WHIPPANY, N.J., Dec. 22, 2025 /PRNewswire/ -- Suburban Propane Partners, L.P. (NYSE:SPH) ("Suburban Propane") announced today the completion of its previously announced offering of $350 million aggregate principal amount of 6.500% Senior Notes due 2035 (the "2035 Senior Notes"), in a private offering to "qualified institutional buyers," as defined in Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and non-U.S. persons outside the United States under Regulation S under the Sec ...

Core Insights - Petrobras and Braskem have signed long-term feedstock supply contracts valued at $17.8 billion, marking a significant milestone in the Brazilian petrochemical industry [1][2][18] Group 1: Overview of the Agreements - The agreements consist of two major contracts: one for petrochemical naphtha worth $11.3 billion and another for natural gas liquids (NGLs) worth $5.6 billion, set to commence in January 2026 [3][4] - The naphtha supply deal will provide 4.116 million tons in 2026, increasing to 4.316 million tons by 2030, ensuring a stable supply for Braskem's operations [5][6] Group 2: Strategic Shift and Expansion - Braskem is transitioning from naphtha to more competitive NGLs like ethane, aiming to enhance Brazil's position in global petrochemical production [2][11] - The $5.6 billion contract for ethane, propane, and hydrogen is crucial for expanding Braskem's Duque de Caxias facilities, expected to run for 11 years starting in 2026 [6][7] Group 3: Long-term Supply Commitments - From 2026 to 2028, Petrobras will supply 580,000 tons of ethylene equivalent annually, increasing to 725,000 tons per year starting in 2029, supporting Braskem's expansion plans [10][11] - Additional propylene supply agreements valued at approximately $940 million will further support Braskem's diverse production lines, ensuring access to necessary feedstocks [14][15] Group 4: Strategic Influence and Future Outlook - Petrobras is increasing its influence over Braskem as Novonor plans to divest its stake, indicating a trend of state-controlled entities shaping Brazil's petrochemical sector [12][13] - The collaboration between Petrobras and Braskem is expected to unlock nearly $800 million in investments, driving growth and modernization in the Brazilian petrochemical industry [7][18]

Core Viewpoint - New Jersey has declared a state of emergency due to a potential propane shortage caused by a service disruption at Energy Transfer's Marcus Hook Terminal in Pennsylvania, affecting home and commercial heating for approximately 186,000 residents in New Jersey [1][2]. Group 1: Emergency Declaration and Impact - Governor Phil Murphy's emergency order waives hours-of-service regulations for trucking heating fuels to address the supply chain disruption [1]. - The disruption at the Marcus Hook Terminal is due to an electrical fault that occurred on November 19, which has led to a force majeure declaration by Energy Transfer [2]. Group 2: Supply Chain and Distribution - Customers are currently on allocation, receiving only 70% of their propane loads, with increased wait times for trucks loading propane directly from the pipeline [3]. - Trucks are also sourcing propane from alternative distribution hubs, such as Phillips 66's Bayway refinery in Linden, New Jersey [3]. Group 3: Market Conditions and Pricing - Approximately 2.7% of New Jersey households and 5.2% of Pennsylvania households utilize propane for heating, with residential propane prices remaining stable since the incident, while wholesale prices have increased by 30 cents per gallon in New Jersey and 11 cents per gallon in Pennsylvania [5]. - The Pennsylvania Department of Transportation has also waived hours-of-service regulations for bulk propane transport in response to the disruption [5]. Group 4: Regulatory Actions and Future Outlook - The National Propane Gas Association is in discussions with the Federal Motor Carrier Safety Administration for a regional waiver due to the impact on the Mid-Atlantic and New England regions [6]. - The waivers in Pennsylvania and New Jersey are specifically related to the disruption at Marcus Hook and not indicative of an overall propane shortage [7].

New Jersey Governor Phil Murphy declared a state of emergency effective Friday over a potential propane shortage for home and commercial heating after a service disruption at a major plant in Pennsylvania https://t.co/jBysYm2ak7 ...

Core Insights - Ferrellgas Partners, L.P. reported a strong start to fiscal 2026, with operational improvements and successful refinancing efforts contributing to a positive outlook for the winter heating season and the full fiscal year [2][3] Financial Highlights - The company completed financing transactions in October 2025, including redeeming $650 million of Senior Notes due 2026 and issuing $650 million of new Senior Notes due 2031, which strengthened its balance sheet [3] - Revenue for the first fiscal quarter decreased by $8.9 million, or 2%, to $355.2 million, while gross profit remained flat at $195.2 million [4][17] - Adjusted EBITDA decreased by $6.5 million, or 18%, to $29.3 million compared to the prior year quarter, primarily due to increased operating and administrative expenses [5][19] Operational Highlights - Retail sales increased by $0.7 million, driven by a $2.8 million rise in sales to residential and agricultural customers, despite a decrease in wholesale sales due to the absence of significant weather events [4][10] - The retail business experienced a 37% increase in temporary heat tank sets compared to the prior year, indicating strong customer demand [9] - The wholesale business normalized due to a lack of storm-related demand, but the company maintained profitability through disciplined management of production and logistics costs [10] Balance Sheet Overview - As of October 31, 2025, total assets were $1.38 billion, a decrease from $1.42 billion at the end of the previous fiscal year [29] - Current liabilities decreased significantly from $914.5 million to $289.0 million, reflecting improved financial flexibility [29] - Long-term debt increased to $1.45 billion from $815.5 million, indicating a strategic shift in financing [29] Customer and Market Strategy - The company focused on enhancing customer service and retention, particularly in the North Central, Northeast, and Pacific regions, through investments in customer service representatives [9] - Strategic outbound calling campaigns were implemented to capture on-demand customers in preparation for the winter season [9][11]

J P M O R G A N North America Equity Research 08 December 2025 2026 E&P and Natural Gas Outlook Oil and NGL Fundamentals Stuck Between a Rock and a Hard Place While Tailwinds Continue for U.S. Gas; Upgrade CNX and DVN, Downgrade AR, OXY, and RRC JPM View: The 2026 E&P Outlook continues to be framed by supply side risks for oil and liquids, but the long-awaited demand inflection for natural gas has finally arrived. While there may be some temptation to take the other side of the "awash in oil" trade, the mag ...

Shares of Star Group, L.P. (SGU) have declined 1% since reporting earnings for the fourth quarter of fiscal 2025 compared with the S&P 500 index’s 0.5% fall during the same period. Over the past month, the stock has fallen 1% against the S&P 500’s 0.7% return.Earnings & Revenue PerformanceStar Group’s fourth-quarter and fiscal 2025 results showed a mix of solid volume gains, improved profitability and the ongoing impacts of acquisitions. Fiscal fourth-quarter revenues rose 3.1% year over year to $247.7 mill ...

Core Insights - Star Group, L.P. reported a modest revenue increase of approximately 1.0 percent for fiscal year 2025, totaling $1.8 billion, driven by higher volumes sold and increased sales of installations and services, despite a decline in selling prices due to lower wholesale product costs [2][3] - The company experienced a significant increase in net income, rising by $38.3 million to $73.5 million, primarily due to favorable changes in derivative instruments and higher Adjusted EBITDA [3][4] - Adjusted EBITDA for fiscal 2025 increased by 22.2 percent to $136.4 million, attributed to improved margins and higher sales volumes, despite increased expenses related to weather hedge contracts [4][5] Financial Performance - For the fiscal year ended September 30, 2025, total revenue was $1.8 billion, reflecting a 1.0 percent increase from the previous year [2] - The volume of home heating oil and propane sold increased by 29.2 million gallons, or 11.5 percent, to 282.6 million gallons, aided by colder temperatures and acquisitions [2] - Net income for fiscal 2025 was $73.5 million, up from $35.2 million in fiscal 2024, marking a significant year-over-year improvement [3][26] - Adjusted EBITDA rose by $24.8 million, or 22.2 percent, to $136.4 million, driven by increased margins and sales volumes [4][26] Quarterly Performance - In the fourth quarter of fiscal 2025, total revenue increased by 3.1 percent to $247.7 million compared to $240.3 million in the prior-year period [6] - The volume of home heating oil and propane sold in the fourth quarter rose by 1.5 million gallons, or 8.1 percent, to 20.0 million gallons [6] - The company reported a fourth quarter Adjusted EBITDA loss of $33.0 million, compared to a loss of $29.7 million in the same quarter of the previous year [8] Operational Highlights - The company completed a significant acquisition during the fiscal year and maintained disciplined margin management while keeping overhead expenses in check [5] - Revenue from installation and service offerings grew nearly 10 percent over fiscal 2024, contributing to overall revenue growth [5] - Star Group aims to continue diversifying its operations through further acquisitions and maximizing profitability in installations and services [5]

Core Insights - The appointment of Megan Sharp to the Propane Education & Research Council (PERC) highlights the importance of leadership in the evolving propane industry [1][2][3] - Sharp emphasizes the role of propane as a clean, affordable, and reliable energy source, aiming to enhance its presence in the national energy conversation [2] - Ferrellgas, through its operating partnership, serves propane customers across all 50 states, the District of Columbia, and Puerto Rico, with a significant presence through its Blue Rhino brand [3] Group 1 - Megan Sharp has been appointed as a Councilor to PERC, which focuses on safety, training, research, and consumer education in the propane industry [1][2] - Sharp brings nearly 20 years of industry experience and a commitment to advancing the propane sector [2] - Ferrellgas' President and CEO, Tamria Zertuche, recognizes Sharp's leadership in operations and customer experience as a valuable asset for the company and the industry [3] Group 2 - Ferrellgas operates in all 50 states and has a significant market presence with approximately 65,000 locations selling its Blue Rhino propane exchange brand [3] - The company has an employee stock ownership plan, with employees indirectly owning 1.1 million Class A Units of the partnership [3] - Ferrellgas filed its Annual Report on Form 10-K for the fiscal year ended July 31, 2025, with the SEC on October 15, 2025 [3]

Core Insights - Suburban Propane Partners, L.P. announced the results of its 2025 SuburbanCares community engagement efforts, emphasizing its commitment to philanthropy and community support across the United States [1][4]. Community Engagement Initiatives - In 2025, SuburbanCares engaged over 150 employee volunteers, contributing approximately 600 hours of service across 20 communities, including locations such as Tallahassee, FL, and Twin Falls, ID [2]. - The initiative included partnerships with the American Red Cross and local nonprofit organizations, which were selected by employees, such as Second Harvest of the Big Bend and the Boys and Girls Club of Lancaster [2][3]. Company Commitment and Values - The company’s Vice President highlighted that SuburbanCares reflects the organization’s dedication to service, compassion, and community, with employees playing a crucial role in making a positive impact [3]. - Suburban Propane aims to expand its SuburbanCares initiatives in the future, continuing to drive positive community impact [4]. Company Overview - Suburban Propane is a publicly traded master limited partnership, servicing approximately 1 million customers through about 750 locations across 42 states [5]. - The company focuses on propane, renewable propane, renewable natural gas, and low carbon fuel alternatives, showcasing a commitment to customer service and community engagement [6][7].