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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 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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