Star Group Q1 revenue $648.2M (+33%); net income down to $13.5M, Adj. EBITDA $49.1M

STAR GROUP, L.P.

Revenue $648.2M, up 32.8% YoY on higher selling prices; volume up 2.5% to 89.2M gallons.
Net income $13.5M, down $1.0M YoY due to $4.2M non-cash derivative loss and higher interest expense.
Adjusted EBITDA $49.1M, up $4.6M YoY on higher volume and per-gallon margins.
Net customer gain of 1.7% in Q1, best in years; acquired two dealers adding ~1.5M gallons annually.
Weather 14.9% colder than prior year but 6.6% warmer than normal; $0.4M weather hedge charge.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.8

STAR GROUP, L.P. reported fiscal 2023 first quarter ended December 31, 2022 results: revenue $648.2 million, net income $13.5 million.

Period: fiscal 2023 first quarter ended December 31, 2022
Revenue: $648.2 million
Net income: $13.5 million
Result: reported results

Exact text from the filing

Months Ended December 31, 2022 Compared to the Three Months Ended December 31, 2021 For the fiscal 2023 first quarter, Star reported a 32.8 percent increase in total revenue to $648.2 million compared with $488.3 million in the prior-year period, reflecting higher selling prices. The volume of home heating oil and propane sold during the fiscal 2023 first quarter

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Source: SEC EDGAR

accession 0001171843-23-000589

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