Sprague Resources LP engages in the purchase, storage, distribution, and sale of refined petroleum products and natural gas in the United States and Canada. The company operates through four segments: Refined Products, Natural Gas, Materials Handling, and Other Operations. The Refined Products segment purchases and sells various refined products, such as heating oil, diesel fuel, residual fuel oil, kerosene, jet fuel, gasoline, and asphalt to wholesale, retail, and commercial customers. This segment's wholesale customers consist of approximately 1,100 home heating oil retailers, and diesel fuel and gasoline resellers; and commercial customers include federal and state agencies, municipalities, regional transit authorities, drill sites, large industrial companies, real estate management companies, hospitals, educational institutions, and asphalt paving companies. The Natural Gas segment purchases natural gas from natural gas producers and trading companies and sells and distributes natural gas to approximately 15,000 commercial and industrial customer locations across 13 states in the Northeast and Mid-Atlantic United States. The Materials Handling segment offloads, stores, and prepares for the delivery of various customer-owned products, including asphalt, crude oil, clay slurry, salt, gypsum, residual fuel oil, coal, petroleum coke, caustic soda, tallow, pulp, and heavy equipment. The Other Operations segment engages in coal marketing and distribution; and commercial trucking activities. As of December 31, 2020, the company had combined storage capacity of 14.6 million barrels for refined products and other liquid materials, as well as 2.0 million square feet of materials handling capacity. Sprague Resources LP was founded in 1870 and is headquartered in Portsmouth, New Hampshire. As of May 28, 2021, Sprague Resources LP operates as a subsidiary of Hartree Partners, LP.
IPO Year: 2013
Exchange: NYSE
Website: spragueenergy.com
PORTSMOUTH, N.H., Nov. 01, 2022 (GLOBE NEWSWIRE) -- Sprague Resources LP (the "Partnership" or "Sprague") today announced that the transaction contemplated by the Agreement and Plan of Merger dated June 2, 2002, and as amended on August 31, 2022, by and among the Partnership, Sprague Resources GP LLC, and affiliates of Hartree Partners, LP ("Hartree"), was completed on Tuesday, November 1, 2022 at 12:01 a.m. The closing of the transaction takes the Partnership from a publicly traded company to a private company solely owned by Hartree, and the Partnership's common units will no longer be listed on the NYSE. About Sprague Resources LPSprague Resources LP is a master limited partnership eng
PORTSMOUTH, N.H., Oct. 21, 2022 (GLOBE NEWSWIRE) -- Sprague Resources LP (the "Partnership") (NYSE:SRLP) today announced that it has notified the New York Stock Exchange ("NYSE") of the anticipated closing date of the previously-announced merger transaction contemplated by that certain Agreement and Plan of Merger, dated June 2, 2022, as amended, by and among the Partnership, Sprague Resources GP LLC, and affiliates of Hartree Partners, LP (the "Purchaser"). The Partnership anticipates that the merger will close on or about November 1, 2022. Upon the closing of the merger on the terms and conditions set forth in the merger agreement, the Partnership will be a wholly owned subsidiary of th
PORTSMOUTH, N.H., Oct. 17, 2022 (GLOBE NEWSWIRE) -- Sprague Resources LP ("Sprague" or the "Partnership") (NYSE:SRLP) announced today that the Board of Directors of its general partner, Sprague Resources GP LLC (the "General Partner"), declared a cash distribution of $0.4338 per unit ($1.73 per unit on an annualized basis) for the quarter ended September 30, 2022, and is equal to the previous quarter's distribution. The announced distribution will be paid on Monday, October 31, 2022, to unitholders of record as of the close of business on Thursday, October 27, 2022. As announced and described in our Form 8-K filing with the Securities and Exchange Commission on June 2, 2022, Sprague, an
OVERLAND PARK, KS / ACCESSWIRE / August 31, 2022 / TortoiseEcofin today announced that Sprague Resources LP (NASDAQ:SRLP) will be removed from the Tortoise MLP Index® (TMLP), and the Tortoise North American Pipeline IndexSM (TNAP), as a result of the approved merger with an affiliate of Hartree Partners LP. Due to the merger, SRLP will be removed from both indices at market open on Thursday, September 1, 2022. SRLP will be dropped from both indices without special rebalancing.Special rebalancings in each of TMLP and TNAP are triggered by corporate actions such as mergers, bankruptcies, liquidations, and conversions in which the resulting weight of a single constituent exceeds the index's 7.5
PORTSMOUTH, N.H., Aug. 31, 2022 (GLOBE NEWSWIRE) -- Sprague Resources LP (the "Partnership") (NYSE:SRLP) today announced that it has entered into an amendment (the "Amendment") to the agreement and plan of merger (the "Merger Agreement") with an affiliate of Hartree Partners, LP ("Hartree"), pursuant to which Hartree will acquire all of the outstanding common units of the Partnership (the "Common Units") not already owned by Hartree and its affiliates (the "Merger"). The Amendment, among other things, provides (i) for an amendment of the date prior to which the Merger may not close without Hartree's consent from July 31, 2022 to November 28, 2022 (the "Inside Date"), (ii) for an amendment
PORTSMOUTH, N.H., Aug. 19, 2022 (GLOBE NEWSWIRE) -- Sprague Resources LP (the "Partnership") (NYSE:SRLP) today announced that it has notified the New York Stock Exchange ("NYSE") of the anticipated closing date of the previously-announced merger transaction contemplated by that certain Agreement and Plan of Merger, dated June 2, 2022, by and among the Partnership, Sprague Resources GP LLC, and affiliates of Hartree Partners, LP (the "Purchaser"). The Partnership anticipates that the merger will close on or about September 1, 2022. Upon the closing of the merger on the terms and conditions set forth in the merger agreement, the Partnership will be a wholly owned subsidiary of the Purchaser
PORTSMOUTH, N.H., Aug. 04, 2022 (GLOBE NEWSWIRE) -- Sprague Resources LP ("Sprague") (NYSE:SRLP) today reported its financial results for the second quarter ended June 30, 2022. Second Quarter 2022 Highlights Net sales were $1,278.3 million for the second quarter of 2022, compared to net sales of $657.7 million for the second quarter of 2021.GAAP net loss was $45.3 million for the second quarter of 2022, compared to net loss of $45.6 million for the second quarter of 2021.Adjusted gross margin* was $51.1 million for the second quarter of 2022, compared to adjusted gross margin of $38.8 million for the second quarter of 2021.Adjusted EBITDA* was $7.0 million for the second quarter of 2022
PORTSMOUTH, N.H., July 25, 2022 (GLOBE NEWSWIRE) -- Sprague Resources LP ("Sprague" or the "Partnership") (NYSE:SRLP) announced today that the Board of Directors of its general partner, Sprague Resources GP LLC (the "General Partner"), declared a cash distribution of $0.4338 per unit ($1.73 per unit on an annualized basis) for the quarter ended June 30, 2022, and is equal to the previous quarter's distribution. The announced distribution will be paid on Wednesday, August 10, 2022, to unitholders of record as of the close of business on Friday, August 5, 2022. As announced and described in our Form 8-K filing with the Securities and Exchange Commission on June 2, 2022, Sprague, and its g
PORTSMOUTH, N.H., June 02, 2022 (GLOBE NEWSWIRE) -- Sprague Resources LP ("Sprague") (NYSE:SRLP) today announced that it has entered into a definitive agreement and plan of merger (the "Agreement") pursuant to which an affiliate of Hartree Partners, LP ("Hartree") will acquire all of the outstanding common units of Sprague not already owned by Hartree and its affiliates (the "Common Units"). The Agreement follows the offer made by Hartree on January 11, 2022 to acquire the Common Units. The Agreement provides for an all-cash transaction, whereby each holder of the Common Units will receive $19.00 per common unit owned, representing a 27.3% premium to the closing price of the common units
PORTSMOUTH, N.H., May 05, 2022 (GLOBE NEWSWIRE) -- Sprague Resources LP ("Sprague") (NYSE:SRLP) today reported its financial results for the first quarter ended March 31, 2022. First Quarter 2022 Highlights Net sales were $1,813.3 million for the first quarter of 2022, compared to net sales of $1,036.1 million for the first quarter of 2021.GAAP net income was $17.9 million for the first quarter of 2022, compared to net income of $48.8 million for the first quarter of 2021.Adjusted gross margin* was $141.5 million for the first quarter of 2022, compared to adjusted gross margin of $106.2 million for the first quarter of 2021.Adjusted EBITDA* was $89.6 million for the first qua
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PORTSMOUTH, N.H., Oct. 17, 2022 (GLOBE NEWSWIRE) -- Sprague Resources LP ("Sprague" or the "Partnership") (NYSE:SRLP) announced today that the Board of Directors of its general partner, Sprague Resources GP LLC (the "General Partner"), declared a cash distribution of $0.4338 per unit ($1.73 per unit on an annualized basis) for the quarter ended September 30, 2022, and is equal to the previous quarter's distribution. The announced distribution will be paid on Monday, October 31, 2022, to unitholders of record as of the close of business on Thursday, October 27, 2022. As announced and described in our Form 8-K filing with the Securities and Exchange Commission on June 2, 2022, Sprague, an
PORTSMOUTH, N.H., Aug. 04, 2022 (GLOBE NEWSWIRE) -- Sprague Resources LP ("Sprague") (NYSE:SRLP) today reported its financial results for the second quarter ended June 30, 2022. Second Quarter 2022 Highlights Net sales were $1,278.3 million for the second quarter of 2022, compared to net sales of $657.7 million for the second quarter of 2021.GAAP net loss was $45.3 million for the second quarter of 2022, compared to net loss of $45.6 million for the second quarter of 2021.Adjusted gross margin* was $51.1 million for the second quarter of 2022, compared to adjusted gross margin of $38.8 million for the second quarter of 2021.Adjusted EBITDA* was $7.0 million for the second quarter of 2022
PORTSMOUTH, N.H., July 25, 2022 (GLOBE NEWSWIRE) -- Sprague Resources LP ("Sprague" or the "Partnership") (NYSE:SRLP) announced today that the Board of Directors of its general partner, Sprague Resources GP LLC (the "General Partner"), declared a cash distribution of $0.4338 per unit ($1.73 per unit on an annualized basis) for the quarter ended June 30, 2022, and is equal to the previous quarter's distribution. The announced distribution will be paid on Wednesday, August 10, 2022, to unitholders of record as of the close of business on Friday, August 5, 2022. As announced and described in our Form 8-K filing with the Securities and Exchange Commission on June 2, 2022, Sprague, and its g
PORTSMOUTH, N.H., May 05, 2022 (GLOBE NEWSWIRE) -- Sprague Resources LP ("Sprague") (NYSE:SRLP) today reported its financial results for the first quarter ended March 31, 2022. First Quarter 2022 Highlights Net sales were $1,813.3 million for the first quarter of 2022, compared to net sales of $1,036.1 million for the first quarter of 2021.GAAP net income was $17.9 million for the first quarter of 2022, compared to net income of $48.8 million for the first quarter of 2021.Adjusted gross margin* was $141.5 million for the first quarter of 2022, compared to adjusted gross margin of $106.2 million for the first quarter of 2021.Adjusted EBITDA* was $89.6 million for the first qua
PORTSMOUTH, N.H., April 25, 2022 (GLOBE NEWSWIRE) -- Sprague Resources LP ("Sprague") (NYSE:SRLP) announced today that the Board of Directors of its general partner, Sprague Resources GP LLC (the "General Partner"), declared a cash distribution of $0.4338 per unit ($1.73 per unit on an annualized basis) for the quarter ended March 31, 2022, and is equal to the previous quarter's distribution. The announced distribution will be paid on Wednesday, May 11, 2022, to unitholders of record as of the close of business on May 6, 2022. Unaudited First Quarter 2022 Financial Results and Earnings Conference Call Sprague will release its first quarter 2022 unaudited financial results before the ope
PORTSMOUTH, N.H., March 03, 2022 (GLOBE NEWSWIRE) -- Sprague Resources LP ("Sprague") (NYSE:SRLP) today reported its financial results for the fourth quarter and twelve months ended December 31, 2021. Fourth Quarter 2021 Highlights Net sales were $1,138.9 million for the fourth quarter of 2021, compared to $627.4 million for the fourth quarter of 2020.GAAP net income was $43.7 million for the fourth quarter of 2021, compared to net income of $2.5 million for the fourth quarter of 2020.Adjusted gross margin* was $71.0 million for the fourth quarter of 2021, compared to $69.9 million for the fourth quarter of 2020.Adjusted EBITDA* was $27.5 million for the fourth quarter of 2021, compared
PORTSMOUTH, N.H., Jan. 24, 2022 (GLOBE NEWSWIRE) -- Sprague Resources LP ("Sprague") (NYSE:SRLP) announced today that the Board of Directors of its general partner, Sprague Resources GP LLC (the "General Partner"), declared a cash distribution of $0.4338 per unit ($1.73 per unit on an annualized basis) for the quarter ended December 31, 2021. The fourth quarter distribution is equal to the previous quarter distribution amount. The announced distribution will be paid on Wednesday, February 9, 2022, to unitholders of record as of the close of business on February 4, 2022. Fourth Quarter and Audited Full Year 2021 Financial Results and Earnings Conference CallSprague will release its fourth
PORTSMOUTH, N.H., Nov. 04, 2021 (GLOBE NEWSWIRE) -- Sprague Resources LP ("Sprague") (NYSE:SRLP) today reported its financial results for the third quarter ended September 30, 2021. Third Quarter 2021 Highlights Net sales were $665.5 million for the third quarter of 2021, compared to net sales of $390.5 million for the third quarter of 2020.GAAP net loss was $115.8 million for the third quarter of 2021, compared to net income of $9.7 million for the third quarter of 2020.Adjusted gross margin* was $57.9 million for the third quarter of 2021, compared to adjusted gross margin of $56.6 million for the third quarter of 2020.Adjusted EBITDA* was $18.4 million for the third quarter of 2021, c
PORTSMOUTH, N.H., Oct. 25, 2021 (GLOBE NEWSWIRE) -- Sprague Resources LP ("Sprague") (NYSE:SRLP) announced today that the Board of Directors of its general partner, Sprague Resources GP LLC (the "General Partner"), declared a cash distribution of $0.4338 ($1.73 per unit on an annualized basis) for the quarter ended September 30, 2021. This represents a 35% reduction from the second quarter's cash distribution of $0.6675 per unit. The reduction will provide approximately $25 million annually in direct cash flow to invest in accretive growth projects while significantly boosting Sprague's distribution coverage ratio. "We're seeing a range of attractive opportunities associated with the evol
PORTSMOUTH, N.H., Aug. 05, 2021 (GLOBE NEWSWIRE) -- Sprague Resources LP ("Sprague") (NYSE:SRLP) today reported its financial results for the second quarter ended June 30, 2021. Second Quarter 2021 Highlights Net sales were $657.7 million for the second quarter of 2021, compared to net sales of $358.2 million for the second quarter of 2020.GAAP net loss was $45.6 million for the second quarter of 2021, compared to net loss of $25.1 million for the second quarter of 2020.Adjusted gross margin* was $38.8 million for the second quarter of 2021, compared to adjusted gross margin of $65.2 million for the second quarter of 2020.Adjusted EBITDA* was $3.0 million for the second quarter of 20
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8-K - Sprague Resources LP (0001525287) (Filer)
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8-K - Sprague Resources LP (0001525287) (Filer)
8-K - Sprague Resources LP (0001525287) (Filer)
8-K - Sprague Resources LP (0001525287) (Filer)
10-Q - Sprague Resources LP (0001525287) (Filer)