<p>Star Group NYSE: SGU 的高管表示，2026 财年开始得 “非常好”，指出低于正常水平的气温、近期收购的贡献以及改善的利润率和成本管理是第一季度业绩强劲的关键驱动因素。</p>
<h2>管理层提到寒冷天气、收购和利润管理</h2>
<p>总裁兼首席执行官 Jeff Woosnam 表示，业绩受益于 “近期收购、实物供应和每加仑利润管理”，以及持续关注服务和安装的盈利能力。他还强调了天气的影响，指出气温比去年第一季度低了近 19%，比正常水平低了 6%。</p>
<p>Woosnam 表示，这些因素的结合，“即使考虑到持续寒冷天气带来的运营挑战”，也促成了调整后 EBITDA 同比增加 1650 万美元，或 32%，扣除与公司天气对冲计划相关的 500 万美元费用。他补充说，期间净客户流失 “适度”。</p>
<p>Woosnam 还表示，寒冷天气持续到第二季度。根据他的评论，1 月份的气温比去年低 2%，比正常水平低 9%。他强调了员工在雪和冰条件下的表现，形容交付环境具有挑战性，但与公司作为 “全方位服务提供商” 的计划一致。</p>
<h2>销量和毛利润上升，服务业绩受到压力</h2>
<p>首席财务官 Rich Ambury 报告称，家庭取暖油和丙烷的销量增加了 1150 万加仑，或 14%，达到约 9400 万加仑。他表示，收购和寒冷天气带来的销量增长部分被净客户流失和其他因素抵消。</p>
<p>产品毛利润增加了约 2900 万美元，或 19%，达到约 1.79 亿美元，Ambury 将此归因于更高的销量和改善的每加仑利润。</p>
<p>服务和安装的业绩表现不一。公司报告称，截至 2025 年 12 月 31 日的季度，服务和安装的综合毛利润为 560 万美元，而去年同期为 690 万美元。Ambury 表示，安装毛利润增加了 140 万美元，但服务毛利润恶化，服务毛利润损失增加了 270 万美元。他将这种恶化归因于寒冷天气期间服务需求高和与增加丙烷罐组相关的额外成本。</p>
<h2>费用上升；天气对冲和更高的交付成本贡献</h2>
<p>Ambury 表示，交付、分支机构和一般管理费用比去年同期增加了 1100 万美元。天气对冲合同占该增加的 500 万美元，因为 2025 年 11 月至 12 月的气温低于合同的行使价格。</p>
<p>交付费用增加了 380 万美元，或 13%，Ambury 表示这 “主要是由于” 取暖油和丙烷销量增加了 14%。他补充说，其他运营成本增加了 220 万美元，约 2%。</p>
<h2>净收入上升，而衍生品公允价值对业绩产生负面影响</h2>
<p>根据 Ambury 的说法，净收入增加了 300 万美元，达到 3600 万美元。他表示，改善反映了调整后 EBITDA 增加 1650 万美元，但部分被衍生工具公允价值的年同比不利变化抵消。</p>
<p>Ambury 指出，在 2026 财年的第一季度，Star Group 记录了与衍生工具公允价值变化相关的 500 万美元非现金费用，而去年同期为 500 万美元的信用。他表示，年同比的波动总计为 1000 万美元。</p>
<p>他还表示，净收入受到更高的折旧和摊销以及更高的净利息费用的负面影响，“仅仅是由于我们更高的收购计划”，总计 170 万美元，以及更高的所得税费用 130 万美元。</p>
<h2>调整后 EBITDA 增加至 6800 万美元；讨论收购管道</h2>
<p>调整后 EBITDA 增加了 1650 万美元，达到 6800 万美元。Ambury 表示，增长主要是由于基础业务的调整后 EBITDA 增加了 1680 万美元，以及近期收购带来的 480 万美元的增加，部分被与天气对冲合同相关的 500 万美元费用增加抵消。</p>
<p>Woosnam 表示，公司在本季度没有完成任何收购，尽管它在 “几天前” 完成了一项小型取暖油业务的收购。他形容在繁忙的取暖季节中，前景活动的 “轻微停滞” 并不罕见，但表示仍有几个机会在审查中，并预计随着公司接近春季会有更多前景。</p>
<p>在结束发言中，Woosnam 表示，公司仍然专注于客户服务、成本控制以及提高服务和安装的盈利能力，并计划在 5 月报告 2026 财年第二季度的业绩。</p>
<h2>关于 Star Group NYSE: SGU</h2>
<p>Star Group, L.P. 及其子公司向美国的住宅和商业客户提供家庭取暖油和丙烷产品及服务。它提供汽油和柴油燃料；并安装、维护和修理取暖和空调设备。截至 2023 年 9 月 30 日，公司服务约 402,200 名全方位服务的住宅和商业家庭取暖油和丙烷客户，以及 52,400 名仅提供交付的客户。它还向约 26,600 名客户销售汽油和柴油燃料。</p>
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<h2>你现在应该投资 1,000 美元在 Star Group 吗？</h2>
<p>在考虑 Star Group 之前，你需要听听这个。</p>
<p>MarketBeat 每天跟踪华尔街顶级评级和表现最佳的研究分析师及其推荐给客户的股票。MarketBeat 已识别出五只顶级分析师悄悄建议客户在更广泛市场注意到之前购买的股票……而 Star Group 并不在名单上。</p>
<p>虽然 Star Group 目前在分析师中获得了买入评级，但顶级分析师认为这五只股票更值得购买。</p>
<p>在这里查看这五只股票</p>

<p>Star Group（纽约证券交易所代码：SGU）在 2026 财年的开局表现强劲，得益于气温下降、收购活动和成本管理的改善。第一季度调整后的息税折旧摊销前利润（EBITDA）增长了 32%，达到 6800 万美元，尽管因天气对冲合同产生了 500 万美元的费用。家庭取暖油和丙烷的销量增长了 14%，净收入增加了 300 万美元，达到 3600 万美元。然而，由于需求旺盛和成本上升，服务毛利润有所下降。公司仍然专注于客户服务和成本控制，计划在 5 月公布第二季度业绩</p>

<p>Star Group NYSE: SGU executives said fiscal 2026 began “very well,” pointing to colder-than-normal temperatures, contributions from recent acquisitions, and improved margin and cost management as key drivers of stronger first-quarter performance.</p>
<div class="lb-trans"><p>Star Group NYSE: SGU 的高管表示，2026 财年开始得 “非常好”，指出低于正常水平的气温、近期收购的贡献以及改善的利润率和成本管理是第一季度业绩强劲的关键驱动因素。</p>
</div><h2>Management cites cold weather, acquisitions, and margin management</h2>
<div class="lb-trans"><h2>管理层提到寒冷天气、收购和利润管理</h2>
</div><p>President and CEO Jeff Woosnam said results benefited from “recent acquisitions, physical supply, and per-gallon margin management,” as well as continued focus on service and installation profitability. He also highlighted the impact of weather, noting temperatures were almost 19% colder than the prior year’s first quarter and 6% colder than normal.</p>
<div class="lb-trans"><p>总裁兼首席执行官 Jeff Woosnam 表示，业绩受益于 “近期收购、实物供应和每加仑利润管理”，以及持续关注服务和安装的盈利能力。他还强调了天气的影响，指出气温比去年第一季度低了近 19%，比正常水平低了 6%。</p>
</div><p>Woosnam said the combination of these factors, “even given the operational challenges associated with persistent cold temperatures,” contributed to a year-over-year increase in adjusted EBITDA of $16.5 million, or 32%, net of a $5 million charge tied to the company’s weather hedge program. He added that net customer attrition was “modest” during the period.</p>
<div class="lb-trans"><p>Woosnam 表示，这些因素的结合，“即使考虑到持续寒冷天气带来的运营挑战”，也促成了调整后 EBITDA 同比增加 1650 万美元，或 32%，扣除与公司天气对冲计划相关的 500 万美元费用。他补充说，期间净客户流失 “适度”。</p>
</div><p>Woosnam also said cold conditions continued into the second quarter. According to his comments, January finished 2% colder than the prior year and 9% colder than normal. He emphasized employee performance amid snow and ice conditions, describing the delivery environment as challenging but consistent with what the company plans for as a “full-service provider.”</p>
<div class="lb-trans"><p>Woosnam 还表示，寒冷天气持续到第二季度。根据他的评论，1 月份的气温比去年低 2%，比正常水平低 9%。他强调了员工在雪和冰条件下的表现，形容交付环境具有挑战性，但与公司作为 “全方位服务提供商” 的计划一致。</p>
</div><h2>Volume and gross profit rose, while service results were pressured</h2>
<div class="lb-trans"><h2>销量和毛利润上升，服务业绩受到压力</h2>
</div><p>Chief Financial Officer Rich Ambury reported that home heating oil and propane volume increased by 11.5 million gallons, or 14%, to about 94 million gallons. He said volume gains from acquisitions and colder temperatures were partially offset by net customer attrition and other factors.</p>
<div class="lb-trans"><p>首席财务官 Rich Ambury 报告称，家庭取暖油和丙烷的销量增加了 1150 万加仑，或 14%，达到约 9400 万加仑。他表示，收购和寒冷天气带来的销量增长部分被净客户流失和其他因素抵消。</p>
</div><p>Product gross profit increased by roughly $29 million, or 19%, to approximately $179 million, which Ambury attributed to higher volume and improved per-gallon margins.</p>
<div class="lb-trans"><p>产品毛利润增加了约 2900 万美元，或 19%，达到约 1.79 亿美元，Ambury 将此归因于更高的销量和改善的每加仑利润。</p>
</div><p>Service and installation performance was mixed. The company reported combined gross profit from service and installations of $5.6 million for the quarter ended December 31, 2025, compared with $6.9 million in the year-ago quarter. Ambury said installation gross profit increased by $1.4 million, but service gross profit worsened, with the service gross profit loss increasing by $2.7 million. He attributed that deterioration to high service demand during colder temperatures and additional costs tied to an increase in propane tank sets.</p>
<div class="lb-trans"><p>服务和安装的业绩表现不一。公司报告称，截至 2025 年 12 月 31 日的季度，服务和安装的综合毛利润为 560 万美元，而去年同期为 690 万美元。Ambury 表示，安装毛利润增加了 140 万美元，但服务毛利润恶化，服务毛利润损失增加了 270 万美元。他将这种恶化归因于寒冷天气期间服务需求高和与增加丙烷罐组相关的额外成本。</p>
</div><h2>Expenses rose; weather hedge and higher delivery costs contributed</h2>
<div class="lb-trans"><h2>费用上升；天气对冲和更高的交付成本贡献</h2>
</div><p>Ambury said delivery, branch, and G&amp;A expenses increased by $11 million versus the prior-year period. Weather hedge contracts accounted for $5 million of that increase because temperatures from November through December 2025 were colder than the contracts’ strike price.</p>
<div class="lb-trans"><p>Ambury 表示，交付、分支机构和一般管理费用比去年同期增加了 1100 万美元。天气对冲合同占该增加的 500 万美元，因为 2025 年 11 月至 12 月的气温低于合同的行使价格。</p>
</div><p>Delivery expenses increased by $3.8 million, or 13%, which Ambury said was “largely due” to the 14% increase in heating oil and propane volume sold. He added that remaining operating costs increased by $2.2 million, or about 2%.</p>
<div class="lb-trans"><p>交付费用增加了 380 万美元，或 13%，Ambury 表示这 “主要是由于” 取暖油和丙烷销量增加了 14%。他补充说，其他运营成本增加了 220 万美元，约 2%。</p>
</div><h2>Net income rose, while derivative fair value moved against results</h2>
<div class="lb-trans"><h2>净收入上升，而衍生品公允价值对业绩产生负面影响</h2>
</div><p>Net income increased by $3 million to $36 million, according to Ambury. He said the improvement reflected the $16.5 million gain in adjusted EBITDA, partially offset by an unfavorable year-over-year change in the fair value of derivative instruments.</p>
<div class="lb-trans"><p>根据 Ambury 的说法，净收入增加了 300 万美元，达到 3600 万美元。他表示，改善反映了调整后 EBITDA 增加 1650 万美元，但部分被衍生工具公允价值的年同比不利变化抵消。</p>
</div><p>Ambury noted that during the first quarter of fiscal 2026, Star Group recorded a $5 million non-cash charge related to changes in the fair value of derivative instruments, compared with a $5 million credit in the prior-year quarter. He said the year-over-year swing totaled $10 million.</p>
<div class="lb-trans"><p>Ambury 指出，在 2026 财年的第一季度，Star Group 记录了与衍生工具公允价值变化相关的 500 万美元非现金费用，而去年同期为 500 万美元的信用。他表示，年同比的波动总计为 1000 万美元。</p>
</div><p>He also said net income was negatively affected by higher depreciation and amortization, as well as higher net interest expense “due solely to our higher acquisition program,” totaling $1.7 million in aggregate, along with higher income tax expense of $1.3 million.</p>
<div class="lb-trans"><p>他还表示，净收入受到更高的折旧和摊销以及更高的净利息费用的负面影响，“仅仅是由于我们更高的收购计划”，总计 170 万美元，以及更高的所得税费用 130 万美元。</p>
</div><h2>Adjusted EBITDA increased to $68 million; acquisition pipeline discussed</h2>
<div class="lb-trans"><h2>调整后 EBITDA 增加至 6800 万美元；讨论收购管道</h2>
</div><p>Adjusted EBITDA rose by $16.5 million to $68 million. Ambury said the increase was driven primarily by a $16.8 million rise in adjusted EBITDA in the base business and a $4.8 million increase from recent acquisitions, partially offset by the $5 million increase in expense related to the weather hedge contracts.</p>
<div class="lb-trans"><p>调整后 EBITDA 增加了 1650 万美元，达到 6800 万美元。Ambury 表示，增长主要是由于基础业务的调整后 EBITDA 增加了 1680 万美元，以及近期收购带来的 480 万美元的增加，部分被与天气对冲合同相关的 500 万美元费用增加抵消。</p>
</div><p>Woosnam said the company did not close any acquisitions during the quarter, though it completed the purchase of a small heating oil business “just a few days ago.” He described a “slight lull” in prospect activity as not unusual during a busy heating season, but said there are still several opportunities under review and he expects additional prospects as the company approaches spring.</p>
<div class="lb-trans"><p>Woosnam 表示，公司在本季度没有完成任何收购，尽管它在 “几天前” 完成了一项小型取暖油业务的收购。他形容在繁忙的取暖季节中，前景活动的 “轻微停滞” 并不罕见，但表示仍有几个机会在审查中，并预计随着公司接近春季会有更多前景。</p>
</div><p>In closing remarks, Woosnam said the company remains focused on customer service, cost control, and growing service and installation profitability, and plans to report fiscal 2026 second-quarter results in May.</p>
<div class="lb-trans"><p>在结束发言中，Woosnam 表示，公司仍然专注于客户服务、成本控制以及提高服务和安装的盈利能力，并计划在 5 月报告 2026 财年第二季度的业绩。</p>
</div><h2>About Star Group NYSE: SGU</h2>
<div class="lb-trans"><h2>关于 Star Group NYSE: SGU</h2>
</div><p>Star Group, L.P., together with its subsidiaries, provides home heating oil and propane products and services to residential and commercial customers in the United States. It offers gasoline and diesel fuel; and installs, maintain, and repairs heating and air conditioning equipment. As of September 30, 2023, the company served approximately 402,200 full service residential and commercial home heating oil and propane customers and 52,400 customers on a delivery only basis. It also sells gasoline and diesel fuel to approximately 26,600 customers.</p>
<div class="lb-trans"><p>Star Group, L.P. 及其子公司向美国的住宅和商业客户提供家庭取暖油和丙烷产品及服务。它提供汽油和柴油燃料；并安装、维护和修理取暖和空调设备。截至 2023 年 9 月 30 日，公司服务约 402,200 名全方位服务的住宅和商业家庭取暖油和丙烷客户，以及 52,400 名仅提供交付的客户。它还向约 26,600 名客户销售汽油和柴油燃料。</p>
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</div><p><em>This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.</em></p>
<div class="lb-trans"><p><em>此即时新闻提醒由叙事科学技术和 MarketBeat 的金融数据生成，旨在为读者提供最快的报道和公正的覆盖。有关此故事的任何问题或评论，请发送至 contact@marketbeat.com.</em></p>
</div><h2>Should You Invest $1,000 in Star Group Right Now?</h2>
<div class="lb-trans"><h2>你现在应该投资 1,000 美元在 Star Group 吗？</h2>
</div><p>Before you consider Star Group, you'll want to hear this.</p>
<div class="lb-trans"><p>在考虑 Star Group 之前，你需要听听这个。</p>
</div><p>MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Star Group wasn't on the list.</p>
<div class="lb-trans"><p>MarketBeat 每天跟踪华尔街顶级评级和表现最佳的研究分析师及其推荐给客户的股票。MarketBeat 已识别出五只顶级分析师悄悄建议客户在更广泛市场注意到之前购买的股票……而 Star Group 并不在名单上。</p>
</div><p>While Star Group currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.</p>
<div class="lb-trans"><p>虽然 Star Group 目前在分析师中获得了买入评级，但顶级分析师认为这五只股票更值得购买。</p>
</div><p>View The Five Stocks Here</p>
<div class="lb-trans"><p>在这里查看这五只股票</p>
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Star Group 第一季度财报电话会议亮点