Star Group Q2 revenue declines 5.7% to $737.6M on record warm weather; net income down $19.3M

STAR GROUP, L.P.

Volume of home heating oil/propane fell 18.7% to 121.1M gallons; weather 21.6% warmer than normal, warmest NYC quarter in 123 years.
Net income dropped $19.3M to $62.0M; weather hedge provided $12.9M benefit vs $1.1M charge a year ago.
Adjusted EBITDA decreased $5.5M to $102.2M; per-gallon margins improved but volume decline outweighed.
Six-month revenue up 9% to $1.4B but volume down 10.8%; net income fell $20.3M to $75.6M.
Management cites weather impact and notes cost-control efforts and hedge program as mitigants.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

STAR GROUP, L.P. reported fiscal 2023 second quarter ended March 31, 2023 results: revenue $737.6 million, net income $62.0 million.

Period: fiscal 2023 second quarter ended March 31, 2023
Revenue: $737.6 million
Net income: $62.0 million
Result: reported results

Exact text from the filing

2023. Three Months Ended March 31, 2023 Compared to the Three Months Ended March 31, 2022 For the fiscal 2023 second quarter, Star reported a 5.7 percent decline in revenue to $737.6 million compared with $782.5 million in the prior-year period, reflecting a decrease in total volume sold, partially offset by the impact of acquisitions and other factors. The volume of

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

STAR GROUP, L.P. reported six months ended March 31, 2023 results: revenue $1.4 billion, net income $75.6 million.

Period: six months ended March 31, 2023
Revenue: $1.4 billion
Net income: $75.6 million
Result: reported results

Exact text from the filing

For the six months ended March 31, 2023, Star reported a 9.0 percent increase in total revenue to $1.4 billion compared with $1.3 billion in the prior-year period

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STAR GROUP, L.P. filing history →

Source: SEC EDGAR

accession 0001171843-23-002829

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