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Star Group, L.P. reported fiscal third‑quarter 2026 results for the three months ended June 30, 2026. Revenue rose 17.2 percent to $358.1 million, driven by higher selling prices, while home heating oil and propane volumes fell 9.4 percent to 32.8 million gallons despite colder weather. The quarter produced a wider net loss of $28.0 million, mainly from an unfavorable change in derivative fair values and higher operating expenses, which lifted the Adjusted EBITDA loss to $17.7 million.
For the first nine months of fiscal 2026, revenue increased 8.3 percent to $1.7 billion, with heating fuel volumes up 3.3 percent to 271.2 million gallons as temperatures were colder than both last year and normal. Net income improved to $116.1 million and Adjusted EBITDA to $189.3 million, supported by stronger margins and contributions from acquisitions. Operating cash flow was $118.3 million in the quarter and $57.2 million year‑to‑date, while total assets reached $1.01 billion and long‑term debt stood at $151.6 million as of June 30, 2026.
Star Group, L.P., a home heating oil and propane distributor, reported nine‑month 2026 total sales of $1,664,042 thousand, up from $1,536,726 thousand a year earlier. Net income rose to $116,084 thousand from $102,166 thousand, and basic and diluted income per limited partner unit was $2.90.
For the seasonally weak quarter ended June 30, 2026, total sales were $358,071 thousand and the net loss widened to $(27,989) thousand from $(16,629) thousand. Cash from operating activities for the nine months was $57,203 thousand; cash, cash equivalents and restricted cash totaled $27,253 thousand, and availability under the revolving credit facility was $229.9 million with no revolver borrowings and a term loan balance of $172,569 thousand.
Management highlights sharp wholesale fuel price volatility following military events in early 2026, which increased hedging costs and seasonal working capital needs and could slow receivable collections and raise interest expense. The company reported net loss of 11,000 home heating oil and propane accounts over the first nine months, or 2.7% of its base, an improvement versus the prior‑year period, and declared a quarterly distribution of $0.1975 per unit in July 2026.
Star Group, L.P. reported that, effective August 1, 2026, the Board of Directors of Kestrel Heat, LLC, its general partner, approved a base salary increase for President and Chief Executive Officer Jeffrey M. Woosnam from $531,742 to $750,000 per year.
The Board, acting in its capacity overseeing executive compensation, approved this change in executive session without Mr. Woosnam’s presence or participation. The increase is described as aligning his compensation with market-competitive levels and reflecting his continued leadership and performance in executing the partnership’s strategic objectives.
Star Group, L.P. declared a quarterly distribution of $0.1975 per common unit for the three months ended June 30, 2026. Holders of common units of record on July 27, 2026 are scheduled to receive the distribution on August 5, 2026.
Star Group is a home energy distributor focused on heating products and related services, and believes it is the nation’s largest retail distributor of home heating oil based on sales volume.
Star Group, L.P. reported stronger results for its fiscal second quarter ended March 31, 2026, helped by colder weather and acquisitions. Revenue rose 3.2% to $766.7 million and net income increased to $108.3 million from $85.9 million, supported by higher heating oil and propane volumes and improved margins.
Adjusted EBITDA grew to $138.7 million from $128.2 million, driven by base business improvement, contributions from recent acquisitions, and lower weather hedge expense. For the first six months of fiscal 2026, revenue reached $1.3 billion and net income was $144.1 million, both higher than the prior-year period.
Star Group, L.P. reported stronger results for the quarter and six months ended March 31, 2026, helped by colder weather and higher fuel prices. Quarterly net income rose to $108.3 million from $85.9 million, while six‑month net income increased to $144.1 million from $118.8 million. Total sales for the six months grew to $1.31 billion from $1.23 billion, driven mainly by higher home heating oil and propane revenue.
Retail heating oil and propane volume in the quarter edged up to 144.5 million gallons, as temperatures were 6.4% colder than a year earlier. Adjusted EBITDA for the six months improved to $207.0 million from $180.0 million, despite a sizeable non‑cash loss from derivative mark‑to‑market.
Cash flow from operations was negative $61.1 million for the six months, reflecting higher receivables, inventories and hedging collateral amid sharp product cost volatility linked to geopolitical events. Star drew $87.4 million on its revolving credit facility and ended the period with $265.2 million of total debt and $12.4 million of cash, while maintaining covenant compliance and continuing unit repurchases and cash distributions.
Star Group, L.P. declared a higher quarterly cash distribution for the fiscal second quarter ended March 31, 2026. The distribution was increased to $0.1975 per common unit from $0.1850, which adds up to $0.79 per unit annually, or $0.05 more than before. The company notes this is its 14th consecutive year of raising its dividend, highlighting a long-running pattern of returning cash to unitholders. The distribution has a record date of April 27, 2026 and will be paid on May 6, 2026.
Star Group, L.P. disclosed that the Board of Directors of its general partner has increased the number of Common Units the company is authorized to repurchase in open market transactions to a total of 2.0 million. The expanded authorization becomes effective on February 24, 2026.
The company states there is no guarantee of the exact number of units that will be repurchased, and it may discontinue purchases at any time. The repurchase program has no time limit, and all Common Units bought under the program will be retired, with activity conducted in line with SEC safe harbor rules for issuer repurchases.
Star Group, L.P. furnished a Form 8-K after issuing a press release on February 4, 2026 announcing its financial results for the fiscal first quarter ended December 31, 2025. The press release is provided as Exhibit 99.1 and the information is treated as furnished, not filed, under securities laws. Star Group’s common units trade on the New York Stock Exchange under the symbol SGU.
Star Group, L.P. reported a stronger fiscal first quarter, helped by colder weather and higher fuel margins. Total sales rose to $539.3 million from $488.1 million as home heating oil and propane volume increased 13.9% to 93.9 million gallons.
Product gross profit grew to $179.5 million, up 19.0%, with home heating oil and propane margin expanding to $1.8010 per gallon from $1.7039. Adjusted EBITDA increased to $68.4 million from $51.9 million, while net income rose to $35.8 million from $32.9 million.
Basic and diluted income per Limited Partner unit was $0.89, compared with $0.79 a year earlier, even after a $5.0 million weather hedge contract expense and higher delivery, branch, and service costs tied to colder temperatures and recent acquisitions.