Sprague Resources LP

NYSE:SRLP Stok Raporu

Piyasa değeri: 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 Yönetim

Yönetim kriter kontrolleri 2/4

Anahtar bilgiler

Dave Glendon

İcra Kurulu Başkanı

US$1.5m

Toplam tazminat

CEO maaş yüzdesi25.79%
CEO görev süresi11.3yrs
CEO sahipliği0.5%
Yönetim ortalama görev süresi7.5yrs
Yönetim Kurulu ortalama görev süresi1.4yrs

Son yönetim güncellemeleri

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.

CEO Tazminat Analizi

Dave Glendon'un ücretlendirmesi Sprague Resources'un kazancına kıyasla nasıl değişti?
TarihToplam TazminatMaaşŞirket Kazançları
Jun 30 2022n/an/a

-US$99m

Mar 31 2022n/an/a

-US$100m

Dec 31 2021US$1mUS$380k

-US$69m

Sep 30 2021n/an/a

-US$112m

Jun 30 2021n/an/a

US$11m

Mar 31 2021n/an/a

US$30m

Dec 31 2020US$1mUS$381k

US$26m

Sep 30 2020n/an/a

US$35m

Jun 30 2020n/an/a

US$18m

Mar 31 2020n/an/a

US$38m

Dec 31 2019US$898kUS$371k

US$25m

Sep 30 2019n/an/a

US$50m

Jun 30 2019n/an/a

US$39m

Mar 31 2019n/an/a

US$31m

Dec 31 2018US$860kUS$370k

US$72m

Sep 30 2018n/an/a

US$23m

Jun 30 2018n/an/a

US$28m

Mar 31 2018n/an/a

US$35m

Dec 31 2017US$1mUS$364k

US$26m

Sep 30 2017n/an/a

US$38m

Jun 30 2017n/an/a

US$44m

Mar 31 2017n/an/a

US$43m

Dec 31 2016US$1mUS$356k

US$8m

Sep 30 2016n/an/a

US$38m

Jun 30 2016n/an/a

US$56m

Mar 31 2016n/an/a

US$64m

Dec 31 2015US$2mUS$350k

US$78m

Tazminat ve Piyasa: Dave 'nin toplam tazminatı ($USD 1.48M ), US pazarındaki benzer büyüklükteki şirketler için ortalamanın altındadır ($USD 2.43M ).

Tazminat ve Kazançlar: Dave şirketinin tazminatı, şirket kârsız olduğu sürece artırıldı.

CEO

Dave Glendon (56 yo)

11.3yrs
Görev süresi
US$1,475,431
Tazminat

Mr. David C. Glendon, also known as Dave, has been the Chief Executive Officer, Chief Operating Officer since January 01, 2019 and President of Sprague Resources GP LLC, General Partner of Sprague Resource...

Liderlik Ekibi

İsimPozisyonGörev süresiTazminatSahiplik
David Glendon
President11.3yrsUS$1.48m0.47%
$ 2.5m
David Long
CFO & Principal Accounting Officer of Sprague Resources GP LLC3.8yrsUS$587.23k0.11%
$ 601.0k
Ben Hennelly
Chief Information Officer & VP of Sprague Resources GP LLC1.3yrsUS$473.58kVeri yok
Steven Scammon
VP & Chief Risk Officer of Sprague Resources GP LLC11.3yrsUS$602.82k0.15%
$ 778.2k
Brian Weego
Vice President of Natural Gas - Sprague Resources GP LLC11.3yrsUS$621.52kVeri yok
Thomas Carey
Vice President of Operation - Sprague Resources GP LLC2.3yrsVeri yokVeri yok
Paul Scoff
VP, General Counsel11.3yrsVeri yok0.036%
$ 187.6k
Joseph Smith
Vice President of Corporate Development & IT - Sprague Resources GP LLC3.7yrsUS$1.09m0.16%
$ 846.9k
Barbara Arkwell
Managing Director of Human Resources of Sprague Resources GP LLCno dataVeri yokVeri yok
7.5yrs
Ortalama Görev Süresi
58yo
Ortalama Yaş

Deneyimli Yönetim: SRLP 'un yönetim ekibi deneyimli ve deneyimlidir ( 7.5 yıldır).

Yönetim Kurulu Üyeleri

İsimPozisyonGörev süresiTazminatSahiplik
David Glendon
President11.3yrsUS$1.48m0.47%
$ 2.5m
C. Harper
Independent Director of Sprague Resources GP LLC9yrsUS$137.50k0.10%
$ 532.3k
Scott Levy
Director of Sprague Resources GP LLC1.4yrsVeri yok0.19%
$ 982.7k
John Shapiro
Independent Director of Sprague Resources GP LLC1.3yrsUS$117.50k0.011%
$ 55.3k
Beth Bowman
Independent Director of Sprague Resources GP LLC8yrsUS$137.50k0.068%
$ 354.4k
Stephen Semlitz
Director of Sprague Resources GP LLC1.4yrsVeri yokVeri yok
Stephen Hendel
Chairman of Sprague Resources GP LLC1.4yrsVeri yokVeri yok
Jonathan Merison
Director of Sprague Resources GP LLC1.4yrsVeri yokVeri yok
Jason Lemme
Director1.1yrsVeri yokVeri yok
1.4yrs
Ortalama Görev Süresi
62yo
Ortalama Yaş

Deneyimli Yönetim Kurulu: SRLP 'nin yönetim kurulu üyeleri deneyimli olarak kabul edilmiyor ( 1.4 yıllık ortalama görev süresi), bu da yeni bir yönetim kurulu olduğunu gösteriyor.

Şirket Analizi ve Finansal Veri Durumu

VeriSon Güncelleme (UTC saati)
Şirket Analizi2022/11/01 04:23
Gün Sonu Hisse Fiyatı2022/10/31 00:00
Kazançlar2022/06/30
Yıllık Kazançlar2021/12/31

Veri Kaynakları

Şirket analizimizde kullanılan veriler S&P Global Market Intelligence LLC'den alınmıştır. Bu raporu oluşturmak için analiz modelimizde aşağıdaki veriler kullanılmıştır. Veriler normalize edilmiştir, bu da kaynağın mevcut olmasından kaynaklanan bir gecikmeye neden olabilir.

PaketVeriZaman ÇerçevesiÖrnek ABD Kaynağı *
Şirket Finansalları10 yıl
  • Gelir tablosu
  • Nakit akış tablosu
  • Bilanço
Analist Konsensüs Tahminleri+3 yıl
  • Finansal tahminler
  • Analist fiyat hedefleri
Piyasa Fiyatları30 yıl
  • Hisse senedi fiyatları
  • Temettüler, Bölünmeler ve Eylemler
Sahiplik10 yıl
  • En büyük hissedarlar
  • İçeriden öğrenenlerin ticareti
Yönetim10 yıl
  • Liderlik ekibi
  • Yönetim Kurulu
Önemli Gelişmeler10 yıl
  • Şirket duyuruları

* ABD menkul kıymetleri için örnek, ABD dışı için eşdeğer düzenleyici formlar ve kaynaklar kullanılmıştır.

Belirtilmediği sürece tüm finansal veriler yıllık bir döneme dayanmaktadır ancak üç ayda bir güncellenmektedir. Bu, İzleyen On İki Ay (TTM) veya Son On İki Ay (LTM) Verileri olarak bilinir. Daha fazla bilgi edinin.

Analiz Modeli ve Kar Tanesi

Bu raporu oluşturmak için kullanılan analiz modelinin ayrıntılarına Github sayfamızdan ulaşabilirsiniz; ayrıca raporlarımızı nasıl kullanacağınıza dair kılavuzlarımız ve YouTube’da eğitim videolarımız da bulunmaktadır.

Simply Wall St analiz modelini tasarlayan ve oluşturan dünya standartlarındaki ekip hakkında bilgi edinin.

Endüstri ve Sektör Metrikleri

Sektör ve bölüm metriklerimiz Simply Wall St tarafından her 6 saatte bir hesaplanmaktadır, sürecimizin ayrıntıları Github'da mevcuttur.

Analist Kaynakları

Sprague Resources LP 5 Bu analistlerden , raporumuzun girdisi olarak kullanılan gelir veya kazanç tahminlerini sunmuştur. Analistlerin gönderimleri gün boyunca güncellenmektedir.

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