Star Group, L.P. (SGU) Reports Q3 Loss of $0.46, Revenues Beat

Star Group, L.P. (NYSE: SGU) reported Q3 EPS of ($0.46), versus ($0.15) reported last year. Revenue for the quarter came in at $283.4 million versus the consensus estimate of $229.62 million.

“As the year progresses we continue to take a hard look at cost controls and additional efficiency improvements,” said Jeffrey M. Woosnam, Star Group’s President and Chief Executive Officer. “I’m pleased to report that Star’s team has identified areas where we can further enhance the business and overall financial results, focusing on our core capabilities. The reduction of net attrition remains at the forefront, and we are cautiously optimistic about better performance heading into fiscal 2020. We also recently completed a sizable acquisition in Maryland that brought with it roughly 29,000 customers and annual volume of 20 million gallons spread across home heating oil, propane, and motor fuel. Such transactions help strengthen our primary markets and, combined with appropriate business execution, lay the foundation for solid operating results going forward, given normal weather conditions.”

For earnings history and earnings-related data on Star Group, L.P. (SGU) click here.

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