Sprague Resources LP

NYSE:SRLP Rapport sur les actions

Capitalisation boursière : US$524.8m

This company has been acquired

The company may no longer be operating, as it has been acquired. Find out why through their latest events.

Sprague Resources Résultats passés

Passé contrôle des critères 0/6

Informations clés

-54.78%

Taux de croissance des bénéfices

-53.28%

Taux de croissance du BPA

Oil and Gas Croissance de l'industrie33.67%
Taux de croissance des recettes3.02%
Rendement des fonds propresn/a
Marge nette-2.03%
Prochaine mise à jour des résultats08 Nov 2022

Mises à jour récentes des performances passées

Recent updates

Seeking Alpha • Oct 17

Sprague Resources declares $0.4338 dividend

Sprague Resources (NYSE:SRLP) declares $0.4338/share quarterly dividend, in line with previous. Forward yield 8.75% Payable Oct. 31; for shareholders of record Oct. 27; ex-div Oct. 26. See SRLP Dividend Scorecard, Yield Chart, & Dividend Growth.
Seeking Alpha • Jul 25

Sprague Resources declares $0.4338 dividend

Sprague Resources (NYSE:SRLP) declares $0.4338/share quarterly dividend, in line with previous. Forward yield 9.07% Payable Aug. 10; for shareholders of record Aug. 5; ex-div Aug. 4. See SRLP Dividend Scorecard, Yield Chart, & Dividend Growth.
Seeking Alpha • May 12

Sprague Resources: The Worst Is Still Coming

On the surface, it appears that Sprague Resources saw a strong start to 2022, with their adjusted EBITDA for the first quarter seeing a very impressive 45% increase year-on-year. Although when digging deeper, this is not the case, with these results being materially boosted by unrealized gains that provided no tangible benefits. They also saw a relatively large working capital draw that helped ease the pressure upon their very weak liquidity and strained credit facility, but obviously, this is merely temporary. Given the normal seasonality in their financial performance and the downbeat outlook for the remainder of 2022 from management, it seems that a cash burn is very likely. Following this grim outlook, it should not be surprising that I continue believing that my sell rating is appropriate.
Seeking Alpha • Mar 07

Sprague Resources: Liquidity Crisis Amplifying With A Terrible First Quarter Inbound, Time To Sell

Despite economic conditions improving, Sprague Resources was facing a liquidity crisis in late 2021. Whilst they saw a slight reprieve during the fourth quarter of 2021, they still saw negative operating cash flow during the full year. The market has moved back into a deep backwardation structure that threatens to see the cash burn continue into the first quarter of 2022. The balance available on their working capital credit facility is running low and thus without future lender support, they may even face issues remaining a going concern throughout 2022. The potential takeover seems to be anchoring their unit price but since this may not proceed, I believe that downgrading to a sell rating is now appropriate.
Seeking Alpha • Jan 02

Sprague Resources: Impending Liquidity Crisis, Distributions Could Be Suspended

The beaten-down Sprague Resources reduced their distributions by 35% in 2021 but the bigger issue right now is their impending liquidity crisis. Due to the oil and refined products markets being in a backwardation structure, it has seen their underlying operating cash flow turning deep into the negative. Their surface-level results were propped up by a massive working capital draw that stands to drain most of their working capital credit facility when it reverses. Since they have virtually no cash, unless their operating conditions improve significantly and quickly, this would lead to a liquidity crisis and likely see their distributions suspended. This is a very risky situation, but given their depressed unit price, it could rally if operating conditions improve, and thus, I still believe that my neutral rating is appropriate.
Seeking Alpha • Nov 30

Sprague Resources: 12.1% Yield But Risks Abound

Sprague Resources cut its distribution recently. The company reported its third quarter results that came in below expectations. We go over the current problems the company is facing and how it impacts the sustainability of the distribution.
Seeking Alpha • Oct 26

Sprague Resources: Distribution Cut Less Than Expected

Sprague Resources cut its distribution by 35%. This was below the low end of our estimated range. We go over what likely influenced this decision and what investors should be on the lookout for in the next 2 quarters.
Seeking Alpha • Oct 20

Double-Digit Dividends: 12.46%-Yielding Sprague Resources Looks Expensive

I’ve launched a new series focused on long and short opportunities in the double-digit dividend yield market and this is my sixth bearish idea. Sprague Resources plans to cut its quarterly distribution to fund growth capital projects and strengthen its balance sheet. The partnership’s forward EV/EBITDA multiple is between 9.9x and 11.3x and Hartree paid only $16.50 per unit in May. I think the unit price could be headed to $16.50 once the quarterly distribution gets cut.
Seeking Alpha • Aug 06

Sprague Resources: Distributions Cut As Warned, Brace For A Near Wipeout

Sprague Resources has announced that an impending distribution reduction, which I have been consistently warning, was a very real risk. They intend to transition to a more sustainable financial model that focuses on internally generated cash flow to pursue new growth investments. This will obviously push down their free cash flow significantly, which I estimate will entail at least a 50% reduction to their distributions. A significant issue pushing their hand is actually the financial distress caused by their credit facility borrowing base being repeatedly reduced and thus threatening their solvency. This could easily see a near wipeout for their distributions, and thus, until more is known, I believe that maintaining my neutral rating is appropriate.

Ventilation des recettes et des dépenses

Comment Sprague Resources gagne et dépense de l'argent. Sur la base des derniers bénéfices déclarés, sur une base LTM.

Historique des gains et des recettes

NYSE:SRLP Recettes, dépenses et bénéfices (USD Millions )
DateRecettesLes revenusDépenses G+ADépenses de R&D
30 Jun 224,896-991790
31 Mar 224,275-1001710
31 Dec 213,498-691630
30 Sep 212,987-1121630
30 Jun 212,712111600
31 Mar 212,412301620
31 Dec 202,336261580
30 Sep 202,708351550
30 Jun 202,900181570
31 Mar 203,204381580
31 Dec 193,502251620
30 Sep 193,583501610
30 Jun 193,619391600
31 Mar 193,698311620
31 Dec 183,771721690
30 Sep 183,619231730
30 Jun 183,492281690
31 Mar 183,264351640
31 Dec 172,851261600
30 Sep 172,690381500
30 Jun 172,621441520
31 Mar 172,585431510
31 Dec 162,39081490
30 Sep 162,287381510
30 Jun 162,422561540
31 Mar 162,606641560
31 Dec 153,482781630

Des revenus de qualité: SRLP n'est actuellement pas rentable.

Augmentation de la marge bénéficiaire: SRLP n'est actuellement pas rentable.

Analyse des flux de trésorerie disponibles par rapport aux bénéfices

Analyse de la croissance passée des bénéfices

Tendance des revenus: SRLP n'est pas rentable et les pertes ont augmenté au cours des 5 dernières années à un rythme de 54.8% par an.

Accélération de la croissance: Impossible de comparer la croissance des bénéfices de SRLP au cours de l'année écoulée à sa moyenne sur 5 ans car elle n'est actuellement pas rentable

Bénéfices par rapport au secteur d'activité: SRLP n'est pas rentable, ce qui rend difficile la comparaison de sa croissance des bénéfices de l'année écoulée avec celle du secteur Oil and Gas ( 6% ).

Rendement des fonds propres

ROE élevé: Le passif SRLP dépasse son actif, il est donc difficile de calculer son rendement des capitaux propres.

Rendement des actifs

Rendement des capitaux employés

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Analyse de l'entreprise et données financières

DonnéesDernière mise à jour (heure UTC)
Analyse de l'entreprise2022/11/01 22:12
Cours de l'action en fin de journée2022/10/31 00:00
Les revenus2022/06/30
Revenus annuels2021/12/31

Sources de données

Les données utilisées dans notre analyse de l'entreprise proviennent de S&P Global Market Intelligence LLC. Les données suivantes sont utilisées dans notre modèle d'analyse pour générer ce rapport. Les données sont normalisées, ce qui peut entraîner un délai avant que la source ne soit disponible.

PaquetDonnéesCadre temporelExemple de source américaine *
Finances de l'entreprise10 ans
  • Compte de résultat
  • Tableau des flux de trésorerie
  • Bilan
Estimations consensuelles des analystes+3 ans
  • Prévisions financières
  • Objectifs de prix des analystes
Prix du marché30 ans
  • Cours des actions
  • Dividendes, scissions et actions
Propriété10 ans
  • Actionnaires principaux
  • Délits d'initiés
Gestion10 ans
  • L'équipe dirigeante
  • Conseil d'administration
Principaux développements10 ans
  • Annonces de l'entreprise

* Exemple pour les titres américains ; pour les titres non américains, des formulaires réglementaires et des sources équivalentes sont utilisés.

Sauf indication contraire, toutes les données financières sont basées sur une période annuelle mais mises à jour trimestriellement. C'est ce qu'on appelle les données des douze derniers mois (TTM) ou des douze derniers mois (LTM). En savoir plus.

Modèle d'analyse et flocon de neige

Les détails du modèle d’analyse utilisé pour générer ce rapport sont disponibles sur notre page Github ; nous proposons également des guides sur la façon d’utiliser nos rapports et des tutoriels sur YouTube.

Découvrez l'équipe de classe mondiale qui a conçu et construit le modèle d'analyse Simply Wall St.

Indicateurs de l'industrie et du secteur

Nos indicateurs de secteur et de section sont calculés toutes les 6 heures par Simply Wall St. Les détails de notre processus sont disponibles sur Github.

Sources des analystes

Sprague Resources LP est couverte par 5 analystes. de ces analystes ont soumis les estimations de revenus ou de bénéfices utilisées comme données d'entrée dans notre rapport. Les soumissions des analystes sont mises à jour tout au long de la journée.

AnalysteInstitution
Brian ZarahnBarclays
Michael GyureBrean Capital Historical (Janney Montgomery)
Robert BalsamoB. Riley Securities, Inc.