Overview
Star Group fiscal Q3 revenue falls 7.8% yr/yr due to lower product sales
Net loss increases to $16.6 mln, impacted by higher depreciation and interest expenses
Adjusted EBITDA loss of $10.6 mln, affected by reduced margins and sales volume
Outlook
Company focuses on growing propane and heating oil customer base
Company aims to improve service and installation profitability
Result Drivers
WARMER WEATHER - Co attributes reduced sales volume to 2% warmer temperatures compared to last year and 19.3% warmer than normal
CUSTOMER ATTRITION - Net customer attrition contributed to a 3.8% decline in home heating oil and propane volume
LOWER WHOLESALE COSTS - Decline in wholesale product costs led to decreased selling prices, impacting revenue
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Sales | $305.62 mln | ||
Q3 Net Income | -$16.63 mln | ||
Q3 Adjusted EBITDA | -$10.58 mln | ||
Q3 Operating Income | -$19.18 mln | ||
Q3 Pretax Profit | -$23.09 mln |
Press Release: ID:nGNX8pV2Tf
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
Comments