STAR GROUP, L.P. (SGU) SEC Filings & Earnings Calls

Higher insurance-related expenses of $6.2 million impacted profitability

“higher operating expenses, including $6.2 million in higher insurance-related expenses” · word for word

Net customer attrition continues to pressure volumes

“net customer attrition and other factors” · word for word

Geopolitical Energy Price Spike and Backwardation

“On February 28, 2026, the United States launched a joint military operation with Israel against Iran. After which, the wholesale prices of the products that we sell became more volatile and we experienced a significant increase in the cost of our product.” · word for word

Customer Renewal Risk at Higher Prices

“Based on these recent prices, our price-protected customers will be offered renewal contracts at significantly higher prices than last year, which, has adversely impacted the acceptance rate of these renewals.” · word for word

Accounts Receivable Slowdown

“The Company believes that it may experience a slowing of collection of our accounts receivable over the next few months as our customers respond to higher product prices.” · word for word

Insurance Claims Cost Inflation

“The increase was driven by a $6.2 million increase in insurance related expenses primarily due to adverse claims development.” · word for word

Weather dependency and operating cost volatility

“Severe weather increased direct operating costs by $4.0M and insurance expense by $4.0M; weather hedge contracts capped at $5.0M expense.”

Customer attrition

“Net customer attrition partially offset volume gains; management noted attrition under 1%.”

Geopolitical price spike and backwardation

“On February 28, 2026, the United States launched a joint military operation with Israel against Iran. After which, the wholesale prices of the products that we sell became more volatile and we experienced a significant increase in the cost of our product.” · word for word

Customer renewal risk at higher prices

“Based on these recent prices, our price-protected customers will be offered renewal contracts at significantly higher prices than last year which, may adversely impact the acceptance rate of these renewals.” · word for word

Accounts receivable collection slowdown

“The Company believes that it may experience a slowing of collection of our accounts receivable over the next few months as our customers respond to higher product prices.” · word for word

Weather-related cost pressure

“We experienced a significant increase in the number of snowstorms as well as an increase in snowfall levels across our operating areas with some areas experiencing over 60 inches of snow, which negatively impacted our operational efficiency.” · word for word

Weather Dependency

“Weather conditions have a significant impact on the demand for home heating oil and propane because certain customers depend on these products principally for space heating purposes.” · word for word

Customer Attrition

“the Company lost 1,500 accounts (net), or 0.4% of its home heating oil and propane customer base, compared to 1,400 accounts lost (net), or 0.3%” · word for word

Tariff Impact Uncertainty

“Current uncertainties about tariffs and their effects on trading relationships may affect the cost and availability of the Company's assets, such as trucks, and potentially the products and services we sell” · word for word

Weather hedge expense of $5.0M in Q1 could recur if temperatures remain cold, impacting profitability.

“Temperatures were colder than the strike prices... recorded an expense under the weather hedge contracts of $5.0 million.”

Unfavorable change in fair value of derivative instruments of $10.7M partially offset earnings growth.

“Partially offset by an unfavorable change in the fair value of derivative instruments of $10.7 million.” · word for word

Net customer attrition and other factors reduced volume growth potential.

“Additional volume provided from acquisitions and colder temperatures was reduced by the impact of net customer attrition and other factors.” · word for word

Customer attrition and credit losses

“For fiscal 2025, the Company lost 19,600 accounts (net), or 4.7%, of its home heating oil and propane customer base, compared to 16,600 accounts lost (net), or 4.2%, of its home heating oil and propane customer base, during fiscal 2024. Gross customer gains were 2,200 accounts less than the prior year’s comparable period and gross customer losses were 800 ac” · word for word

Weather dependency

“Weather conditions have a significant impact on the demand for home heating oil and propane because certain customers depend on these products principally for space heating purposes.” · word for word

Tariff and trade policy uncertainty

“Current 30 uncertainties about tariffs and their effects on trading relationships may affect the cost and availability of the Company's assets, such as trucks, and potentially the products and services we sell as well as potentially contribute to inflation in the markets in which we operate.” · word for word

Biofuel blending regulatory cost

“Commencing July 1, 2025, the minimum percentage of biodiesel that is required be blended with home heating oil sold for heating purposes in buildings located in the States of New York and Connecticut (where a significant portion of our customers are located) was increased from 5% to 10%. In Rhode Island, the minimum required biodiesel blend increased from 10” · word for word

Interest rate exposure

“The year-over-year change was driven by an increase in average borrowings of $58.2 million from $158.9 million for the fiscal 2024 to $217.1 million for fiscal 2025 that was partially offset by a decrease in the weighted average interest rate from 7.3% for fiscal 2024 to 7.1% for fiscal 2025.” · word for word

Weather dependency: colder weather boosted volumes, but warmer-than-normal temperatures and weather hedge costs could pressure future results.

“Temperatures 8.2% colder than prior year but 8.3% warmer than normal; weather hedge expense $3.1M vs credit $7.5M prior year.”

Customer attrition: net customer attrition partially offset volume gains from acquisitions and weather.

“net customer attrition and other factors partially offset volume gains.”

Acquisition integration risk: D&A and interest expense increased due to acquisitions, impacting net income.

“D&A and net interest expense rose largely due to acquisitions.” · word for word