | $38.01 | −0.03% | $8.15B | 12.7 | 13.0 | 1.1 | −4.5% |
| Spectrum Brands | $89.07 | +0.51% | $2.06B | 26.5 | 17.2 | 0.7 | +7.7% |
| Star Group | $12.74 | 0.00% | $416.3M | 6.2 | — | 0.2 | +17.2% |
| OPAL | $2.05 | +0.14% | $58.3M | — | 2.2 | 0.2 | +7.4% |
| Median | 12.7 | 13.0 | 0.5 | +7.5% |