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Star Group, L.P. (SGU) is a premier energy and home services provider, specializing in the sale of home heating products and services to both residential and commercial customers. The company’s extensive range of offerings includes home heating oil, air conditioning equipment, and a variety of home services such as security, plumbing, and appliance maintenance. As the nation’s largest retail distributor of home heating oil by sales volume, Star Group operates primarily in the Northeast and Mid-Atlantic regions of the United States. In recent years, the company has significantly expanded its propane business, further diversifying its energy portfolio.
Operating in 19 states and the District of Columbia, Star Group leverages a decentralized network of local operations to deliver superior customer experiences. Many of these local operations began as family-owned businesses and were integrated into the Star Group family through strategic acquisitions. This diverse collection of brands enables the company to maintain a strong, community-focused presence while benefiting from the resources and expertise of a large, publicly-traded organization.
Listed on the New York Stock Exchange under the symbol SGU, Star Group continues to prioritize growth and customer satisfaction. Through its commitment to innovation and service excellence, the company has earned a reputation as a reliable and trusted provider of energy and home services.
In addition to its core business, Star Group offers diesel fuel and gasoline sales, enhancing its product lineup and catering to a broader range of energy needs. With a strategic focus on expanding its market reach and maintaining high standards of service, Star Group is well-positioned for continued success and growth in the competitive energy sector.
Star Group, L.P. (NYSE:SGU), a home energy distributor and services provider, has announced a quarterly distribution of $0.1725 per common unit for the three months ended September 30, 2024. The distribution details are as follows:
- Record date: October 28, 2024
- Payment date: November 6, 2024
This announcement reflects Star Group's commitment to providing regular returns to its unitholders. The distribution amount remains consistent, indicating stability in the company's financial performance and its ability to maintain shareholder value.
Star Group, L.P. (NYSE:SGU), a home energy distributor and services provider, has announced a new seventh amended and restated asset-based credit facility. The Credit Facility, expiring in September 2029, allows the Company's subsidiary to borrow up to $400 million ($475 million during the heating season from December through April) on a revolving line of credit for working capital purposes. This includes the issuance of up to $25 million in letters of credit.
Additionally, the Credit Facility provides for a $210 million five-year senior secured term loan. The term loan proceeds will be used to repay existing outstanding debt of $132.1 million, with the remaining $77.9 million available for certain identified acquisitions and general corporate purposes.
Star Group, L.P. (NYSE:SGU) reported financial results for its fiscal 2024 third quarter ended June 30, 2024. Total revenue increased by 10.5% to $331.6 million, driven by higher volumes sold and increased selling prices for petroleum products. The volume of home heating oil and propane sold rose by 25.3% to 37.7 million gallons. Net loss decreased by $12.9 million to $11.0 million. The company reported an Adjusted EBITDA loss of $4.1 million, compared to a $22.9 million loss in the prior-year period.
For the nine months ended June 30, 2024, Star reported a 9.5% decrease in total revenue to $1.5 billion. Net income increased by $18.6 million to $70.3 million. Year-to-date Adjusted EBITDA increased by $13.0 million to $141.3 million. The company also announced plans to acquire a fuel oil dealer for approximately $35 million, expected to close in the fourth quarter.
Star Group, L.P. (NYSE: SGU), a leading home energy distributor and services provider, has announced its plans to release fiscal 2024 third quarter results. The company will disclose its financial performance for the three months ended June 30, 2024, after the close of trading on July 31, 2024. Star's management team will host a webcast and conference call on August 1, 2024, at 11:00 a.m. Eastern Time to review the quarterly results. Interested parties can access the webcast through the company's website at www.stargrouplp.com. For those preferring to join via phone, the conference call number is 888-346-3470 for domestic callers and 412-317-5169 for international participants.
Star Group, L.P. (NYSE:SGU), a home energy distributor and services provider, has announced a quarterly distribution of $0.1725 per common unit for the three months ended June 30, 2024. This distribution will be paid to unitholders of record as of July 29, 2024, with the payment date set for August 7, 2024. The announcement demonstrates Star Group's commitment to providing regular returns to its investors, maintaining its dividend policy in the current economic environment.
Star Group, L.P. reported a 9.7% decrease in revenue for the fiscal 2024 Q2 due to lower volume and selling prices. Net income increased by $6.3 million, with Adjusted EBITDA at $96.3 million. The company's net income rose by $5.8 million for the first six months of fiscal 2024 despite a 13.8% revenue decrease.
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