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    Timothy Mullen • Mullen Capital

    Timothy Mullen's questions to Star Group LP (SGU) leadership

    Timothy Mullen's questions to Star Group LP (SGU) leadership • Q2 2025

    Question

    Timothy Mullen of Laurelton Management inquired about the company's share buyback program, the strategic focus of its acquisition pipeline, and the financial health of its customer base.

    Answer

    Chief Financial Officer Richard Ambury explained that the share buyback program's structure remains unchanged and operates automatically through JPMorgan at a set strike price. President and CEO Jeffrey Woosnam clarified that the acquisition pipeline is focused on heating oil and propane distribution businesses, with a separate, limited organic initiative for HVAC. Regarding consumer credit, CFO Ambury noted that bad debt rates have been historically low and consistent, though the full impact for the season will be clearer after the summer.

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    Timothy Mullen's questions to Star Group LP (SGU) leadership • Q1 2025

    Question

    Timothy Mullen of Mullen Capital inquired about the factors driving the increase in the service and installation business and asked for anecdotal evidence on customer credit quality and payment behavior.

    Answer

    President and CEO Jeffrey Woosnam attributed the service and installation business improvement to both recent acquisitions and an internal initiative focused on productivity and cross-selling. CFO Richard Ambury noted that while there is general economic weakness, lower product costs have provided some relief to customers, and the full impact on credit will be clearer after the heating season.

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