SPH on NYSE

SUBURBAN PROPANE PARTNERS LP

American retail-miscellaneous retail company based in Whippany. Summary from the record

$17.14 up 0.12 (0.71%)Price as of Oct 15, 2026 at 17:33 UTC

Last updated Oct 19, 2026.

Overview

$1.4BRevenue, fiscal 20254
$106.6MNet income, fiscal 20254

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  • TickerSPH on NYSE2
  • IndustryRetail-Miscellaneous Retail2
  • HeadquartersWhippany, United States2
  • Incorporated inDE5
  • Business addressP O Box 206, 240 Route 10 West, Wippany, Nj 079815
  • Filer categoryLarge accelerated filer5
  • Legal formLimited Partnership2
  • Kind of organizationLimited partnership2
  • LEIJJAX4X60DE65EYFOTY732
  • StatusActive2
  • LEI statusLapsed (not renewed)2
  • Registered addressC/O CORPORATION SERVICE COMPANY, 19808 Wilmington, United States2
  • Registered withDivision of Corporations, Department of State, 25649882

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Suburban Propane Partners, L.P. (the “Partnership”), a publicly traded Delaware limited partnership, is a nationwide marketer and distributor of a diverse array of products meeting the energy needs of our customers. We specialize in the distribution of propane, renewable propane, renewable natural gas (“RNG”), fuel oil and refined fuels, as well as the marketing of natural gas and electricity in deregulated markets and production of and investing in low-carbon fuel alternatives. In support of our core marketing and distribution operations, we install and service a variety of home comfort equipment, particularly in the areas of heating and ventilation. We believe, based on LP/Gas Magazine dated February 2025, that we are the third-largest retail marketer of propane in the United States, measured by retail gallons sold in calendar year 2024. As of September 27, 2025, we were serving the en…8 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

14.4%Operating margin4
7.4%Net margin4
7.9%Revenue growth, 20254
$114.3MFree cash flow4

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Propane brought in 86% of the revenue SUBURBAN PROPANE PARTNERS LP broke down this way in fiscal 2025.

  1. Propane$1.3B486%up 10% from 2024
  2. Other Sales Revenue Net$75.1M45%down 3% from 2024
  3. Fuel Oil And Refined Fuels$67.4M45%down 9% from 2024
  4. Wholesale$39.9M43%up 39% from 2024
  5. Natural Gas And Electricity$24.6M42%down 5% from 2024
Products and services by year
Products and services202320242025
Propane$1.2B$1.2B$1.3B
Other Sales Revenue Net$73.8M$77.5M$75.1M
Fuel Oil And Refined Fuels$92.1M$73.8M$67.4M
Wholesale$26.8M$28.6M$39.9M
Natural Gas And Electricity$31.2M$25.9M$24.6M

Business segments

Propane brought in 88% of the revenue SUBURBAN PROPANE PARTNERS LP broke down this way in fiscal 2025.

  1. Propane$1.3B488%up 10% from 2024
  2. Other Operating$75.1M45%down 3% from 2024
  3. Fuel Oil And Refined Fuels$67.4M45%down 9% from 2024
  4. Natural Gas And Electricity$24.6M42%down 5% from 2024
Business segments by year
Business segments202320242025
Propane$1.2B$1.2B$1.3B
Other Operating$73.8M$77.5M$75.1M
Fuel Oil And Refined Fuels$92.1M$73.8M$67.4M
Natural Gas And Electricity$31.2M$25.9M$24.6M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue39¢$563.7M
  • Other costs48¢$684.6M
  • Interest5¢$76.3M
  • Income tax0¢$1.3M
  • Profit7¢$106.6M

Out of $1.4B in revenue.4

Where each dollar of operating cash went, fiscal 2025

  • Capital spending39¢$72.0M
  • Kept or used elsewhere61¢$114.3M

Out of $186.3M of cash from operations.4

Financial statements

Revenue9101112134$1.4B in 2025+7% since 2018
0$500.0M$1.0B$1.5B$2.0B2018: $1.3B$1.3B20182019: $1.3B$1.3B2019−6%2020: $1.1B$1.1B2020−13%2021: $1.3B$1.3B2021+16%2022: $1.5B$1.5B2022+17%2023: $1.4B$1.4B2023−5%2024: $1.3B$1.3B2024−7%2025: $1.4B$1.4B2025+8%
Operating income9101112134$206.3M in 2025+31% since 2018
0$100.0M$200.0M$300.0M2018: $158.0M$158.0M20182019: $150.9M$150.9M2019−5%2020: $140.3M$140.3M2020−7%2021: $213.2M$213.2M2021+52%2022: $206.3M$206.3M2022−3%2023: $206.8M$206.8M2023+0%2024: $171.2M$171.2M2024−17%2025: $206.3M$206.3M2025+20%
Net income9101112134$106.6M in 2025+39% since 2018
0$50.0M$100.0M$150.0M2018: $76.5M$76.5M20182019: $68.6M$68.6M2019−10%2020: $60.8M$60.8M2020−11%2021: $122.8M$122.8M2021+102%2022: $139.7M$139.7M2022+14%2023: $123.8M$123.8M2023−11%2024: $74.2M$74.2M2024−40%2025: $106.6M$106.6M2025+44%

Every line of the income statement as filed: the last 3 fiscal years, latest first.4

Period ending2025-09-302024-09-302023-09-30
Total Revenues$1.4B$1.3B$1.4B
Cost of products sold$563.7M$522.2M$590.1M
Operating$494.1M$476.9M$478.1M
General and administrative$96.4M$89.9M$91.6M
Depreciation and amortization$72.0M$67.0M$62.6M
Total Expenses$1.2B$1.2B$1.2B
Operating income$206.3M$171.2M$206.8M
Loss on debt extinguishment$0$215.0K$0
Interest expense, net$76.3M$74.6M$73.4M
Other, net$22.1M$21.5M$9.0M
Income before provision for income taxes$107.9M$74.9M$124.4M
Provision for income taxes$1.3M$734.0K$668.0K
Net income$106.6M$74.2M$123.8M
Net income per Common Unit - basic$1.64$1.15$1.94
Weighted average number of Common Units outstanding - basic65.1M shares64.3M shares63.8M shares
Net income per Common Unit - diluted$1.62$1.14$1.92
Weighted average number of Common Units outstanding - diluted65.6M shares64.8M shares64.4M shares

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Leadership

Who has led SUBURBAN PROPANE PARTNERS LP, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Mark A. Alexander2006–2008
  2. Michael A. Stivala2015–now

President

  1. Michael A. Stivala2014–now

Chief financial officer

  1. Robert M. Plante2006–2007
  2. Michael A. Stivala2007–2013
  3. Michael Kuglin2014–now

Chief operating officer

  1. Mark Wienberg2014–2015
2010201520202025
Board members and other officers (42)

Subsidiaries and ownership

Subsidiaries (GLEIF)

Ownership links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); each one cites its LEI record.

Timeline

  1. Nov 16, 2015New chief executive Michael A. Stivala becomes CEO18
  2. Oct 20, 2006New chief executive Mark A. Alexander becomes CEO19
  3. Dec 17, 1995Founded SUBURBAN PROPANE PARTNERS LP is founded2

Filings

321 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 73 major events, 175 insider forms, 14 large holders, 39 other. The latest 20:

  1. Oct 7, 2026SCHEDULE 13G/A EDGAR
  2. Sep 29, 2026144 EDGAR
  3. Sep 29, 20264 PRIMARY DOCUMENT EDGAR
  4. Sep 29, 20265 PRIMARY DOCUMENT EDGAR
  5. Sep 10, 2026SCHEDULE 13G/A EDGAR
  6. Sep 1, 20264 PRIMARY DOCUMENT EDGAR
  7. Aug 27, 2026144 EDGAR
  8. Aug 6, 202610-Q EDGAR
  9. Aug 6, 20268-K EDGAR
  10. Jul 23, 20268-K EDGAR
  11. Jul 22, 20268-K EDGAR
  12. May 11, 2026SCHEDULE 13G/A EDGAR
  13. May 7, 202610-Q EDGAR
  14. May 7, 20268-K EDGAR
  15. Apr 23, 20268-K EDGAR
  16. Apr 22, 20268-K EDGAR
  17. Feb 5, 202610-Q EDGAR
  18. Feb 5, 20268-K EDGAR
  19. Jan 22, 20268-K EDGAR
  20. Jan 21, 20268-K EDGAR

The 321 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

39 open-market trades by officers, directors and large owners since October 2021: 0 buys and 39 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 29, 2026Swift JaneDirectorSale148$16.39$2.4KForm 4
Sep 28, 2026Swift JaneDirectorSale364$16.53$6.0KForm 4
Sep 23, 2026Swift JaneDirectorSale224$16.74$3.8KForm 4
Sep 22, 2026Swift JaneDirectorSale521$16.91$8.8KForm 4
Aug 31, 2026Koepke Bryon LVP,General Counsel & SecretarySale2,848$17.65$50.3KForm 4
Dec 2, 2025Chanin Matthew JDirectorSale10,000$19.31$193.1KForm 4
Aug 13, 2025LOGAN HAROLD R JRDirectorSale7,500$18.66$139.9KForm 4
May 21, 2025LOGAN HAROLD R JRDirectorSale6,900$19.14$132.1KForm 4
Mar 12, 2025Brinkworth DouglasSVP- Prod.Sup,Purch.&LogisticsSale2,000$20.50$41.0KForm 4
Feb 18, 2025Palleschi CraigVP-Renewable Nat Gas OpersSale1,400$22.03$30.8KForm 4
Feb 11, 2025Schueler Michael ASale7,746$20.93$162.1KForm 4
Dec 5, 2024Brinkworth DouglasSVP- Prod.Sup,Purch.&LogisticsSale5,971$19.50$116.4KForm 4
Dec 4, 2024Schueler Michael ASale5,335$19.31$103.0KForm 4
Dec 3, 2024Connors Terence JDirectorSale1,500$19.62$29.4KForm 4
Dec 2, 2024Chanin Matthew JDirectorSale10,000$19.74$197.4KForm 4
Nov 27, 2024DAMBROSIO A DAVINVice President & TreasurerSale6,500$18.90$122.8KForm 4
Nov 26, 2024Swift JaneDirectorSale7,438$18.72$139.2KForm 4
Nov 25, 2024LOGAN HAROLD R JRDirectorSale3,000$18.26$54.8KForm 4
Nov 20, 2024Palleschi CraigVP-Renewable Nat Gas OpersSale2,800$17.72$49.6KForm 4
Sep 6, 2024LOGAN HAROLD R JRDirectorSale2,500$17.37$43.4KForm 4

All 39 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Alps Advisors Inc14,720,155$251.7M1.2%−655,419
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.4,528,873$77.4M0.1%+81,289
Goldman Sachs Group Inc1,578,662$27.0M0.0%+155,848
Jpmorgan Chase & Co1,431,306$25.0M0.0%+29,085
Bowen Hanes & Co Inc1,016,000$20.0M0.5%No change
Morgan Stanley636,887$10.9M0.0%−285,400
UBS Group AG514,190$8.8M0.0%+141,197
Blackstone Inc.421,332$7.2M0.0%−19,604
Jane Street Group, LLC269,539$4.6M0.0%New
Fractal Investments LLC214,864$3.7M0.4%No change
Raymond James Financial Inc212,633$3.6M0.0%−3,921
Commonwealth Equity Services, LLC205,071$3.5M0.0%+10,501
Lido Advisors, LLC202,235$3.5M0.0%+2,643
LPL Financial LLC151,620$2.6M0.0%+11,944
CIBC Bancorp USA Inc.150,869$2.6M0.0%New
Levin Capital Strategies, L.P.145,722$2.5M0.2%−4,101
Citadel Advisors LLC138,979$2.4M0.0%+107,483
Wells Fargo & Company/mn83,141$1.4M0.0%+16,161
Private Advisor Group, LLC82,358$1.4M0.0%+4,506
Federated Hermes, Inc.68,476$1.2M0.0%−2,930
Cetera Investment Advisers67,297$1.2M0.0%+6,327
Osaic Holdings, Inc.66,223$1.1M0.0%+7,091
Moneta Group Investment Advisors LLC64,972$1.1M0.0%No change
Bank Of America Corp /de/61,006$1.0M0.0%−11,751
Mariner, LLC54,589$933.5K0.0%−327

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

14 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Dec 22, 2021Mark GreenRepublican, HouseSale$250,001 - $500,000+42.4%Report
Sep 2, 2021Mark GreenRepublican, HouseBuy$250,001 - $500,000−57.4%Report
Oct 5, 2020Mark GreenRepublican, HouseSale$250,001 - $500,000+122.2%Report
Oct 5, 2020Mark GreenRepublican, HouseSale$100,001 - $250,000+122.2%Report
Aug 28, 2020Mark GreenRepublican, HouseBuy$15,001 - $50,000−86.8%Report
Aug 14, 2020Mark GreenRepublican, HouseBuy$15,001 - $50,000−103.7%Report
Aug 11, 2020Mark GreenRepublican, HouseBuy$15,001 - $50,000−106.5%Report
Aug 4, 2020Mark GreenRepublican, HouseBuy$1,001 - $15,000−98.7%Report
Jul 8, 2020Mark GreenRepublican, HouseBuy$15,001 - $50,000−120.7%Report
Jul 7, 2020Mark GreenRepublican, HouseBuy$50,001 - $100,000−123.6%Report
Jul 2, 2020Mark GreenRepublican, HouseBuy$50,001 - $100,000−126.7%Report
Jun 11, 2020Mark GreenRepublican, HouseBuy$1,001 - $15,000−134.1%Report
Jun 10, 2020Mark GreenRepublican, HouseBuy$15,001 - $50,000−127.8%Report
Jun 10, 2020Mark GreenRepublican, HouseBuy$50,001 - $100,000−127.8%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

Sources

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