The following is a summary of the Star Group, L.P. (SGU) Q3 2024 Earnings Call Transcript:
Financial Performance:
Star Group achieved a reduction in their adjusted EBITDA loss by nearly $19 million in Q3 of fiscal 2024.
They posted a net loss of $11 million in Q3, which was $13 million less than the prior year period.
For the first nine months of fiscal 2024, Star Group recorded a net income of $70 million, a $19 million increase over the previous year.
Business Progress:
Star Group acquired a high-quality fuel dealer expected to add 19 million gallons of heating oil annually, representing their fifth acquisition this fiscal year.
The company has maintained stable net attrition, reflecting ongoing focus on customer retention and service excellence.
Home heating oil and propane volume increased by 7.6 million gallons or 25% to 38 million gallons in the quarter.
Opportunities:
The acquisition of strategic assets within existing operational footprints presents an opportunity for enhanced market consolidation and potential revenue growth.
More details: Star Group LP IR
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.