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STEEL PARTNERS HOLDINGS L.P. [SPLP-PA], a diversified company operating in the industrial, energy, financial services, and supply chain sectors, has announced its financial results for the 9 months ended September 30, 2023. The company reported a net income of $111.3 million during this period, reflecting a robust performance across its business segments. The annual revenue for the company reached $1.44 billion, indicating steady growth compared to the previous year.
The financial performance of Steel Partners Holdings L.P. has been commendable during the 9 months ended September 30, 2023. The company generated a total revenue of $1.44 billion, driven by strong sales in its diversified industrial, energy, financial services, and supply chain divisions. The total revenue for the diversified industrial segment stood at $918.6 million, while the energy segment contributed $145.2 million. Financial services and supply chain segments reported revenues of $304.6 million and $70.2 million, respectively.
In comparison to the previous year, Steel Partners Holdings L.P. witnessed a slight decline in total revenue. However, this decline can be attributed to the divestment of certain businesses, as evident from the gains on sales of businesses recorded during the period. The company remains focused on optimizing its portfolio through strategic divestitures and acquisitions, which has resulted in a more efficient and profitable business model.
Steel Partners Holdings L.P. maintains a strong financial position with total assets of $3.95 billion as of September 30, 2023. The company's current assets, including cash and cash equivalents, trade and other receivables, loans receivable, and inventories, stood at $2.50 billion. Additionally, the company has long-term assets such as property, plant and equipment, operating lease right-of-use assets, and long-term investments, totaling $1.45 billion. With total liabilities of $3.02 billion, the company has adequate capital to support its operations and future growth initiatives.
In terms of earnings per share (EPS), Steel Partners Holdings L.P. reported a basic EPS of $5.10 and a diluted EPS of $4.68 for the 9 months ended September 30, 2023. These figures indicate a solid financial performance and highlight the company's ability to generate earnings for its common unitholders. The decrease in EPS compared to the previous year can be attributed to the gains on sales of businesses recorded in the previous period.
Looking ahead, Steel Partners Holdings L.P. aims to continue its growth trajectory by focusing on strategic investments and acquisitions within its core sectors. The company remains committed to optimizing its operations and enhancing shareholder value. With a strong balance sheet and a diversified business portfolio, Steel Partners Holdings L.P. is well-positioned to navigate market dynamics and capitalize on emerging opportunities.
Steel Partners Holdings L.P. has reported a strong financial performance for the 9 months ended September 30, 2023, with a net income of $111.3 million. The company's revenue growth has been steady, driven by its diversified industrial, energy, financial services, and supply chain segments. Steel Partners Holdings L.P. remains focused on creating long-term value for its stakeholders and is well-equipped to navigate the evolving business landscape.