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, 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.
Star Group, L.P. (NYSE:SGU) announced a quarterly distribution of $0.1525 per common unit for the period ending September 30, 2022. The record date for this distribution is set for October 31, 2022, with payments to be made on November 8, 2022.
Star Group is a leading distributor of home heating products and services across the Northeast and Mid-Atlantic regions. The company specializes in home heating oil, propane, and HVAC services, and claims to be the largest retailer of home heating oil by sales volume in the U.S.
Star Group reported a 55.1% increase in total revenue for Q3 fiscal 2022, reaching $439.1 million, driven by higher petroleum prices. Home heating oil and propane volume sold increased by 7.3% to 40.7 million gallons, bolstered by acquisitions. However, the company faced a net loss decrease of $1.5 million to $10.6 million, as Adjusted EBITDA losses rose by $1.2 million, totaling $11.1 million. For the nine months ending June 30, total revenue rose 35.6% to $1.7 billion, but net income fell by $25.7 million to $85.3 million.
Star Group, L.P. (NYSE: SGU) will release its fiscal 2022 third quarter results after trading on August 3, 2022. Management will hold a conference call on August 4, 2022, at 11:00 a.m. ET to review financial performance for the three and nine months ending June 30, 2022. Star Group is a major home energy distributor, specializing in heating products and services. The company claims to be the largest retail distributor of home heating oil in the U.S., serving northeastern and mid-Atlantic states.
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.
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