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Sprague Resources LP (SRLP.N)

SRLP.N on New York Stock Exchange

26.70USD
29 Mar 2017
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Latest Key Developments (Source: Significant Developments)

Sprague Resources announces acquisition of two refined product terminals on Long Island
Thursday, 16 Mar 2017 06:00am EDT 

Sprague Resources Lp - : Sprague will pay total consideration of approximately $70 million, plus payments for inventory and other customary items . Sprague Resources Lp announces strategic acquisition of two refined product terminals on Long Island . Carbo transaction is expected to be accretive to distributable cash flow . Carbo transaction is expected to be accretive to distributable cash flow . Consideration is comprised of approximately $30 million of SRLP units to be issued at closing, $10 million in cash paid at closing . Intends to fund transaction with borrowings from its senior secured credit facility .Carbo transaction is expected to generate approximately $8 to $10 million of adjusted EBITDA annually..  Full Article

Sprague Resources LP Q4 loss per unit $0.08
Friday, 10 Mar 2017 06:00am EST 

Sprague Resources LP : Sprague Resources LP reports fourth quarter and full year 2016 results . Q4 sales $766.8 million versus I/B/E/S view $641.4 million .Qtrly loss per unit $0.08.  Full Article

Sprague Resources LP announces cash distribution for the fourth quarter 2016
Friday, 27 Jan 2017 06:00am EST 

Sprague Resources Lp : Sprague Resources LP announces eleventh consecutive increased cash distribution for the fourth quarter of 2016 and earnings conference call schedule . Sprague Resources LP- cash distribution of $0.5775 per unit for quarter ended December 31, 2016 . Sprague Resources LP- Q4 distribution represents a 3% increase over distribution declared for quarter ended September 30, 2016 .Sprague Resources Lp - board of sprague resources gp llc, declared cash distribution of $0.5775 per unit for quarter ended December 31, 2016.  Full Article

Capital Properties to use proceeds from Sprague Resources deal to redeem 5 pct dividend notes
Wednesday, 25 Jan 2017 07:00am EST 

Capital Properties Inc :Capital properties - to use proceeds from petroleum storage terminal, Wilkesbarre Pier sale to Sprague Resources' unit to redeem 5 pct dividend notes due Dec. 26, 2022.  Full Article

Sprague Resources LP announces tenth consecutive increased cash distribution for the third quarter
Friday, 28 Oct 2016 06:00am EDT 

Sprague Resources LP : Sprague Resources LP announces tenth consecutive increased cash distribution for the third quarter of 2016 and earnings conference call schedule .Sprague resources says co has declared a cash distribution of $0.5625 per unit for Q3, a 3% increase over distribution declared for quarter ended June 30.  Full Article

Sprague Resources reports Q2 GAAP loss per share $0.48
Friday, 5 Aug 2016 06:00am EDT 

Sprague Resources LP : Sprague Resources LP reports second quarter 2016 results and extends guidance on distribution growth through 2018 . Q2 GAAP loss per share $0.48 . Q2 sales $477.5 million versus $661.7 million . Q2 revenue view $711 million -- Thomson Reuters I/B/E/S .Continues to expect adjusted EBITDA for full year 2016 to range between $105 and $120 million.  Full Article

Sprague Resources Q1 GAAP earnings per share $1.38
Friday, 6 May 2016 06:10am EDT 

Sprague Resources Lp : Sprague resources lp reports first quarter 2016 results and reconfirms 2016 ebitda guidance of $105 to $120 million . Q1 sales $722.9 million versus $1.6 billion . Q1 gaap earnings per share $1.38 .Q1 earnings per share view $2.17 -- Thomson Reuters I/B/E/S.  Full Article

Sprague Resources LP announces increase in cash distribution
Wednesday, 27 Apr 2016 06:00am EDT 

Sprague Resources LP:Says declared a cash distribution of $0.5325 per unit for quarter ended March 31.First quarter distribution represents a 3% increase over the distribution declared for the quarter ended December 31, 2015.Distribution will be paid May 13, 2016 to unitholders of record as on May 9, 2016.  Full Article

Sprague Resources LP - Lawsuits over New York City heating oil quality are revived - Reuters News
Tuesday, 15 Mar 2016 02:12pm EDT 

Sprague Resources LP:A New York state appeals court on Tuesday revived two lawsuits accusing Hess Corp and Castle Oil Corp of cheating building owners by selling adulterated heating oil - RTRS.The Appellate Division in Manhattan ruled unanimously that a lower court judge erred in dismissing claims that the defendants from 2009 to 2013 blended "waste oil" into the higher-grade heating oil that residential and commercial building owners in and around New York City had contracted to buy.The plaintiffs, who sought class action status on behalf of thousands of building owners in New York City, Westchester County and Long Island, said the blending caused their heating systems to be less efficient, requiring some to buy more oil.Justice David Saxe rejected defense arguments that public policy might encourage the use of adulterated oil as fuel, and that the owners waited too long to pursue some of their claims.He said the plaintiffs can pursue damages claims for breach of contract and breach of warranty "since we must infer from the complaint that plaintiffs received nonconforming oil deliveries of lesser value than those they contracted and paid for.Tuesday's 4-0 decision reversed the September 2014 dismissals of both lawsuits by state Supreme Court Justice Shirley Werner Kornreich in Manhattan. Sprague Resources LP SRLP.N bought Castle assets in December 2014.A lawyer for Castle declined to comment. Hess and its law firm did not immediately respond to requests for comment.  Full Article

Sprague Resources LP increases Q4 cash distribution
Wednesday, 27 Jan 2016 06:00am EST 

Sprague Resources LP:Announces increased cash distribution for the fourth quarter of 2015.Sprague Resources gp ll c, has declared a cash distribution of $0.5175 per unit for the quarter ended December 31, 2015.Q4 distribution represents a 3% increase over the distribution declared for the quarter ended September 30, 2015.  Full Article

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BRIEF-Sprague Resources announces acquisition of two refined product terminals on Long Island

* Sprague will pay total consideration of approximately $70 million, plus payments for inventory and other customary items