Star Group Q2 revenue down 9.7% to $666M; net income rises, Adjusted EBITDA falls

STAR GROUP, L.P.

Revenue $666.0M (down 9.7% YoY); home heating oil/propane volume fell 4M gallons to 117.1M.
Net income $68.4M vs $62.1M, helped by $14.8M favorable derivative fair value change.
Adjusted EBITDA $96.3M vs $102.2M; higher margins offset by lower volume and reduced weather hedge.
Temperatures 15.2% warmer than normal in Star's footprint; 6.9% colder than prior year.
Closed two strategic acquisitions on Long Island in February; customer attrition modest.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

STAR GROUP, L.P. reported fiscal 2024 second quarter, the three month period ended March 31, 2024 results: revenue $666.0 million, net income $68.4 million.

Period: fiscal 2024 second quarter, the three month period ended March 31, 2024
Revenue: $666.0 million
Net income: $68.4 million
Result: reported results

Exact text from the filing

Three Months Ended March 31, 2024 Compared to the Three Months Ended March 31, 2023 For the fiscal 2024 second quarter, Star reported a 9.7 percent decrease in total revenue to $666.0 million compared with $737.6 million in the prior-year period, reflecting a decline in volume sold and lower selling prices for petroleum products. The volume of home heating oil and

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Source: SEC EDGAR

accession 0001171843-24-002425

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