STAR GROUP, L.P. Earnings Per Share Disclosure
19) Earnings per Limited Partner Units
The following table presents the net income allocation and per unit data:
Basic and Diluted Earnings Per Limited Partner: |
|
Years Ended September 30, |
|
|||||||||
(in thousands, except per unit data) |
|
2025 |
|
|
2024 |
|
|
2023 |
|
|||
Net income |
|
$ |
73,495 |
|
|
$ |
35,223 |
|
|
$ |
31,945 |
|
Less General Partners’ interest in net income |
|
|
677 |
|
|
|
311 |
|
|
|
288 |
|
Net income available to limited partners |
|
|
72,818 |
|
|
|
34,912 |
|
|
|
31,657 |
|
Less dilutive impact of theoretical distribution of |
|
|
10,352 |
|
|
|
3,125 |
|
|
|
2,600 |
|
Limited Partner’s interest in net income |
|
$ |
62,466 |
|
|
$ |
31,787 |
|
|
$ |
29,057 |
|
Per unit data: |
|
|
|
|
|
|
|
|
|
|||
Basic and diluted net income available to limited partners |
|
$ |
2.12 |
|
|
$ |
0.99 |
|
|
$ |
0.89 |
|
Less dilutive impact of theoretical distribution of |
|
|
0.30 |
|
|
|
0.09 |
|
|
|
0.08 |
|
Limited Partner’s interest in net income |
|
$ |
1.82 |
|
|
$ |
0.90 |
|
|
$ |
0.81 |
|
Weighted average number of Limited Partner units outstanding |
|
|
34,276 |
|
|
|
35,273 |
|
|
|
35,694 |
|
* In any accounting period where the Company’s aggregate net income exceeds its aggregate distribution for such period, the Company is required to present net income per limited partner unit as if all of the earnings for the period were distributed, based on the terms of the Partnership agreement, regardless of whether those earnings would actually be distributed during a particular period from an economic or practical perspective. This allocation does not impact the Company’s overall net income or other financial results.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Dec 9, 2025 | Showing above |
| 2024 | Dec 4, 2024 | |
| 2023 | Dec 6, 2023 | |
| 2022 | Dec 7, 2022 | |
| 2021 | Dec 8, 2021 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.