Worth Watching Stock for Traders: Sprague Resources LP (NYSE: SRLP)

16 / 100 SEO Score

07 May 2020, Sprague Resources LP (NYSE: SRLP) spotted trading -34.00% off 52-week high price. On the other end, the stock has been noted 34.28% away from the low price over the last 52-weeks. The stock changed 1.54% to recent value of $13.2. The stock transacted 31124 shares during most recent day however it has an average volume of 122.86K shares. The company has 22.29M of outstanding shares and 9.15M shares were floated in the market.

Sprague Resources LP (SRLP) recently stated its financial results for the fourth quarter and twelve months ended December 31, 2019.

Fourth Quarter 2019 Highlights

  • Net sales were $999.5M for the fourth quarter of 2019, contrast to $1,079.9M for the fourth quarter of 2018.
  • GAAP net income was $11.8M for the fourth quarter of 2019, contrast to net income of $36.5M for the fourth quarter of 2018.
  • Adjusted gross margin*was $72.5M for the fourth quarter of 2019, contrast to $68.4M for the fourth quarter of 2018.
  • Adjusted EBITDA*was $31.1M for the fourth quarter of 2019, contrast to $29.0M for the fourth quarter of 2018.

Full Year 2019 Highlights

  • Net sales were $3.5B in 2019, contrast to net sales of $3.8B in 2018.
  • GAAP net income was $31.3M in 2019, contrast to net income of $79.8M in 2018.
  • Adjusted gross margin was $267.9M in 2019, contrast to adjusted gross margin of $273.7M in 2018.
  • Adjusted EBITDA was $105.6M in 2019, contrast to adjusted EBITDA of $102.0M in 2018.

“Sprague’s increase in Adjusted EBITDA of 3% over 2018 was partly driven by strong cost discipline in the face of limited market opportunities”, stated David Glendon, President and Chief Executive Officer.

Quarterly Distribution

On January 24, 2020, the Board of Directors of Sprague’s general partner, Sprague Resources GP LLC, reported a cash distribution of $0.6675 per unit for the quarter ended December 31, 2019. The distribution was paid on February 10, 2020 to unitholders of record as of the close of business on February 4, 2020.

Sprague also reported that Sprague Resources Holdings LLC, a wholly owned subsidiary of Axel Johnson Inc. and the owner of Sprague’s General Partner received 121,150 ordinary units representing limited partner interests in Sprague, in lieu of cash, in respect of the incentive distribution rights payable in connection with the distribution for the fourth quarter of 2019.

Its earnings per share (EPS) expected to touch remained -65.20% for this year while earning per share for the next 5-years is expected to reach at # ref. SRLP has a gross margin of 7.80% and an operating margin of 2.20% while its profit margin remained 0.70% for the last 12 months.   According to the most recent quarter its current ratio was 1 that represents company’s ability to meet its current financial obligations. The price moved ahead of -1.04% from the mean of 20 days, 3.37% from mean of 50 days SMA and performed -16.45% from mean of 200 days price. Company’s performance for the week was -10.33%, 1.38% for month and YTD performance remained -21.99%.

Leave a Reply