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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. (SGU) has declared a quarterly distribution of $0.1525 per common unit for the three months ending June 30, 2022. The record date for this distribution is July 25, 2022, with the payment date set for August 2, 2022. Star Group specializes in home heating products and services, serving both residential and commercial customers primarily in the Northeastern and Mid-Atlantic U.S. regions. The company claims to be the largest retail distributor of home heating oil in the nation by sales volume.
Star Group, L.P. (NYSE:SGU) announced the establishment of a sixth amended and restated asset-based credit facility, valid until July 2027. This facility permits borrowing up to $400 million (or $550 million during heating season) on a revolving line of credit for working capital, including provisions for $25 million in letters of credit. Additionally, a $165 million five-year senior secured term loan will be utilized to repay existing debt. The bank syndicate supporting this facility includes major banks like JPMorgan Chase and Bank of America.
Star Group, L.P. (SGU) reported a 29.5% increase in Q2 revenue to $782.5 million, driven by higher selling prices amid rising wholesale costs, despite an 8.7 million gallons decrease in volume sold. Net income fell by $3.8 million to $81.4 million, primarily due to a $12.0 million drop in Adjusted EBITDA to $107.7 million. Operating expenses rose 5.8% to $112.3 million, affected by acquisition costs and increased credit card fees. Star's management emphasized the challenges posed by volatile wholesale oil costs and rising working capital needs.
Star Group, L.P. (SGU), a prominent home energy distributor, will announce its fiscal 2022 Q2 results on May 4, 2022, post-market. A conference call is scheduled for May 5, 2022, at 11:00 AM ET for a detailed review of the quarter ending March 31, 2022. The company specializes in home heating products and services and claims to be the largest retail distributor of home heating oil based on sales volume. Investors can access information via Star’s website or SEC filings.
Star Group, L.P. (NYSE: SGU) announced a quarterly distribution increase to $0.1525 per common unit for Q1 2022, up from $0.1425. The record date for this distribution is April 25, 2022, and the payment date is set for May 3, 2022. Star Group is a leading home energy distributor, specializing in heating oil and propane services in the Northeast and Mid-Atlantic regions. The company also provides plumbing services and sells gasoline and diesel fuel. Potential risks include impacts from COVID-19 and fluctuations in supply and demand for their products.
Star Group, L.P. (SGU) reported a 30.8% increase in total revenue for Q1 fiscal 2022, reaching $488.3 million, up from $373.3 million in Q1 2021. This growth was primarily due to higher selling prices, despite a 2.8% decrease in volume sold. Net income fell to $14.5 million, a decline of $23.4 million, largely driven by a $30.8 million unfavorable change in derivative instruments. Adjusted EBITDA also decreased by 1.9% to $44.5 million. The company experienced warmer weather impacting demand but retained strong margin management and customer retention.
Star Group, L.P. (NYSE: SGU) will release its fiscal 2022 first quarter results on February 2, 2022, after market close. A conference call and webcast will follow on February 3, 2022, at 11:00 a.m. Eastern Time to discuss the performance for the three months ended December 31, 2021. Star Group specializes in home heating products and services, including oil and propane distribution, and is a leading distributor based on sales volume in the Northeast and Mid-Atlantic U.S. regions.
Star Group, L.P. (NYSE:SGU) announced a quarterly distribution of $0.1425 per common unit for the period ending December 31, 2021. The record date for this distribution is January 24, 2022, with a payment date set for February 1, 2022. Star Group is a leading home energy distributor, primarily providing heating oil and propane services to residential and commercial customers in the Northeast and Mid-Atlantic regions. The company emphasizes its significant market presence in home heating oil distribution.
Star Group reported a 29.1% increase in Q4 2021 revenue to $236.6 million, driven by higher selling prices and a 9.7% rise in home heating oil and propane sales.
Despite a net loss of $23.2 million, the company's net loss improved thanks to a $6.6 million favorable change in derivatives. For the full fiscal year, total revenue rose by 2.0% to $1.5 billion, though home heating oil and propane volumes dropped 2.4%. Net income rose to $87.7 million due to favorable derivatives, despite a dip in Adjusted EBITDA to $127.5 million.
Star Group, L.P. (NYSE: SGU) will release its fiscal 2021 fourth-quarter results on December 8, 2021. A conference call is scheduled for December 9, 2021, at 11:00 a.m. ET, where management will discuss the financial performance for the three and twelve months ended September 30, 2021. Star Group specializes in home heating products and services, serving residential and commercial customers. The company claims to be the largest retail distributor of home heating oil in the U.S., with a focus on northeastern and eastern states.
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