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. operates as a home energy distributor and services provider serving residential and commercial customers in the Northeast and Mid-Atlantic regions of the United States. Its updates center on home heating oil and propane volumes, heating-related services, HVAC equipment sales and service, and delivery-only sales of diesel, gasoline and home heating oil.
Recurring news for SGU includes fiscal quarterly and annual results, weather effects on heating demand, acquisition-related volume changes, customer attrition, service and installation revenue, derivative-value effects, conference calls, common-unit distributions and other capital-allocation actions.
Star Group, L.P. (NYSE:SGU) announced financial results for Q2 2020, reporting a 22.4% decline in total revenue to $543.1 million due to lower volumes and selling prices. Despite this, net income decreased by 19.2% to $58.4 million, impacted by a $25.1 million unfavorable change in derivative fair value. Adjusted EBITDA increased by 7.5% to $106.9 million. Over six months, revenue fell 14.8% to $1.1 billion, while net income rose by 15.4% to $86.2 million, primarily due to favorable derivative changes.
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