Earnings per Limited Partner Units

12 Months Ended

Sep. 30, 2025

19) Earnings per Limited Partner Units

The following table presents the net income allocation and per unit data:


Basic and Diluted Earnings Per Limited Partner:	Years Ended September 30,
(in thousands, except per unit data)	2025		2024		2023
Net income	$	73,495	$	35,223	$	31,945
Less General Partners’ interest in net income		677		311		288
Net income available to limited partners		72,818		34,912		31,657
Less dilutive impact of theoretical distribution of earnings *		10,352		3,125		2,600
Limited Partner’s interest in net income	$	62,466	$	31,787	$	29,057
Per unit data:
Basic and diluted net income available to limited partners	$	2.12	$	0.99	$	0.89
Less dilutive impact of theoretical distribution of earnings *		0.30		0.09		0.08
Limited Partner’s interest in net income	$	1.82	$	0.90	$	0.81
Weighted average number of Limited Partner units outstanding		34,276		35,273		35,694

* In any accounting period where the Company’s aggregate net income exceeds its aggregate distribution for such period, the Company is required to present net income per limited partner unit as if all of the earnings for the period were distributed, based on the terms of the Partnership agreement, regardless of whether those earnings would actually be distributed during a particular period from an economic or practical perspective. This allocation does not impact the Company’s overall net income or other financial results.

STAR GROUP, L.P. 10-K