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Steel Partners Holdings L P's Business Segments
Steel Partners Holdings L P's reported revenue by business segment and by geographic region, quarterly and annual, normalized against the consolidated income statement. Free below: the top 3 rows per table, this quarter and this fiscal year. Subscriber access adds the full segment history and operating income by segment.
Reportable Segments
4
Largest Segment
Diversified Industrial
Total Revenue
$ 2,028
Regions Reported
1
Annual Results
Revenue Share by Reportable Segment - FY2024
- Diversified Industrial61.3%
- Financial Services22.4%
- Supply Chain9.2%
- Energy7.2%
Revenue by Reportable Segment - FY2024
| Segment | Revenue (Millions) | % of Total |
|---|---|---|
| Diversified Industrial | $ 1,243 | 61.3% |
| Financial Services | $ 454 | 22.4% |
| Supply Chain | $ 186 | 9.2% |
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Revenue Share by Region - FY2024
- Geographic Distribution, Foreign10.6%
Revenue by Geographic Region - FY2024
| Region | Revenue (Millions) | % of Total |
|---|---|---|
| Geographic Distribution, Foreign | $ 216 | 10.6% |
Revenue by Product & Service Category - FY2024
- Diversified Industrial61.3%
- Financial Service22.4%
- Supply Chain9.2%
- Energy Service7.2%
- Management Fee2.8%
Revenue by Product & Service Category - FY2024
| Category | Revenue (Millions) | % of Total |
|---|---|---|
| Diversified Industrial | $ 1,243 | 61.3% |
| Financial Service | $ 454 | 22.4% |
| Supply Chain | $ 186 | 9.2% |
Product and service categories are a supplemental disclosure and are not required to sum to consolidated revenue or to the reportable segments above.
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Description of Steel Partners Holdings L P
Steel Partners Holdings L.P. is a global diversified holding company that engages
in multiple businesses through consolidated subsidiaries, associated companies
and other interests. It owns and operates businesses, and has significant investments
in companies, in various industries, including diversified industrial products,
energy, defense, supply chain management and logistics, banking, and youth sports.
Each of our companies has its own management team with significant experience in their industries. Our subsidiary, SP Corporate Services LLC (“SP Corporate”), through Management Services Agreements, provides services to us and some of our companies which include assignment of C-Level management personnel, as well as a variety of services including legal, tax, accounting, treasury, consulting, auditing, administrative, compliance, environmental health and safety, human resources, marketing, investor relations and other similar services.
Each of our companies has its own management team with significant experience in their industries. Our subsidiary, SP Corporate Services LLC (“SP Corporate”), through Management Services Agreements, provides services to us and some of our companies which include assignment of C-Level management personnel, as well as a variety of services including legal, tax, accounting, treasury, consulting, auditing, administrative, compliance, environmental health and safety, human resources, marketing, investor relations and other similar services.
Steel Partners Holdings L.P. operates through several distinct segments, primarily focusing on energy, financial services, and investments. Below, a detailed breakdown of its segments, products, and services is provided, along with insights into its international operations.
Energy Segment
Steel Partners Energy segment is primarily conducted under Steel Excel and its subsidiary, Steel Energy Ltd. This segment is involved in the oil and gas industry, offering a variety of drilling and production services. Steel Energy is responsible for providing comprehensive services that support the exploration and extraction of oil and gas resources. The focus here includes:
- Drilling Services: Steel Energy engages in drilling operations, providing advanced technology and expertise to ensure efficient and safe drilling activities.
- Production Services: This includes the management and optimization of production facilities to enhance the output from existing wells.
Sports Segment
Another notable aspect of Steel Excels operations is through its wholly-owned subsidiary, Steel Sports Inc. This subsidiary operates as a social impact organization dedicated to fostering youth sports. The emphasis is on providing:
- Youth Sports Programs: Offering structured programs that promote positive experiences in athletics for children and adolescents.
- Core Values Education: The sports programs emphasize the instillation of values such as discipline, teamwork, safety, respect, and integrity among participants.
- Community Engagement: By organizing local sports events and activities, Steel Sports aims to engage communities and promote healthy lifestyles.
Financial Services Segment
The Financial Services segment includes Steel Partners’ subsidiary, WFHC, which operates through its wholly-owned subsidiary, WebBank. WebBank is a Utah-chartered industrial bank that plays a significant role in the segments offerings:
- Deposit Services: Although WebBank operates under the regulations of the Federal Deposit Insurance Corporation (FDIC) and the State of Utah Department of Financial Institutions, it is not classified as a traditional bank for Bank Holding Company Act purposes. Its deposits are insured by the FDIC.
- Financial Products: WebBank provides various financial products, including consumer and commercial loans, credit card services, and other banking products.
- Regulatory Compliance: WebBank’s operations are subject to comprehensive regulatory oversight, which helps ensure the safety and soundness of its financial practices.
Investment Activities
In addition to its core business operations, Steel Partners engages in investment activities across various sectors:
- Non-controlling Investments: Steel Partners strategically invests in entities aligned with its existing business model as well as in unrelated industries, identifying opportunities that promise growth and profitability.
- Acquisition Opportunities: The company actively seeks acquisition opportunities to expand its portfolio and enhance its service offerings across its business segments.
International Operations
Steel Partners Holdings has expanded its footprint beyond the United States. The company’s international operations focus primarily on sectors relevant to its existing lines of business, especially in energy and financial services. Internationally, Steel Partners is involved in:
- Global Energy Services: Collaboration with foreign entities to provide energy sector services, tapping into international markets for oil and gas exploration.
- Financial Services: Exploring cross-border financial products through WebBank and potentially partnering with international banking institutions.
- Investment Opportunities: Identifying and evaluating global investment opportunities that align with their strategic focus on growth and diversification.
Conclusion
Steel Partners Holdings L.P. operates a multifaceted business model, with distinct segments focusing on energy services, financial services, and social impact through sports. The company is engaged in significant domestic and international operations, culminating in a diversified approach that leverages its capabilities in various industries. The strategic emphasis on investment and acquisition opportunities reflects Steel Partners’ commitment to sustained growth and adaptability in a dynamic market landscape.
Energy Segment
Steel Partners Energy segment is primarily conducted under Steel Excel and its subsidiary, Steel Energy Ltd. This segment is involved in the oil and gas industry, offering a variety of drilling and production services. Steel Energy is responsible for providing comprehensive services that support the exploration and extraction of oil and gas resources. The focus here includes:
- Drilling Services: Steel Energy engages in drilling operations, providing advanced technology and expertise to ensure efficient and safe drilling activities.
- Production Services: This includes the management and optimization of production facilities to enhance the output from existing wells.
Sports Segment
Another notable aspect of Steel Excels operations is through its wholly-owned subsidiary, Steel Sports Inc. This subsidiary operates as a social impact organization dedicated to fostering youth sports. The emphasis is on providing:
- Youth Sports Programs: Offering structured programs that promote positive experiences in athletics for children and adolescents.
- Core Values Education: The sports programs emphasize the instillation of values such as discipline, teamwork, safety, respect, and integrity among participants.
- Community Engagement: By organizing local sports events and activities, Steel Sports aims to engage communities and promote healthy lifestyles.
Financial Services Segment
The Financial Services segment includes Steel Partners’ subsidiary, WFHC, which operates through its wholly-owned subsidiary, WebBank. WebBank is a Utah-chartered industrial bank that plays a significant role in the segments offerings:
- Deposit Services: Although WebBank operates under the regulations of the Federal Deposit Insurance Corporation (FDIC) and the State of Utah Department of Financial Institutions, it is not classified as a traditional bank for Bank Holding Company Act purposes. Its deposits are insured by the FDIC.
- Financial Products: WebBank provides various financial products, including consumer and commercial loans, credit card services, and other banking products.
- Regulatory Compliance: WebBank’s operations are subject to comprehensive regulatory oversight, which helps ensure the safety and soundness of its financial practices.
Investment Activities
In addition to its core business operations, Steel Partners engages in investment activities across various sectors:
- Non-controlling Investments: Steel Partners strategically invests in entities aligned with its existing business model as well as in unrelated industries, identifying opportunities that promise growth and profitability.
- Acquisition Opportunities: The company actively seeks acquisition opportunities to expand its portfolio and enhance its service offerings across its business segments.
International Operations
Steel Partners Holdings has expanded its footprint beyond the United States. The company’s international operations focus primarily on sectors relevant to its existing lines of business, especially in energy and financial services. Internationally, Steel Partners is involved in:
- Global Energy Services: Collaboration with foreign entities to provide energy sector services, tapping into international markets for oil and gas exploration.
- Financial Services: Exploring cross-border financial products through WebBank and potentially partnering with international banking institutions.
- Investment Opportunities: Identifying and evaluating global investment opportunities that align with their strategic focus on growth and diversification.
Conclusion
Steel Partners Holdings L.P. operates a multifaceted business model, with distinct segments focusing on energy services, financial services, and social impact through sports. The company is engaged in significant domestic and international operations, culminating in a diversified approach that leverages its capabilities in various industries. The strategic emphasis on investment and acquisition opportunities reflects Steel Partners’ commitment to sustained growth and adaptability in a dynamic market landscape.