Welcome to our dedicated page for Star Group news (Ticker: SGU), a resource for investors and traders seeking the latest updates and insights on Star Group stock.
Overview
Star Group (SGU) is a diversified energy and home services provider that has established itself through a robust and decentralized network of local operations. Operating as a major retail distributor of home heating oil, the company also excels in the sale of air conditioning equipment and provides a comprehensive range of services including home security, plumbing, and appliance repair. These integrated offerings position Star Group as an essential service provider in the energy and home services sectors, catering to both residential and commercial clientele.
Core Business Sectors
The company’s core operations are built around several key business areas:
- Home Heating Products: Specializing in the retail distribution of home heating oil, Star Group has built its reputation as a reliable supplier. The company leverages its extensive network to ensure convenient delivery and service to customers across numerous states.
- Air Conditioning and Cooling: Star Group offers a wide range of air conditioning equipment along with maintenance and installation services, targeting both residential and commercial markets. This part of the portfolio complements its heating business and supports year-round climate control solutions.
- Home Security, Plumbing, and Appliance Services: To create a holistic home comfort package, the company provides additional services including home security installation, plumbing, and appliance-related services, thereby addressing various needs of modern households.
- Diversified Energy Products: In addition to heating oil, Star Group handles other fuels such as propane, diesel fuel, and gasoline, further diversifying its offerings and broadening its market appeal.
Geographical Footprint and Operational Model
Star Group operates across a wide geographical region, serving markets throughout the northeast, mid-Atlantic, and other parts of the United States. The company’s decentralized operational model allows local teams to manage service delivery with agility and responsiveness, which is enhanced by a legacy of family-owned businesses that join the Star Group family through strategic acquisitions. This operational strategy fosters strong local customer relationships and ensures that services are finely tuned to meet specific regional demands.
Market Position and Competitive Landscape
Positioned as a key player in the energy and home services sector, Star Group has distinguished itself through its varied product portfolio and commitment to customer service. Its unique business model centers on leveraging localized operations combined with the strengths of a broad and diversified service offering. This approach helps the company maintain resilience in a competitive market where differentiation is achieved through trusted customer relationships and a consistent quality of service, rather than solely through financial figures.
Strategic Operations and Customer Focus
At the core of Star Group’s operational excellence is a focus on offering a superior customer experience. Through the integration of multiple service lines and a history of organic growth via acquisitions, the company continuously refines its business strategies. This allows them to meet the comprehensive needs of customers, ensuring reliability across energy distribution and home services. Industry-specific expertise is demonstrated in the meticulous management of local operations, providing tailored solutions that support both immediate service needs and long-term customer satisfaction.
Operational Excellence and Brand Diversity
The diverse array of brands under the Star Group umbrella is a testament to its strategic approach towards growth and market presence. Originally rooted in family-owned businesses, the company has grown by maintaining the authenticity and reliability of its legacy while embracing operational efficiencies inherent in a well-coordinated, decentralized network. This blend of heritage and modern operational practices further reinforces Star Group’s authority within its industry, making it a subject of interest for market analysts and investors aiming to understand solid, evergreen business models.
Star Group (NYSE:SGU) reported financial results for Q1 fiscal 2025. Total revenue decreased 7.6% to $488.1 million from $528.1 million in the prior year, mainly due to lower petroleum prices despite increased volume. Home heating oil and propane volume increased by 2.8% to 82.4 million gallons, driven by acquisitions and colder temperatures.
Net income rose by $19.9 million to $32.9 million, benefiting from a $24.3 million favorable change in derivative instruments value and a $2.8 million increase in Adjusted EBITDA. The quarter saw temperatures 4.1% colder than the previous year but 10.5% warmer than normal. Adjusted EBITDA reached $51.9 million, up $2.8 million year-over-year, supported by recent acquisitions and higher per-gallon margins.
Star Group (NYSE: SGU), a leading home energy distributor and services provider, has announced it will release its fiscal 2025 first quarter results after trading hours on February 5, 2025. The company will host a webcast and conference call on February 6, 2025, at 11:00 a.m. Eastern Time to discuss the financial results for the three months ended December 31, 2024. Investors can access the webcast through the company's website at www.stargrouplp.com, while the conference call can be joined via telephone at 888-346-3470 (412-317-5169 for international participants).
Star Group (NYSE:SGU), a home energy distributor and services provider, has announced a quarterly distribution of $0.1725 per common unit for the quarter ending December 31, 2024. The distribution will be paid to unitholders of record as of January 27, 2025, with the payment scheduled for February 5, 2025.
Star Group (NYSE:SGU) has successfully completed the acquisition of a home energy distributor, as announced in their December 2024 agreement. The transaction, valued at approximately $68 million before working capital adjustments, involves a distributor operating within Star's existing footprint.
CEO Jeff Woosnam expressed satisfaction with the acquisition, noting that it brings a well-established home energy distributor under the Star umbrella. The integration is expected to strengthen the company's competitive position across its operational territory. The acquired company's customers and employees will be integrated into the Star Group organization.
Star Group (NYSE:SGU) has announced a definitive agreement to acquire a home energy distributor within its existing operational footprint for approximately $68 million, excluding working capital adjustments. The transaction is expected to close within 45 days, pending governmental reporting requirements compliance. The company's CEO, Jeff Woosnam, stated that the acquisition of this well-established distributor is expected to strengthen Star Group's competitive position and serve as a strategic investment for both the company and its shareholders.
Star Group (NYSE:SGU) reported financial results for Q4 and fiscal year 2024. Q4 total revenue decreased 10% to $240.3 million, with net loss increasing by $15.4 million to $35.1 million. The volume of home heating oil and propane sold declined 1.5% to 18.5 million gallons.
For fiscal 2024, total revenue decreased 9.6% to $1.8 billion, while net income increased by $3.3 million to $35.2 million. The company's Adjusted EBITDA for fiscal 2024 improved by $14.7 million to $111.6 million, driven by higher per-gallon margins and increased service profitability. Customer attrition rate was 4.2%, slightly up year-over-year.
Star Group (NYSE: SGU), a leading home energy distributor and services provider, announced it will release its fiscal 2024 fourth quarter results after market close on December 4, 2024. The company will host a webcast and conference call on December 5, 2024, at 11:00 a.m. Eastern Time to review the three and twelve months ended September 30, 2024. The webcast will be available on the company's website, with conference call access via telephone.
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.
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