Star Group Q3 net loss widens to $28M; revenue up 17% on higher prices

STAR GROUP, L.P.

Revenue $358.1M (+17.2% YoY) driven by higher selling prices; volume down 9.4% to 32.8M gallons.
Net loss $28.0M vs $16.6M prior year; Adjusted EBITDA loss $17.7M vs $10.6M.
Higher operating expenses, including $6.2M insurance-related, and lower volume drove loss.
Nine-month net income $116.1M (+$13.9M); Adjusted EBITDA $189.3M (+$19.9M) on colder weather.
No acquisitions in quarter; management assessing opportunities and investing in service business.

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