8/7/2025

speaker
Operator
Conference Operator

Good day and welcome to the STAR Group Fiscal 2025 Third Quarter Results Conference Call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on your touchtone phone. To withdraw your question, please press star then two. Please note, this event is being recorded. I would now like to turn the conference over to Chris Witte, the Investor Relations Advisor. Please go ahead.

speaker
Chris Witte
Investor Relations Advisor

Thank you and good morning. With and on the call today are Jeff Woosnam, President and Chief Executive Officer, and Rich Amberry, Chief Financial Officer. I would now like to provide a brief Safe Harbor Statement. This conference call may include four 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 indicator or implied by such statements. All statements other than statements of historical facts included in this conference call are forward-looking statements. Whether 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 disclosed in this conference call, the company's annual report on Form 10-K for the fiscal year ended September 30, 2024, and the company's other filings of the SEC. All subsequently 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'd now like to turn the call over to Jeff Woosnam. Jeff?

speaker
Jeff Woosnam
President and Chief Executive Officer

Thanks, Chris, and good morning, everyone. Thank you for joining us to discuss our third quarter and fiscal -to-date results. While outside of our core heating season, the third quarter was still negatively impacted by lower volume due to slightly warmer temperatures than last year, along with net customer attrition and other factors. That said, we were pleased with our continued improvement in service and installation performance, and adjusted EBITDA from recent acquisitions positively contributed to the quarter as well as the -to-date period. We believe we are on track for strong financial performance in fiscal 2025. As I've shared on previous calls, we are dedicated to providing our customers with superior service to improve retention and drive additional revenues. Consistent with that objective, we continue to look at ways to sell more value-added products and services to our existing customers, while also expanding our HVAC offerings in select markets beyond our traditional heating oil and propane account base to gain access to a larger audience. To support this initiative, we have made an investment in additional training for our sales and technical teams. Fundamentally, STAR is a service provider, so any effort to improve what truly differentiates us from our competition is a sound investment. We are pleased with the way our team has responded and become engaged in what we are trying to accomplish. And although there is so much work to be done, I am encouraged with our progress to date. As we pursue a strategy that includes growing our heating oil and propane customer base through acquisitions, while at the same time improving service and installation profitability, we believe we are positioning STAR as a fully diversified energy provider that, over time, will be more resilient and adaptable to varied weather conditions. With that, I'll turn the call over to Rich to provide additional comments on the quarter's results. Rich?

Disclaimer

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