Star Group, L.P. reported a significant increase in its financial performance for the fiscal year ending September 30, 2025, with net income rising to $73.5 million, a 108.7% increase from $35.2 million in the previous year. The company’s total sales reached $1.78 billion, a slight increase from $1.77 billion in fiscal 2024, driven by a 11.5% increase in the retail volume of home heating oil and propane sold, totaling 282.6 million gallons. This growth was attributed to colder temperatures and strategic acquisitions, which added to the customer base.
The company experienced a net customer attrition rate of 4.7%, slightly higher than the 4.2% reported in the previous fiscal year. The total number of customers served was approximately 406,400 for full-service residential and commercial heating oil and propane, with an additional 63,200 on a delivery-only basis. Star Group's market share in the home heating oil sector remains significant, exceeding 5.5%, reinforcing its position as the largest retail distributor of home heating oil in the United States.
Strategically, Star Group made notable acquisitions during the fiscal year, acquiring one heating oil business and three propane businesses for approximately $80.5 million. This acquisition strategy is part of the company's broader plan to enhance its service offerings and expand its market presence. The company also reported an increase in installation and service sales, which rose by 9.3% to $346.8 million, reflecting a concerted effort to grow these segments alongside its core product sales.
Operationally, Star Group maintained a workforce of 3,024 employees as of September 30, 2025, with plans to augment staffing levels during the heating season. The company’s financial health is supported by a robust credit facility, with $189 million outstanding under its term loan and no borrowings under its revolving credit facility as of the end of the fiscal year. The company’s liquidity position remains strong, with $165 million available under its credit agreement, allowing for continued investment in growth opportunities and potential unit repurchases.
Looking ahead, Star Group anticipates ongoing challenges from market volatility, including fluctuations in wholesale product prices and regulatory pressures related to greenhouse gas emissions. The company is committed to pursuing strategic acquisitions and enhancing customer service to mitigate these risks and sustain its growth trajectory. The management remains optimistic about achieving its financial targets, supported by a solid operational framework and a focus on customer satisfaction.
About STAR GROUP, L.P.
Star Group, L.P. is a leading distributor of home heating oil and propane in the U.S., serving residential and commercial customers primarily in the Northeast and Mid-Atlantic regions. It offers fuel delivery, equipment installation, maintenance, and repair services, emphasizing customer satisfaction and loyalty. The company manages supply chain risks, employs hedging strategies, and pursues acquisitions to grow its market share in a mature, competitive industry focused on energy distribution and related services.
About 10-K Filings
A 10-K form is a comprehensive annual report that public companies in the United States must file with the SEC, providing a detailed overview of the company's financial condition, performance, and business strategies.
Key points about the 10-K:
- Frequency: Filed annually, typically within 60 to 90 days after the end of the company's fiscal year.
-
Content: It includes:
- Detailed financial statements audited by an independent accounting firm
- Management's Discussion and Analysis (MD&A) of financial condition and results
- Description of the company's business, properties, and legal proceedings
- Risk factors and market risks
- Executive compensation and corporate governance information
- Importance: Considered the most comprehensive and important document a public company files with the SEC.
- Length: Often exceeds 100 pages due to its extensive and detailed nature.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.