STAR GROUP, L.P.

Listed Company

SGUCIK 0001002590NYSEAcceleratedRetail-Retail Stores, NecDelawareFY ends Sep 30

Period

FY 2025

Revenue

$1.78B

Net Income

$73.50M

Total Assets

$937.33M

Equity

—

Shares Out

32.88M

Op. Cash Flow

$70.95M

Business

Star Group, L.P. is a home heating oil and propane distributor and services provider that principally delivers heating-related products and services to residential and commercial customers. It sells home heating oil, propane, gasoline and diesel, installs, maintains and repairs heating and air conditioning equipment, offers service contracts, emergency 24/7 service, and pricing alternatives including variable and price-protected plans. The company operates through a single reportable operating segment via multiple local brands and subsidiaries such as Petro Holdings, Petro Home Services, Meenan and Griffith Energy Services. It serves customers across the Northeast and Mid-Atlantic U.S. through full-service deliveries, delivery-only options, contracts and retail supply arrangements.

Summary from filing dated 2025-12-09

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Total sales	1,784	1,766	1,953	2,007	1,497
(Increase) decrease in the fair value of derivative instruments	−13	19	2	17	−36
Delivery and branch expenses	401	366	354	354	328
Depreciation and amortization expenses	35	31	32	33	33
General and administrative expenses	31	28	26	25	25
Finance charge income	−5	−5	−6	−5	−3
Operating income	114	61	63	60	130
Interest expense, net	−14	−12	−16	−10	−8
Amortization of debt issuance costs	−1	−988,000	−1	−955,000	−972,000
Other income, net	4	0	0	—	0
Income before income taxes	103	49	46	49	—
Income tax expense	29	13	14	14	34
Net income	73	35	32	35	88
General Partners interest in net income	677,000	311,000	288,000	281,000	689,000
Limited Partner interest in net income (loss)	73	35	32	35	87
Basic and diluted income per Limited Partner Unit:	1.82	0.9	0.81	0.85	1.82
Weighted average number of Limited Partner units outstanding: Basic	34	35	36	37	41
Weighted average number of Limited Partner units outstanding: Diluted	34	35	36	37	41

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Cash and cash equivalents	25	117	45	15	5
Receivables, net of allowance of $7,196 and $6,434, respectively	102	95	114	138	100
Inventories	47	42	56	84	61
Fair asset value of derivative instruments	790,000	0	11	17	26
Prepaid expenses and other current assets	33	28	28	32	30
Total current assets	207	281	255	288	222
Property and equipment, net	129	105	105	108	99
Operating lease right-of-use assets	93	91	91	93	96
Goodwill	293	276	262	254	253
Intangibles, net	125	99	76	85	95
Restricted cash	250,000	300,000	300,000	300,000	300,000
Captive insurance collateral	78	75	71	67	70
Deferred charges and other assets, net	12	13	15	18	18
Total assets	937	940	875	912	854
Accounts payable	34	32	36	49	37
Revolving credit facility borrowings	0	5,000	240,000	20	9
Fair liability value of derivative instruments	1	14	118,000	183,000	0
Current maturities of long-term debt	21	21	21	12	18
Current portion of operating lease liabilities	20	20	18	17	16
Accrued expenses and other current liabilities	119	116	116	126	121
Unearned service contract revenue	67	66	63	63	57
Customer credit balances	87	105	112	94	87
Total current liabilities	349	374	365	381	345
Long-term debt	167	188	127	152	92
Long-term operating lease liabilities	77	76	78	81	84
Deferred tax liabilities, net	31	22	26	26	29
Other long-term liabilities	16	16	16	15	25
Common unitholders	315	282	282	277	295
General partner	−7	−6	−5	−4	−3
Accumulated other comprehensive loss, net of taxes	−11	−12	−14	−16	−14
Total partners capital	297	264	264	258	278
Total liabilities and partners capital	937	940	875	912	854

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Depreciation and amortization	36	32	33	34	34
Provision for losses on accounts receivable	7	8	10	5	−248,000
Change in deferred taxes	9	−4	−501,000	−3	11
Other income, net	−4	0	0	—	—
(Increase) decrease in receivables	−14	11	16	−43	−15
(Increase) decrease in inventories	−3	18	27	−21	−11
(Increase) decrease in other assets	−5	9	14	−7	2
Increase (decrease) in accounts payable	2	−4	−14	12	7
(Decrease) increase in customer credit balances	−19	−16	18	6	3
Increase (decrease) in other current and long-term liabilities	3	1	−13	−561,000	−13
Net cash provided by operating activities	71	111	124	34	69
Capital expenditures	−15	−11	−9	−19	−15
Proceeds from sales of fixed assets	6	515,000	958,000	815,000	424,000
Proceeds from sale of certain assets	282,000	0	2	184,000	6
Purchase of investments	−3	−2	−3	−2	−1
Acquisitions	−88	−49	−20	−13	−41
Net cash used in investing activities	−100	−61	−28	−33	−50
Revolving credit facility borrowings	75	80	126	200	75
Revolving credit facility repayments	−75	−80	−146	−189	−67
Proceeds from term loan	0	210	0	165	0
Loan repayments	−21	−149	−17	−111	−13
Distributions	−26	−25	−24	−23	−23
Unit repurchases	−16	−11	−4	−31	−43
Customer retainage payments	−791,000	−719,000	−57,000	−1	−29,000
Payments of debt issuance costs	−241,000	−2	−78,000	−3	−12,000
Net cash (used in) provided by financing activities	−64	22	−65	9	−71
Net increase (decrease) in cash, cash equivalents and restricted cash	−93	72	31	10	−52

Filings

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