SUBURBAN PROPANE PARTNERS LP Annual Report - How They Did This Year

This year, we're taking a closer look at Suburban Propane Partners LP. They're primarily known for delivering propane, but they also deal in fuel oil, refined fuels, natural gas, and electricity. They serve both individual homes (residential retail) and larger businesses (wholesale customers). They also have a "Software" segment and other business areas.

What's New and Exciting? Suburban Propane is actively expanding and looking towards the future:

• Growing their core business: They've been busy acquiring other propane retailers in places like California, Texas, Florida, Nevada, and New Mexico. They even acquired a California-based propane retailer shortly after the fiscal year ended.
• Venturing into new energy: They're investing in and exploring new areas like Independence Hydrogen Inc (IH), Oberon Fuels Inc (Oberon), and Renewable Natural Gas (RNG) production.

How They Manage Their Money (A Quick Look): Suburban Propane Partners LP uses a mix of financing to run their operations. They have various Senior Notes due in 2027 and 2031, and "Green Bonds" that mature between 2028 and 2033. They also have a Revolving Credit Facility that's due in 2025.

What Could Be a Challenge? One thing to keep an eye on is their supplier concentration risk. They rely on a single supplier, Targa Liquids Marketing, for a significant portion of the products they sell.

This initial look shows a company that's growing its traditional business while also making strategic moves into the evolving energy landscape.