Star Group, L.P. Common Units (NYSE:SGU) Q4 2024 Results Earnings Conference Call December 5, 2024 11:00 AM ET

Company Participants

Chris Witty - Investor Relations, Darrow Associates
Jeff Woosnam - President and Chief Executive Officer
Rich Ambury - Chief Financial Officer

Conference Call Participants

Michael Prouting - 10K Capital LLC

Operator

Good day and welcome to the Star Group Fiscal 2024 Fourth Quarter Results Conference Call. All participants will be in a listen-only mode. [Operator Instructions]. Please note this event is being recorded.

I would now like to turn the conference over to Chris Witty, Investor Relations Advisor. Please go ahead.

Chris Witty

Thank you. And good morning. With me on the call today are Jeff Woosnam, President and Chief Executive Officer, and Rich Ambury, Chief Financial Officer.

I would now like to provide a brief Safe Harbor Statement. This conference call may include forward-looking statements that represent the company's expectations and beliefs concerning future events that involve risks and uncertainties and may cause the company's actual performance to be materially different from the performance indicated or implied by such statements. All statements other than statements of historical facts included in this conference call are forward-looking statements.

Although the company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Important factors that could cause actual results to differ materially from the company's expectations are enclosed in this conference call, the company's annual report on Form 10-K for the fiscal year ended September 30th, 2024, and the company's other filings with the SEC.

All subsequent written and oral forward-looking statements attributable to the company or persons acting on its behalf are expressively qualified in their entirety by the cautionary statements.

Unless otherwise required by law, the company undertakes an obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, after the date of this conference call.

I would now like to turn the call over to Jeff Woosnam. Jeff?

Jeff Woosnam

Thanks, Chris. And good morning, everyone. Thank you for joining our fourth quarter conference call. It's amazing how time passes so quickly and here we are concluding another fiscal year and starting a new heating season. It's a great opportunity to reflect on Star's performance over the past 12 months.

Notably temperatures in fiscal 2024 were 15% warmer than normal, but roughly flat year-over-year. Total revenue fell modestly due to slightly lower volumes and selling prices. However, full year adjusted EBITDA arose by $14.7 million versus fiscal 2023, reflecting an increase in home heating oil and propane per gallon margins and higher service and installation profitability.