Star Group, L.P. saw its stock move 1.3% today, closing at a price of $11.96 per share. The company has just issued a press release declaring its quarterly distribution on all units for the fiscal first quarter ended December 31, 2023. The quarterly distribution amounts to $0.1625 per common unit for the three months ended December 31, 2023. The record date for this distribution is January 22, 2024, and the payment date is January 31, 2024.
Richard F. Ambury, Chief Financial Officer of Star Group, L.P., stated, "We are pleased to announce our quarterly distribution, reflecting our ongoing commitment to delivering value to our unitholders."
Star Group, L.P. is a home energy distributor and services provider, specializing in the sale of home heating products and services to residential and commercial customers to heat their homes and buildings. The company is also involved in the sale and service of heating and air conditioning equipment, as well as the sale of diesel, gasoline, and home heating oil on a delivery-only basis.
The full press release and financial statements can be accessed via the Securities and Exchange Commission's website. The company's full 8-K submission is available here.
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|
| Revenue (MM) | $1,678 | $1,754 | $1,467 | $1,497 | $2,007 | $1,983 |
| Revenue Growth | n/a | 4.53% | -16.33% | 2.02% | 34.03% | -1.2% |
| Operating Margins | 4% | 2% | 6% | 9% | 3% | 1% |
| Net Margins | 3% | 1% | 4% | 6% | 2% | 0% |
| Net Income (MM) | $56 | $18 | $56 | $88 | $35 | $2 |
| Net Interest Expense (MM) | -$9 | -$11 | -$10 | -$8 | -$10 | -$13 |
| Depreciation & Amort. (MM) | $32 | $33 | $35 | $33 | $33 | $32 |
| Free Cash Flow (MM) | $44 | $86 | $162 | $54 | $15 | $154 |
| Capital Expenditures (MM) | $14 | $11 | $14 | $15 | $19 | $14 |
| Current Ratio | 0.92 | 0.76 | 0.65 | 0.71 | 0.82 | 0.79 |
| Total Debt (MM) | $199 | $251 | $192 | $243 | $309 | $173 |
| Net Debt / EBITDA | 1.8 | 3.37 | 1.36 | 1.36 | 3.08 | 2.34 |
Star has growing revenues and increasing reinvestment in the business, irregular cash flows, and healthy leverage. Furthermore, Star has average net margins with a negative growth trend and positive expected EPS Growth.
