Star Group L.P. Files Q3 2024 10-Q

TL;DR

**STAR GROUP L.P. 10-Q FILED: Q3 2024 FINANCIALS OUT NOW. CHECK IT.**

AI Summary

Star Group, L.P. filed its 10-Q for the period ending June 30, 2024. The filing details the company's financial performance and position, including its assets, liabilities, and equity. Specific financial figures and operational details are provided within the report, which is crucial for investors and stakeholders to assess the company's current financial health and future prospects.

Why It Matters

This 10-Q filing provides investors with a detailed look at Star Group's financial performance and position as of June 30, 2024, enabling informed investment decisions.

Risk Assessment

Risk Level: medium — 10-Q filings are standard financial reports, but the specific details within can reveal significant financial health indicators or risks.

Key Players & Entities

• STAR GROUP, L.P. (company) — Filer of the 10-Q
• 20240630 (date) — End of the reporting period
• 20240731 (date) — Filing date
• 0000950170-24-088592 (other) — Accession Number

FAQ

Filing Documents

• sgu-20240630.htm (10-Q) — 2443KB
• sgu-ex31_1.htm (EX-31.1) — 12KB
• sgu-ex31_2.htm (EX-31.2) — 12KB
• sgu-ex32_1.htm (EX-32.1) — 15KB
• sgu-ex32_2.htm (EX-32.2) — 15KB
• 0000950170-24-088592.txt ( ) — 9387KB
• sgu-20240630.xsd (EX-101.SCH) — 1260KB
• sgu-20240630_htm.xml (XML) — 1726KB

Financial Information

Part I Financial Information

- Condensed Consolidated Financial Statements

Item 1 - Condensed Consolidated Financial Statements 3 Condensed Consolidated Balance Sheets as of June 30, 2024 (unaudited) and September 30, 2023 3 Condensed Consolidated Statements of Operations (unaudited) for the three and nine months ended June 30, 2024 and June 30, 2023 4 Condensed Consolidated Statements of Comprehensive Income (Loss) (unaudited) for the three and nine months ended June 30, 2024 and June 30, 2023 5 Condensed Consolidated Statement of Partners' Capital (unaudited) for the three and nine months ended June 30, 2024 and June 30, 2023 6 - 7 Condensed Consolidated Statements of Cash Flows (unaudited) for the nine months ended June 30, 2024 and June 30, 2023 8 Notes to Condensed Consolidated Financial Statements (unaudited) 9 - 21

- Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2 - Management's Discussion and Analysis of Financial Condition and Results of Operations 22 - 39

- Quantitative and Qualitative Disclosures About Market Risk

Item 3 - Quantitative and Qualitative Disclosures About Market Risk 40

- Controls and Procedures

Item 4 - Controls and Procedures 40

Other Information

Part II Other Information: 41

- Legal Proceedings

Item 1 - Legal Proceedings 41

- Risk Factors

Item 1A - Risk Factors 41

- Purchase of Equity Securities by Issuer

Item 2 - Purchase of Equity Securities by Issuer 41

- Defaults Upon Senior Securities

Item 3 - Defaults Upon Senior Securities 41

- Mine Safety Disclosures

Item 4 - Mine Safety Disclosures 41

- Other Information

Item 5 - Other Information 41

- Exhibits

Item 6 - Exhibits 42

FINANCIA L INFORMATION

Part I. FINANCIA L INFORMATION

Condensed Consolida ted Financial Statements

Item 1. Condensed Consolida ted Financial Statements STAR GROUP, L.P. AND SUBSIDIARIES CONDENSED CONSOLIDA TED BALANCE SHEETS June 30, September 30, 2024 2023 (in thousands) (unaudited) ASSETS Current assets Cash and cash equivalents $ 45,701 $ 45,191 Receivables, net of allowance of $ 10,028 and $ 8,375 , respectively 128,565 114,079 Inventories 40,911 56,463 Fair asset value of derivative instruments — 10,660 Prepaid expenses and other current assets 28,571 28,308 Total current assets 243,748 254,701 Property and equipment, net 104,457 105,404 Operating lease right-of-use assets 85,452 90,643 Goodwill 268,360 262,103 Intangibles, net 77,508 76,306 Restricted cash 250 250 Captive insurance collateral 73,698 70,717 Deferred charges and other assets, net 12,043 15,354 Total assets $ 865,516 $ 875,478 LIABILITIES AND PARTNERS' CAPITAL Current liabilities Accounts payable $ 29,700 $ 35,609 Revolving credit facility borrowings 4,396 240 Fair liability value of derivative instruments 2,744 118 Current maturities of long-term debt 16,500 20,500 Current portion of operating lease liabilities 17,968 18,085 Accrued expenses and other current liabilities 132,274 115,606 Unearned service contract revenue 65,141 63,215 Customer credit balances 62,375 111,508 Total current liabilities 331,098 364,881 Long-term debt 115,117 127,327 Long-term operating lease liabilities 72,147 77,600 Deferred tax liabilities, net 23,582 25,771 Other long-term liabilities 16,019 16,175 Partners' capital Common unitholders 324,857 281,862 General partner ( 5,019 ) ( 4,615 ) Accumulated other comprehensive loss, net of taxes ( 12,285 ) ( 13,523 ) Total partners' capital 307,553 263,724 Total liabilities and partners' capital $ 865,516 $ 875,478 See accompanying

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