Business
Star Group, L.P. Reports Fiscal 2026 Third Quarter Results
Star Group, L.P. Reports Fiscal 2026 Third Quarter
About this update from Star Group L.p.
STAMFORD, Conn., Aug. 05, 2026 (GLOBE NEWSWIRE) -- Star Group, L.P. (the "Company" or "Star") (NYSE:SGU), a home energy distributor and services provider, today filed its quarterly report on Form 10-Q with the SEC and announced financial results for the fiscal 2026 third quarter, the three months ended June 30, 2026.Three Months Ended June 30, 2026 Compared to the Three Months Ended June 30, 2025For the fiscal 2026 third quarter, Star reported a 17.2 percent increase in total revenue to $358.1 million compared with $305.6 million in the prior-year period, reflecting an increase in average selling prices, driven by higher wholesale product cost. The amount of home heating oil and propane sold during the fiscal 2026 third quarter declined by 3.4 million gallons, or 9.4 percent, to 32.8 million gallons, as the additional volume provided from acquisitions and colder temperatures was more than offset by the impact of net customer attrition and other factors. Temperatures in Star's geographic areas of operation for the three months ended June 30, 2026 were 15.9 percent colder than the three months ended June 30, 2025 but 5.9 percent warmer than normal, as reported by the National Oceanic and Atmospheric Administration. Star’s net loss rose by $11.4 million in the quarter, to $28.0 million, primarily due to an unfavorable change in the fair value of derivative instruments of $8.6 million and a $7.1 million increase in Adjusted EBITDA loss, partially offset by a $3.4 million increase in the Company’s income tax benefit and a $0.9 million decrease in depreciation and amortization expenses. The Company reported a third quarter Adjusted EBITDA loss (a non-GAAP measure defined below) of $17.7 million, up $7.1 million year-over-year, as higher home heating oil and propane per gallon margins, an improvement in service and installation profitability and the additional gross profit from other petroleum products were more than offset by higher operating expenses, including $6.2 million in higher insurance-related expenses, and the lower volume of home heating oil and propane sold. “Our results this quarter, a non-heating period, largely reflected seasonal factors and net attrition, which was in line with prior-year periods” said Jeff Woosnam, Star Group’s President and Chief Executive Officer. “While temperatures were moderately colder than last year, the volume of home h...