TSE:SPB

Superior Plus Corp (SPB.TO)

7.85
+0.03 (0.38%)
as of Jun 26, 2026, 8:00:00 pm Market Open.
248 watching
0
Investor Insights
star iconJun 26, 2026, 12:00 am

This summary was created by AI, based on 5 opinions in the last 12 months.

Superior Plus Corp (SPB-T) operates primarily in the propane market, which exhibits considerable volatility largely influenced by weather conditions and seasonal fluctuations. Recent earnings reports have raised concerns, resulting in an 18% drop in share price and suggesting potential management credibility issues. The company’s operations extend into logistics for propane and other fuels across North America, but guidance has shifted from an optimistic 10% growth outlook in the U.S. to a more concerning negative 5%. Although the company has entered the compressed natural gas and renewable natural gas sectors with recent acquisitions, its historical earnings have been erratic, with a decade-long compounded shareholder return of just over 1% and a minimal 0.5% return over 20 years. While the business appears stable and generates consistent income, experts are cautious about its volatility and future growth prospects.

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Consensus
Cautious
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Valuation
Overvalued
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Similar
NGLS
BUY
A high quality diversified trust. Saw explosive growth in the price, but getting more difficult to put together those kinds of acquisitions that will matter, because it is getting large.
TOP PICK
Over the last few years, the company has reinvented itself as a mini conglomerate. Have 2 chemical businesses, a building products division, an energy marketing business. A well managed trust that's raised its distributions pretty much every year. Not cheap at this price, but not too expensive either.
BUY
65% payout ratio. Have diversified in the last couple of years through acquisitions and so should experience quite a bit of growth going forward. Free cash flow in relation to free cash distributions is close to 90% and is lower than what he would like to see but should be able to grow into it with their new acquisitions.
TOP PICK
Very strong management team. Long record of increased distributions and shareprice gains. Diversified in a variety of unrelated businesses but complementary. 72% payout ratio. Not inexpensive.
HOLD
Have become diversified into a few different areas. Continues to like the story, but it is probably pretty fully valued here. Top knotch management.
BUY
Their biggest business is distributing propane. They have also diversified into other areas, such as appliance distribution, chemical distribution which he likes.
BUY
Stunning track record. Good management. Can grow.
HOLD
Used to be a propane distribution business only, but made acquisitions in unrelated business which are generating relatively stable levels of cash flow. Good management. Has had a good run.
BUY
Has raised their distributions for several years. Great management.
BUY ON WEAKNESS
Management has done an extremely good job in growing cash distributions. Have also diversified away from just propane and into propane, pulp chemicals and gyprock and have been able to lock in profit margins. About an 8% yield. Fairly valued.
TOP PICK
(A Top Pick on Nov 17/04. Down 2.7%.) Have raised their distribution every year in the past 8 years. Very strong management team and a good portfolio of businesses should continue to produce value for investors.
BUY ON WEAKNESS
Diverted into chemicals and more recently into building products where they have opportunities to diversify and grow. Still 50% propane. Management has a good track record of integration. A good trust.
SELL
Made a good move into the non-toxic supplies for the pulp business and have since made other acquisitions. If you own, take profits.
DON'T BUY
Feels the company is in transition from a growth story to a more stable yield story. An average trust with stable distribution over the next couple of years. Prefers growth trusts.
HOLD
Has one of the best track records for stable and growing distributions. Management is very good at maintaining profit margins. Valuation is a little expensive. Have a 2 sector perform.
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