Page 1

Steel Partners Holdings Reports First Quarter Financial Results EXHIBIT 99.1 First Quarter 2021 Highlights • Revenue totaled $ 314.5 million Net income from continuing operations was $ 53.3 million Net income attributable to common unitholders was $ 53.0 million , or $ 1.60 per diluted common unit Adjusted EBITDA * increased to $ 49.8 million from prior year ; Adjusted EBITDA margin * was 15.8 % Net cash provided by operating activities of continuing operations was $ 7.2 million Adjusted free cash flow * totaled $ 5.5 million Total debt at quarter - end was $ 294.6 million ; net debt , * which includes , among other items , pension and preferred unit liabilities , and marketable securities and long term investment assets totaled $ 295.0 million NEW YORK , N.Y. , May 14 , 2021 - Steel Partners Holdings L.P. ( NYSE : SPLP ) , a diversified global holding company , today announced operating results for the first quarter ended March 31 , 2021 . Q1 2020 $ 347,210 Q1 2021 $ 314,493 53,342 ( 36,479 ) 52,951 ( 60,878 ) 49,776 37,717 15.8 % 10.9 % 4,901 5,473 6,994 2,795 ( $ in thousands ) Revenue Net income ( loss ) from continuing operations Net income ( loss ) attributable to common unitholders Adjusted EBITDA * Adjusted EBITDA margin * Purchases of property , plant and equipment Adjusted free cash flow * See reconciliations to the nearest GAAP measure included in the financial tables . See " Note Regarding Use of Non - GAAP Financial Measurements " below for the definition of these non - GAAP measures . " As we head into 2021 , we continue to see increased EBITDA and cash flow from our efforts to reduce costs and increase operational performance despite lower sales volume , " said Executive Chairman Warren Lichtenstein . " Our team is focused on working safely to deliver quality products on time to our customers as we continue to increase unitholder value . " Results of Operations Comparison of the Three Months Ended March 31 , 2021 and 2020 ( unaudited )