{"id":21975,"date":"2014-05-13T06:01:07","date_gmt":"2014-05-13T10:01:07","guid":{"rendered":"https:\/\/cablemanpro.com\/wallstreetpr\/?p=21975"},"modified":"2014-05-13T06:01:07","modified_gmt":"2014-05-13T10:01:07","slug":"star-gas-partners-l-p-nysesgu-approaches-the-ultimate-tests","status":"publish","type":"post","link":"https:\/\/cablemanpro.com\/wallstreetpr\/star-gas-partners-l-p-nysesgu-approaches-the-ultimate-tests-21975","title":{"rendered":"Star Gas Partners, L.P. (NYSE:SGU) Approaches The Ultimate Tests"},"content":{"rendered":"<p style=\"text-align: justify;\">Boston, MA 05\/13\/2014 (wallstreetpr) \u2013\u00a0<strong>Star Gas Partners, L.P. (NYSE:SGU)<\/strong> is a provider of home heating services. The company recently reported 2Q2014 financial results that smashed a year earlier performance. The company attributed the strong performance to the severe winter condition that increased demand for home heating. However, the company approaches its ultimate test season during which home heating will not be in high demand as was witnessed in the past months.<\/p>\n<p style=\"text-align: justify;\">Though the company acknowledges the tough times ahead, the management is exuding confidence that 2014 will in overall become one of the impressive years in the company\u2019s performance. As such, as non-heating season approaches, CEO Steve Goldman believes that the company can effectively deal with the low demand for heating solutions to achieve positive earnings in 3Q and the rest of the year. The CEO said the company expects to focus on expansion of service offering in the non-heating season to continue attractive performance improvement.<\/p>\n<p style=\"text-align: justify;\"><b>Laying ground for the future<\/b><\/p>\n<p style=\"text-align: justify;\">In addition to expanding service offering, the company also expects to support bottom-line improvement through continued costs and price adjustments in the balance of 2014.<\/p>\n<p style=\"text-align: justify;\">The CEO also said the company expects to use the low-demand-season to lay ground for the future growth. The company already hails its recent acquisition of Griffith Energy that it expects to leverage to support further growth into the future.<\/p>\n<p style=\"text-align: justify;\"><b>Weather impact<\/b><\/p>\n<p style=\"text-align: justify;\">Star Gas Partners, L.P. (NYSE:SGU) benefited from the colder than normal winter that supported strong demand for heating services. As such, in 2Q2014, the company increased its quarterly revenue by almost 14 percent to $892 million against $785 million in 2Q2013. The quarter also witnessed sales volume up almost 15 percent. Therefore, the quarter concluded with a net income of $52.2 million, reflecting an increase of $10.5 million on the same period a year earlier.<\/p>\n<p style=\"text-align: justify;\">In addition to the favorable demand, Star Gas Partners, L.P. (NYSE:SGU) also benefited from the high price of heating oil and propane in the quarter. Furthermore, a strong supply and cheap costs of the commodities also supported margin improvement that led to the positive impact on the bottom-line.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Boston, MA 05\/13\/2014 (wallstreetpr) \u2013\u00a0Star Gas Partners, L.P. (NYSE:SGU) is a provider of home heating services. The company recently reported 2Q2014 financial results that smashed [&hellip;]<\/p>\n","protected":false},"author":32,"featured_media":21976,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[2236],"tags":[5493,5495],"stock_ticker":[],"class_list":["post-21975","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-nysesgu","tag-star-gas-partners-l-p-nysesgu","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Star Gas Partners, L.P. 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