Star Group L.P. Files 10-Q with Dividend, Repurchase Updates

TL;DR

STAR Group 10-Q: Stock buybacks active, Q2 2025 dividends planned.

AI Summary

Star Group, L.P. filed its 10-Q for the period ending December 31, 2024. The filing indicates a common stock repurchase program active as of November 30, 2024. It also details equipment installations for the period October 1, 2023, to December 31, 2023, and mentions a synthetic oil call option for the period October 1, 2024, to December 31, 2024. The company also noted subsequent events related to Q2 2025 dividends.

Why It Matters

This filing provides investors with an update on Star Group's financial activities, including stock repurchases and dividend plans, which can influence stock value and investor confidence.

Risk Assessment

Risk Level: medium — The filing contains details on financial instruments and subsequent events that could impact the company's financial performance and stock price.

Key Numbers

• 20241231 — Reporting Period End Date (Indicates the end of the fiscal quarter being reported.)
• 20250205 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• STAR GROUP, L.P. (company) — Filer of the 10-Q
• 20241231 (date) — Reporting period end date
• 20250205 (date) — Filing date
• 2024-11-30 (date) — Date related to CommonStockRepurchaseProgram
• 2023-10-01 (date) — Start date for EquipmentInstallations period
• 2023-12-31 (date) — End date for EquipmentInstallations period
• 2024-10-01 (date) — Start date for synthetic oil call option period
• 2024-12-31 (date) — End date for synthetic oil call option period
• 2025-01-01 (date) — Start date for O2025Q2Dividends subsequent event
• 2025-01-31 (date) — End date for O2025Q2Dividends subsequent event

FAQ

Filing Documents

• sgu-20241231.htm (10-Q) — 2181KB
• sgu-ex31_1.htm (EX-31.1) — 13KB
• sgu-ex31_2.htm (EX-31.2) — 13KB
• sgu-ex32_1.htm (EX-32.1) — 17KB
• sgu-ex32_2.htm (EX-32.2) — 18KB
• 0000950170-25-014482.txt ( ) — 9198KB
• sgu-20241231.xsd (EX-101.SCH) — 1270KB
• sgu-20241231_htm.xml (XML) — 1704KB

Financial Information

Part I Financial Information

- Condensed Consolidated Financial Statements

Item 1 - Condensed Consolidated Financial Statements 3 Condensed Consolidated Balance Sheets as of December 31, 2024 (unaudited) and September 30, 2024 3 Condensed Consolidated Statements of Operations (unaudited) for the three months ended December 31, 2024 and December 31, 2023 4 Condensed Consolidated Statements of Comprehensive Income (Loss) (unaudited) for the three months ended December 31, 2024 and December 31, 2023 5 Condensed Consolidated Statement of Partners' Capital (unaudited) for the three months ended December 31, 2024 and December 31, 2023 6 Condensed Consolidated Statements of Cash Flows (unaudited) for the three months ended December 31, 2024 and December 31, 2023 7 Notes to Condensed Consolidated Financial Statements (unaudited) 8 - 19

- 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 20 - 31

- Quantitative and Qualitative Disclosures About Market Risk

Item 3 - Quantitative and Qualitative Disclosures About Market Risk 32

- Controls and Procedures

Item 4 - Controls and Procedures 32

Other Information

Part II Other Information: 34

- Legal Proceedings

Item 1 - Legal Proceedings 34

- Risk Factors

Item 1A - Risk Factors 34

- Purchase of Equity Securities by Issuer

Item 2 - Purchase of Equity Securities by Issuer 34

- Defaults Upon Senior Securities

Item 3 - Defaults Upon Senior Securities 34

- Mine Safety Disclosures

Item 4 - Mine Safety Disclosures 34

- Other Information

Item 5 - Other Information 34

- Exhibits

Item 6 - Exhibits 35

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 December 31, September 30, 2024 2024 (in thousands) (unaudited) ASSETS Current assets Cash and cash equivalents $ 48,792 $ 117,335 Receivables, net of allowance of $ 5,707 and $ 6,434 , respectively 176,279 94,981 Inventories 68,269 41,587 Fair asset value of derivative instruments 51 — Prepaid expenses and other current assets 37,566 27,566 Total current assets 330,957 281,469 Property and equipment, net 104,627 104,534 Operating lease right-of-use assets 91,023 91,141 Goodwill 276,074 275,829 Intangibles, net 95,005 98,712 Restricted cash 250 250 Captive insurance collateral 75,684 74,851 Deferred charges and other assets, net 13,132 12,825 Total assets $ 986,752 $ 939,611 LIABILITIES AND PARTNERS' CAPITAL Current liabilities Accounts payable $ 48,234 $ 31,547 Revolving credit facility borrowings 7,830 5 Fair liability value of derivative instruments 7,041 13,971 Current maturities of long-term debt 21,000 21,000 Current portion of operating lease liabilities 20,598 19,832 Accrued expenses and other current liabilities 123,990 116,317 Unearned service contract revenue 79,568 66,424 Customer credit balances 88,692 104,700 Total current liabilities 396,953 373,796 Long-term debt 182,670 187,811 Long-term operating lease liabilities 75,275 75,916 Deferred tax liabilities, net 24,960 21,922 Other long-term liabilities 15,852 16,273 Partners' capital Common unitholders 308,528 282,058 General partner ( 5,775 ) ( 5,714 ) Accumulated other comprehensive loss, net of taxes ( 11,711 ) ( 12,451 ) Total partners' capital 291,042 263,893 Total liabilities and partners' capital $ 986,752 $ 939,611 See accompanying

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