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Star Group, L.P. (SGU) earnings and revenue breakdown

Latest: Q3 FY26 · 10-Q filed Aug 5, 2026 · Star Group, L.P. (SGU) Q3 FY26 earnings results →

Q3 FY26 Revenue up 17% year over year to $358M · 8¢ of every $1 of revenue lost · operating margin -9.5%

Star Group, L.P. made $358M in Q3 FY26 (+17% Y/Y): Home Heating Oil and Propane $153M, Installation and Services $91.1M, Equipment Maintenance Service Contracts and Billable Call Services $58.3M. Operating margin -9.5%, net loss $28.0M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 5, 2026.

Revenue$358M
Year over year+17%
Operating margin-9.5%
Net earnings−$28.0M
Operating cash flow$118M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $358.1M in Q3 FY26, up 17% year over year and down 53% from the previous quarter. Home Heating Oil and Propane was the largest line at 43% of revenue. Home Heating Oil and Propane added $17.0M year over year (up 12%), 32% of the total change. Equipment Installations declined 2%.

Operating costs exceeded revenue by $34.1M, an operating margin of -9.5%. The fastest-growing cost line was Other operating costs (+294%). The quarter ended with a net loss of $28.0M, after a profit of $108.3M the previous quarter.

Operating cash flow was $118.3M (up 63% year over year). Non-cash charges added back $8.6M of depreciation and amortization. Working capital and other items added $137.7M. Capital expenditures of $2.5M left free cash flow of $115.8M.

Quarterly history

Star Group, L.P. revenue by quarterStar Group, L.P. revenue by quarter$240MQ4 FY24$743MQ2 FY25$306MQ3 FY25$248MQ4 FY25$539MQ1 FY26$767MQ2 FY26$358MQ3 FY26
Star Group, L.P. net earnings by quarterStar Group, L.P. net earnings by quarter−$35.1MQ4 FY24$85.9MQ2 FY25−$16.6MQ3 FY25−$28.7MQ4 FY25$35.8MQ1 FY26$108MQ2 FY26−$28.0MQ3 FY26
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 FY2610-QAug 5, 2026$358M+17%-9.5%−$28.0M$118M
Q2 FY2610-QMay 6, 2026$767M+3%20.5%$108M−$5.9M
Q1 FY2610-QFeb 4, 2026$539M+10%10.1%$35.8M−$55.2M
Q4 FY2510-KDec 9, 2025$248M+3%-16.5%−$28.7M$14.4M
Q3 FY2510-QAug 6, 2025$306M-8%-6.3%−$16.6M$72.5M
Q2 FY2510-QMay 7, 2025$743M+12%16.9%$85.9M$48.6M
Q4 FY2410-KDec 4, 2024$240M-10%-20.2%−$35.1M$38.6M

Charts

Star Group, L.P.: revenue growth, year over year and quarter over quarterStar Group, L.P.: revenue growth, year over year and quarter over quarterY/YQ/Q-10%Q4 FY24+12%+209%Q2 FY25-8%-59%Q3 FY25+3%-19%Q4 FY25+10%+118%Q1 FY26+3%+42%Q2 FY26+17%-53%Q3 FY26
Latest (Q3 FY26): Y/Y +17%, Q/Q -53%.
Star Group, L.P.: where the cash came from (+) and went (−), TTM to Q3 FY26Star Group, L.P.: where the cash came from (+) and went (−), TTM to Q3 FY26Operating cash flow$71.6MDividends−$26.6MNet borrowing (+) / repaid (−)−$21.0MCapital spending−$14.8MBuybacks−$11.1MAsset & business sales$5.6MOther investing−$3.2MCash drawn (+) / kept (−)$1.1MAcquisitions−$957KOther financing−$724K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Star Group, L.P.: profit against cash, quarter by quarterStar Group, L.P.: profit against cash, quarter by quarterNet incomeOperating cash flow−$35.1M$38.6MQ4 FY24$32.9M−$64.6MQ1 FY25$85.9M$48.6MQ2 FY25−$16.6M$72.5MQ3 FY25−$28.7M$14.4MQ4 FY25$35.8M−$55.2MQ1 FY26$108M−$5.9MQ2 FY26−$28.0M$118MQ3 FY26
Latest (Q3 FY26): Net income −$28.0M, Operating cash flow $118M.
Star Group, L.P.: diluted shares by fiscal yearStar Group, L.P.: diluted shares by fiscal year46MFY2041MFY2137MFY2236MFY2335MFY2434MFY25
-24.9% since FY20: buybacks shrank the count.
Star Group, L.P.: long-term debt falling due (FY25)Star Group, L.P.: long-term debt falling due (FY25)$21.0M2026$21.0M2027$21.0M2028$126M2029
Cash $24.7M, short-term investments —, long-term debt $188M at 2025-09-30.
Star Group, L.P. in its industry: growth against margin (12 companies, SIC 5990)Star Group, L.P. in its industry: growth against margin (12 companies, SIC 5990)revenue growth, year over year →↑ operating marginmedian +0%median 3%ULTABBWIWOOFSBHTITNLESLFLWSRENTBARKRMTGINHDSGU (+17%, -10%)
Retail-Retail Stores, NEC; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

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💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Star Group, L.P.

Star Group, L.P. is a full service provider specializing in the sale of home heating products and services to residential and commercial customers to heat their homes and buildings. The Company also sells and services heating and air conditioning equipment to its home heating oil and propane customers and, to a lesser extent, provides these offerings to customers outside of its home heating oil and propane customer base. Star also sells diesel, gasoline and home heating oil on a delivery only basis. We believe Star is the nation's largest retail distributor of home heating oil based upon sales volume. Including its propane locations, Star serves customers in the more northern and eastern states within the Northeast and Mid-Atlantic U.S. regions.

In its own words, from its 8-K, filed Aug 5, 2026.

Star Group, L.P. against its Retail-Retail Stores, NEC peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +17% against the peers' median 0%. Operating margin: -9.5% against the peers' median 3.2%.

CompanyQuarterRevenueY/YOp. margin
SGU Star Group, L.P.Q3 FY26$358M+17%-9.5%
ULTA Ulta BeautyQ2 FY27$3.0B+9%12.5%
BBWI Bath & Body WorksQ2 FY27$1.5B-2%14.3%
WOOF Petco Health & Wellness CompanyQ2 FY27$1.5B0%3.2%
SBH Sally Beauty HoldingsQ3 FY26$935M+0.2%9.2%
TITN Titan MachineryQ2 FY27$496M-9%-0.5%
LESL Leslie'sQ3 FY26$458M-8%13.4%
FLWS 1 800 FlowersQ1 FY27$171M-11%-27.1%
RENT Rent the RunwayQ2 FY27$97.7M+21%-8.0%

Source: Star Group, L.P. 10-Q on SEC EDGAR · CIK 1002590 · Retail-Retail Stores, NEC

13F: who owns SGU and who is buying

Largest holders of SGU (13F)Largest holders of SGU (13F)Hartree Partners, LP$43.7MBandera Partners LLC$35.3MSummit Trail Advisors, LLC$26.1MLubar$16.6MOakcliff Capital Partners, LP$14.1MRenaissance Technologies LLC$11.3MJoel Isaacson & Co., LLC$2.5MBlackstone$2.1MArrowstreet Capital, Limited Part…$1.7MCrossingbridge Advisors, LLC$1.3M
Funds' net buying of SGU by quarter (13F)Funds' net buying of SGU by quarter (13F)$213K2024-09−$592K2024-12$4.2M2025-03−$10.2M2025-06−$5.5M2025-09−$1.3M2025-12$27.4M2026-03$657K2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on SGU

History

Every quarter: Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results · Q3 FY25 results · Q2 FY25 results · Q4 FY24 results

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