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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) has announced an increase in its quarterly distribution for the three months ending March 31, 2023, raising it to $0.1625 per common unit from $0.1525. This decision reflects the company's ongoing commitment to returning value to its unit holders. The record date for this distribution is set for April 24, 2023, with a payment date of May 2, 2023. As a leading provider of home heating products and services, Star Group specializes in serving customers across the Northeast and Mid-Atlantic regions of the U.S. The company faces several risks, including geopolitical tensions, inflation, and regulatory challenges. Overall, this increase in distribution signals a positive outlook for shareholders.
Star Group, L.P. (NYSE:SGU) announced the adoption of a Unitholder Rights Plan to safeguard the interests of unitholders against potential hostile takeovers. The plan allows for the distribution of unit purchase rights to all outstanding Common and General Partner Units as of April 4, 2023. These rights will initially trade with the Common Units but become exercisable if any entity acquires 15% or more of the units without Board approval. The rights expire on March 24, 2028. Importantly, the plan does not respond to any specific takeover bid and will not affect the financial condition or trading of the Common Units.
Star Group, L.P. (NYSE:SGU) reported a 32.8% increase in total revenue for Q1 fiscal 2023, reaching $648.2 million compared to $488.3 million a year earlier, driven by higher selling prices and a 2.5% increase in the volume of home heating oil and propane sold. Despite colder temperatures impacting sales, net income decreased by $1.0 million to $13.5 million, largely due to a $4.2 million unfavorable change in derivative instruments and increased interest expenses. Adjusted EBITDA grew by $4.6 million to $49.1 million, underscoring improved margins. The company also noted a 1.7% rise in net customers, marking its best performance in years.
Star Group, L.P. (NYSE: SGU) announced the release of its fiscal 2023 first-quarter results on February 1, 2023, after trading hours. The management will host a conference call on February 2, 2023, at 11:00 a.m. ET to discuss the results for the period ending December 31, 2022. Star Group is a leading home energy distributor specializing in heating products and services for residential and commercial customers. The company claims to be the largest retailer of home heating oil in the U.S. based on sales volume. Investors can access the webcast on the company's website.
Star Group, L.P. (NYSE: SGU) announced a quarterly distribution of $0.1525 per common unit for the period ending December 31, 2022. The record date for this distribution is set for January 23, 2023, with payments scheduled on January 31, 2023.
The company specializes in providing home heating products and services, positioning itself as the largest distributor of home heating oil in the U.S. The press release also outlines risks and uncertainties regarding future performance, linked notably to geopolitical events and economic conditions.
Star Group, L.P. (SGU) reported a 25.4% increase in fourth-quarter revenue for fiscal 2022, totaling $296.6 million, driven by higher selling prices despite a 7.0% decline in product demand. The company faced a net loss of $50.0 million, largely due to unfavorable derivative changes. For the fiscal year, total revenue rose 34.0% to $2.0 billion, but net income fell to $35.3 million, amid decreased heating oil volume and increased operating expenses. Adjusted EBITDA dropped 15.5% to $110.3 million, impacted by higher costs and lower sales volume.
Star Group, L.P. (NYSE: SGU) will release its fiscal 2022 fourth quarter results on December 7, 2022, after trading hours. A conference call will follow on December 8 at 11:00 a.m. ET, where management will discuss performance for the three and twelve months ending September 30, 2022. Star Group specializes in home heating products and services, claiming to be the largest retail distributor of home heating oil in the U.S. Further details can be found on their website.
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