Star Gas Partners, L.P. (NYSE:SGU) Q4 2019 Earnings Conference Call - Final Transcript

Dec 06, 2019 • 11:00 am ET


Star Gas Partners, L.P. (NYSE:SGU) Q4 2019 Earnings Conference Call - Final Transcript


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Good day, everyone, and welcome to Star Group's Fiscal 2019 Fourth Quarter Conference Call. All participants will be in a listen-only mode. [Operator Instructions] Please also note, today's event is being recorded.

At this time, I'd like to turn the conference call over to Mr. Chris Witty, the Investor Relations moderator. Please go ahead.

Chris Witty

Thank you and good morning. With me on the call today are Jeff Woosnam, Chief Executive Officer; and Rich Ambury, Chief Financial Officer. I would now like to provide a brief safe harbor statement. This conference call may include forward-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 indicated or implied by such statements. All statements other than statements of historical facts. Included in this conference call are forward-looking statements.

Although 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 and in the company's Annual Report and Form 10-K for the fiscal year ended September 30th, 2019.

All subsequent written and oral forward-looking statements attributable to the company or persons acting on its behalf are expressly qualified in their entirety by the cautionary statements, unless otherwise required by law, the Company undertakes no 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?

Jeffrey M. Woosnam

Thanks, Chris, and good morning everyone. Thank you for joining us to discuss our quarterly and year-end financial results. As we turn the corner on fiscal 2019. I am pleased to report the great progress we're making as a new management team. We spent the past several months, evaluating and adjusting our operating platform with the goal of reducing unnecessary overhead expenses while reinvesting in and strengthening areas that will allow us to deliver the best customer experience possible, and ultimately improves Star's value proposition.

I'm optimistic that as we head into the new heating season, we're better prepared and aligned as an organization to meet our goals with a renewed sense of focus on being the premier service provider in the energy industry. As part of our efforts, we've placed a great deal of emphasis on improving our operational execution and efficiency.

I am pleased to report that in the fourth quarter, we began to see indications, albeit over a small sample size that these efforts coupled with some of our streamlined initiatives are producing the desired result of reducing certain expenses. Maximizing operating performance is not only good for our business, but it can also improve customer responsiveness in our overall quality of service.

Reducing net customer attrition remains a top priority for