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Star Group, L.P.

Star Group, L.P.

NYSE•SGU
CEO: Mr. Jeffrey M. Woosnam
Sector: Energy
Industry: Oil & Gas Refining & Marketing
Listing Date: 1995-12-15
Star Group, L.P., together with its subsidiaries, provides home heating oil and propane products and services to residential and commercial customers in the United States. It offers gasoline and diesel fuel; and installs, maintain, and repairs heating and air conditioning equipment. As of September 30, 2023, the company served approximately 402,200 full service residential and commercial home heating oil and propane customers and 52,400 customers on a delivery only basis. It also sells gasoline and diesel fuel to approximately 26,600 customers. The company was formerly known as Star Gas Partners, L.P. and changed its name to Star Group, L.P. in October 2017. Star Group, L.P. was incorporated in 1995 and is based in Stamford, Connecticut.
Contact Information
9 West Broad Street, Suite 310, Stamford, CT, 06902, United States
203-328-7310
www.stargrouplp.com
Market Cap
$403.96M
P/E (TTM)
7.8
28
Dividend Yield
5.9%
52W High
$13.75
52W Low
$11.11
52W Range
43%
Rank21Top 7.6%
6.0
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Strong • 6 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2016-2025

Financial Dashboard

Q4 2025 Data

Revenue

$247.69M+3.06%
4-Quarter Trend

EPS

-$0.85-46.54%
4-Quarter Trend

FCF

$14.41M-59.49%
4-Quarter Trend

2025 Annual Earnings Highlights

Key Highlights

Net Income Jumps 108.7% Net income reached $73.5M USD, a substantial increase of 108.7% compared to $35.2M USD reported in the prior year.
Adjusted EBITDA Grows 22.2% Adjusted EBITDA increased to $136.4M USD, reflecting 22.2% growth driven by base business margin improvements and acquisitions.
Product Volume Rises 11.5% Heating oil/propane volume sold increased 29.2M gallons, up 11.5% to 282.6M gallons, aided by colder temperatures during the season.
Product Gross Profit Up 12.2% Total product gross profit totaled $525.2M USD, marking a $57.2M increase, driven by better per-gallon margins and higher volume.

Risk Factors

Wholesale Price Volatility Risk Fluctuations in wholesale product costs directly impact profitability, potentially reducing margins if cost increases cannot be immediately passed on.
Customer Attrition Worsens Net customer attrition increased to (4.7)% in FY2025 from (4.2)% in FY2024, driven by competition and conversions to alternative energy sources.
Regulatory Climate Change Impact State and local legislation restricting GHG emissions from fossil fuels may negatively impact operations and increase compliance reporting costs.
Hedging Liquidity Exposure Mark-to-market changes on commodity derivatives cause earnings volatility and impact liquidity due to daily margin requirements on futures contracts.

Outlook

Pursue Select Acquisitions Strategy Management expertise focused on acquiring home heating oil and propane companies within and outside current operational footprint to drive growth.
Enhance Customer Service Focus Dedicated resources for training employees to deliver superior service, aiming to improve retention and drive additional revenue streams from service offerings.
Manage Environmental Initiatives Committed to pursuing initiatives reducing greenhouse gas emissions through biodiesel sales and offering energy efficient heating and cooling equipment.
Capital Allocation Priorities Liquidity supports distributions, unit repurchases, and capital expenditures, all subject to maintaining required availability constraints under the credit agreement.

Peer Comparison

Revenue (TTM)

Star Group, L.P.SGU
$1.78B
+1.0%
North American Construction Group Ltd.NOA
$918.29M
+8.2%
Oil States International, Inc.OIS
$655.35M
-11.0%

Gross Margin (Latest Quarter)

Obsidian Energy Ltd.OBE
54.6%
-11.0pp
VAALCO Energy, Inc.EGY
51.0%
+14.7pp
GeoPark LimitedGPRK
50.5%
-3.8pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
SD$534.32M7.813.9%0.1%
OIS$470.32M19.03.5%12.5%
NOA$455.31M17.88.3%48.7%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
-20.2%
Growth Under Pressure
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
75%
Volatile Cash Flow

Research & Insights

Next earnings:Feb 4, 2026
|
EPS:-
|
Revenue:-
Reports
All Years

  • Form 10-K - FY 2025

    Period End: Sep 30, 2025|Filed: Dec 9, 2025|
    Revenue: $1.78B+1.0%
    |
    EPS: $2.14+137.8%
    N/A

  • Form 10-Q - Q3 2025

    Period End: Jun 30, 2025|Filed: Aug 6, 2025|
    Revenue: $305.62M-7.8%
    |
    EPS: $-0.48+54.8%
    Beat

  • Form 10-K/A - FY 2024

    Period End: Sep 30, 2024|Filed: May 19, 2025|
    Revenue: $1.77B-9.6%
    |
    EPS: $0.90+11.1%
    Miss

  • Form 10-Q - Q2 2025

    Period End: Mar 31, 2025|Filed: May 7, 2025|
    Revenue: $743.05M+11.6%
    |
    EPS: $2.01+28.8%
    Beat

  • Form 10-K/A - FY 2024

    Period End: Sep 30, 2024|Filed: Feb 25, 2025|Refer to amended data

  • Form 10-Q - Q1 2025

    Period End: Dec 31, 2024|Filed: Feb 5, 2025|
    Revenue: $488.06M-7.6%
    |
    EPS: $0.79+146.9%
    Miss

  • Form 10-K - FY 2024

    Period End: Sep 30, 2024|Filed: Dec 4, 2024|Refer to amended data

  • Form 10-Q - Q3 2024

    Period End: Jun 30, 2024|Filed: Jul 31, 2024|
    Revenue: $331.64M+10.5%
    |
    EPS: $-0.31-53.7%
    Miss