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Star Group, L.P. Common Units Representing Limited Partner Interest - SGU STOCK NEWS

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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.

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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.

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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.

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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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Star Group, L.P. (NYSE: SGU), a leading home energy distributor and services provider, has announced its plans to release fiscal 2024 third quarter results. The company will disclose its financial performance for the three months ended June 30, 2024, after the close of trading on July 31, 2024. Star's management team will host a webcast and conference call on August 1, 2024, at 11:00 a.m. Eastern Time to review the quarterly results. Interested parties can access the webcast through the company's website at www.stargrouplp.com. For those preferring to join via phone, the conference call number is 888-346-3470 for domestic callers and 412-317-5169 for international participants.

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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.

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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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Star Group, L.P. (SGU) will host a webcast and conference call on May 2, 2024, to discuss its fiscal 2024 second quarter results. The company will release its results on May 1, 2024, after the market closes. The webcast will be available on the company's website, and the conference call can be accessed via phone.
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Star Group, L.P. (SGU) has raised its quarterly distribution to $0.1725 per common unit from $0.1625 per common unit for the three months ended March 31, 2024. The record date is April 29, 2024, and the payment date is May 8, 2024.
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Star Group, L.P. (SGU) reported a 18.5% decrease in total revenue to $528.1 million for the fiscal 2024 first quarter. The decrease was due to a decline in volume sold and lower selling prices for petroleum products. Despite this, adjusted EBITDA remained virtually unchanged from the prior year's period at $49.0 million. The company's net income decreased by $0.6 million to $13.0 million, primarily due to unfavorable non-cash changes.
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Star Group, L.P. (SGU) will release its fiscal 2024 first quarter results on February 7, 2024, followed by a webcast and conference call on February 8, 2024. The webcast will be accessible on the company’s website, and the telephone number for the conference call is 888-346-3470 (412-317-5169 for international callers).
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FAQ

What is the current stock price of Star Group, L.P. Common Units Representing Partner Interest (SGU)?

The current stock price of Star Group, L.P. Common Units Representing Partner Interest (SGU) is $11.585 as of November 8, 2024.

What is the market cap of Star Group, L.P. Common Units Representing Partner Interest (SGU)?

The market cap of Star Group, L.P. Common Units Representing Partner Interest (SGU) is approximately 413.5M.

What services does Star Group, L.P. provide?

Star Group offers home heating products, air conditioning equipment, home security, plumbing, and appliance services.

In which regions does Star Group operate?

Star Group operates in 19 states and the District of Columbia, primarily serving the Northeast and Mid-Atlantic regions.

What products does Star Group sell?

Star Group sells home heating oil, propane, diesel fuel, gasoline, and air conditioning equipment.

Is Star Group a publicly traded company?

Yes, Star Group is publicly traded on the New York Stock Exchange under the symbol 'SGU'.

How has Star Group expanded its business?

Star Group has grown through strategic acquisitions of family-owned businesses and expanding its propane operations.

What is Star Group's approach to customer service?

Star Group focuses on delivering superior customer experiences through its decentralized network of local operations.

What types of customers does Star Group serve?

Star Group serves both residential and commercial customers with its range of home heating, air conditioning, and home services.

How can I contact Star Group for investor relations?

You can contact Star Group’s Investor Relations at 203/328-7310 or Chris Witty at Darrow Associates at 646/438-9385 or cwitty@darrowir.com.

What makes Star Group a leading energy provider?

Star Group’s extensive product offerings, strategic growth, and commitment to customer service make it a leading energy provider in the U.S.

What recent developments have there been at Star Group?

Star Group continues to expand its propane business and maintain high standards of service, contributing to its growth and success in the energy sector.

Star Group, L.P. Common Units Representing Limited Partner Interest

NYSE:SGU

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413.51M
34.66M
14.64%
45.04%
0.21%
Oil & Gas Refining & Marketing
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