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SGU

Star Group, L.P.

SGU

Star Group, L.P. • NYSE
$12.00 ▼ -0.41% (-0.05)
Market Cap $403.28 M
52w High $13.75
52w Low $11.11
Dividend Yield 0.73%
P/E 7.1
Volume 6.26K
Outstanding Shares 33.61M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $305.618M ▼ $97.979M ▼ $-16.472M ▼ -5.39% ▼ $-0.48 ▼ $-9.98M ▼
Q2-2025 $743.045M ▲ $125.601M ▲ $70.429M ▲ 9.478% ▲ $2.01 ▲ $134.284M ▲
Q1-2025 $488.063M ▲ $100.577M ▲ $27.513M ▲ 5.637% ▲ $0.79 ▲ $57.122M ▲
Q4-2024 $240.331M ▼ $98.322M ▲ $-27.485M ▼ -11.436% ▼ $-1.59 ▼ $-40.442M ▼
Q3-2024 $331.64M $93.295M $-11.044M -3.33% $-0.31 $-5.048M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $28.082M ▲ $963.799M ▼ $626.231M ▼ $343.487M ▼
Q2-2025 $18.502M ▼ $1.059B ▲ $688.885M ▼ $375.921M ▲
Q1-2025 $48.792M ▼ $986.752M ▲ $695.71M ▲ $296.817M ▲
Q4-2024 $117.335M ▲ $939.611M ▲ $675.718M ▲ $269.607M ▼
Q3-2024 $45.701M $865.516M $557.963M $312.572M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-16.472M ▼ $72.502M ▲ $-13.1M ▲ $-49.822M ▼ $9.58M ▲ $68.674M ▲
Q2-2025 $85.911M ▲ $48.605M ▲ $-81.755M ▼ $2.86M ▲ $-30.29M ▲ $46.079M ▲
Q1-2025 $32.884M ▲ $-64.564M ▼ $-4.652M ▲ $673K ▼ $-68.543M ▼ $-68.564M ▼
Q4-2024 $-35.086M ▼ $38.611M ▼ $-29.984M ▼ $63.007M ▲ $71.634M ▲ $35.568M ▼
Q3-2024 $-11.044M $77.546M $-1.984M $-41.924M $33.638M $75.958M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Billable Call Services
Billable Call Services
 $20.00M ▲$20.00M ▲$20.00M ▲$20.00M ▲
Equipment Installations
Equipment Installations
 $30.00M ▲$40.00M ▲$30.00M ▼$30.00M ▲
Equipment Maintenance Service Contracts
Equipment Maintenance Service Contracts
 $40.00M ▲$30.00M ▼$30.00M ▲$40.00M ▲
Home Heating Oil And Propane
Home Heating Oil And Propane
 $70.00M ▲$320.00M ▲$590.00M ▲$140.00M ▼
Installation And Services
Installation And Services
 $80.00M ▲$90.00M ▲$80.00M ▼$90.00M ▲
Other Petroleum Products
Other Petroleum Products
 $0 ▲$80.00M ▲$80.00M ▲$80.00M ▲
Product
Product
 $0 ▲$400.00M ▲$670.00M ▲$220.00M ▼

Five-Year Company Overview

Income Statement

Income Statement Star Group’s revenues have been fairly stable over the last few years, with only modest ups and downs, which is typical for a mature, weather‑driven energy distributor. Profit margins at the gross level have held up reasonably well, suggesting the company is managing its pricing and fuel costs with some discipline. Operating profit has been consistently positive but not especially large, pointing to a business that is steady rather than fast‑growing. Earnings were stronger a few years ago and have since settled into a lower, more normal range, reflecting tougher conditions and perhaps higher costs. Overall, the income statement shows a resilient, slow‑moving business with modest profitability and limited growth momentum.

Balance Sheet

Balance Sheet The balance sheet has gradually strengthened. Total assets have inched higher, and the company now carries a noticeable cash cushion compared with very limited cash a few years back. Debt has risen somewhat but appears manageable relative to the size of the business. A key improvement is that equity has moved from being slightly negative to clearly positive and stable, which signals a healthier underlying financial position and some rebuilding of capital over time. In plain terms, the company looks financially sturdier today than it did a few years ago, even though it still relies meaningfully on borrowing to fund operations and acquisitions.

Cash Flow

Cash Flow Cash generation from the core business has been consistently positive and has improved compared with the weaker year in the recent past. Free cash flow has stayed positive each year, even after the company spends on maintenance and growth investments, which themselves have been relatively modest and predictable. This pattern suggests a cash‑generative, capital‑light model that can support ongoing operations, interest, and distributions or debt reduction without stretching the balance sheet. The stability of cash flow is a key strength for a seasonal, weather‑sensitive company like this.

Competitive Edge

Competitive Edge Star Group holds a leading position as the largest retail distributor of home heating oil in the country, which gives it scale advantages in purchasing, logistics, and marketing that smaller local players cannot easily match. It has expanded through a steady acquisition program, rolling up smaller distributors and broadening its footprint, especially in propane. The company also benefits from a diversified offering: it sells heating fuels and provides HVAC installation and service, plus related home services, which can smooth out results when fuel volumes fluctuate. Risk factors include continued long‑term pressure on heating oil demand, sensitivity to warmer winters, and exposure to evolving environmental regulations and decarbonization policies. Competition from gas, electric heat, and other energy providers remains an underlying structural challenge, even if changes happen slowly.

Innovation and R&D

Innovation and R&D This is not a high‑tech R&D story; innovation is mostly in financial tools, products, and service offerings. Star Group actively uses hedging strategies and weather‑related contracts to reduce the impact of fuel price swings and unusual winters, helping to stabilize margins and customer pricing. It offers flexible payment plans and service contracts that are designed to keep customers loyal and reduce churn. On the environmental side, the company is leaning into biodiesel blends such as Bioheat fuel, which helps address regulatory pressure and appeals to greener‑minded homeowners without requiring a complete system change. It is also building out its propane and service businesses, which serve as a bridge toward a more diversified and somewhat cleaner energy mix. Future “innovation” will likely be about business model adaptation and product mix shifts rather than new technology breakthroughs.

Summary

Star Group looks like a mature, cash‑generating home energy distributor with a stronger balance sheet today than a few years ago and relatively steady, but not rapid, earnings. Its main strengths lie in scale, local market density, a diversified mix of fuel and service offerings, and the use of financial and weather hedging to smooth out a volatile underlying business. The company appears to be adapting—gradually—to environmental and policy pressures through biodiesel blends and an emphasis on propane and services. Key risks revolve around long‑term declines in heating oil usage, warmer winters, regulatory shifts, and the execution and integration of ongoing acquisitions. Overall, the picture is of a stable, income‑oriented operation in a slowly evolving, structurally challenged niche, with moderate room to adapt but limited structural growth in its legacy core market.

NEWS

November 28, 2025 · 8:00 PM UTC

Blue Star Gold Announces Closing of Final Tranche of Non-Brokered Private Placement

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November 27, 2025 · 6:21 PM UTC

South Star Announces Q3 2025 Financial and Operating Results

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November 25, 2025 · 4:05 PM UTC

Star Equity Holdings to Present at the Noble Capital Markets Emerging Growth Conference on December 3, 2025

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November 25, 2025 · 3:01 AM UTC

Star Copper Advances Satellite Target Located 1.5 Km from Star Main Deposit; Arranges Non-Brokered Flow Through Private Placement

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November 21, 2025 · 8:00 PM UTC

South Star Announces Closing of Final Tranche of Private Placement and Announces AGSM Results

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