Star Group Q1 revenue up 10.5%, helped by colder weather
Overview
Home energy distributor's fiscal Q1 revenue rose 10.5% yr/yr to $539.3 mln
Net income for fiscal Q1 increased by $2.9 mln to $35.8 mln
Fiscal Q1 Adjusted EBITDA rose 32% yr/yr to $68.4 mln
Outlook
Star Group notes colder weather continues to impact demand into the second quarter
Company focuses on maintaining customer service and controlling costs going forward
Result Drivers
COLDER WEATHER - Temperatures were 18.8% colder than last year, boosting demand for heating products
ACQUISITIONS - Recent acquisitions contributed to a 13.9% increase in heating oil and propane volumes
SERVICE EXPANSION - Growth in service and installation revenue supported overall revenue increase
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q1 Sales |
| $539.26 mln |
|
Q1 Net Income |
| $35.79 mln |
|
Q1 Adjusted EBITDA |
| $68.39 mln |
|
Q1 Operating Income |
| $54.24 mln |
|
Q1 Pretax Profit |
| $50.16 mln |
|
Press Release: ID:nGNXydpgS
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