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

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