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) 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.
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.