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.
Star Group, L.P. (NYSE: SGU) is a home energy distributor and services provider focused on home heating products and services for residential and commercial customers. This news page compiles company announcements, financial updates and other disclosures that explain how Star’s home heating oil, propane and related service operations are performing over time.
News coverage for Star Group frequently centers on quarterly and annual financial results, where the company reports changes in total revenue, volumes of home heating oil and propane sold, and the impact of wholesale product costs and weather on its business. These releases often discuss Adjusted EBITDA, net income or loss, and the contribution from recent acquisitions, giving readers insight into how volumes, margins and operating expenses are evolving.
Investors following SGU news will also see distribution declarations on the partnership’s common units, along with updates on any changes to the quarterly distribution rate. In addition, Star regularly announces the scheduling of webcasts and conference calls to review its fiscal first, second, third and fourth quarter results, providing details on when management will discuss performance and answer questions.
Because Star Group operates in the Northeast and Mid-Atlantic U.S. regions and focuses on home heating oil and propane, its news often references weather patterns, customer attrition, acquisitions, and weather hedge contracts. These factors can significantly influence volumes and profitability. By reviewing the items on this news page, readers can track how Star’s home energy distribution and service activities respond to changing temperatures, wholesale cost trends and strategic acquisitions across fiscal periods.
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.
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.
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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