Star Group, L.P. (SGU) Reports Q4 Loss of $0.69, Revenues Beat

Star Group, L.P. (NYSE: SGU) reported Q4 EPS of ($0.69), versus ($0.40) reported last year. Revenue for the quarter came in at $235.9 million versus the consensus estimate of $229.62 million.

"As we come to the end of another fiscal year, I’m pleased with the many changes implemented since our new management team has been in place that will help position the Company for 2020 and beyond,” said Jeff Woosnam, Star Group’s President and Chief Executive Officer. “Reducing net attrition remains a key priority, although our performance in this regard was impacted this year by a decision not to renew certain low-margin accounts, by credit issues, and general product pricing trends. Nevertheless, we are committed to improving this going forward as we assess our overall market footprint and long-term growth strategy. We purposefully – and significantly – cut back on our concierge business this year which, following the sale of our security business in 2018, leaves Star Group more streamlined and better focused on its core products and services. At the same time, we continued to look at attractive acquisitions and completed three transactions during the past twelve months – strengthening our offerings across several geographic areas. In the fourth quarter we also repurchased 1.7 million units and, more recently, increased the size of our credit facility to fuel future growth, with both decisions designed to enhance shareholder value as we prepare for the start of yet another heating season.”

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

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