AmeriGas Partners, L.P. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended March 31, 2018; Provides Earnings Guidance for the Fiscal Year Ending September 30, 2018
May 02, 2018 at 04:35 pm EDT
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AmeriGas Partners, L.P. reported unaudited consolidated earnings results for the second quarter and six months ended March 31, 2018. For the quarter, the company's revenues were $1,040,332,000 against $863,660,000 a year ago. Operating income was $235,817,000 against $199,864,000 a year ago. Income before income taxes was $194,822,000 against $137,729,000 a year ago. Net income attributable to the company was $191,824,000 against $135,088,000 a year ago. Basic and diluted income per share was $1.44 against $1.14 a year ago. EBITDA was $278,626,000 against $220,737,000 a year ago. Adjusted EBITDA was $309,499,000 against $271,212,000 a year ago. Adjusted net income attributable to the company was $222,697,000 against $185,563,000 a year ago. Maintenance capital expenditures were $11,462,000 against $14,053,000 a year ago. Growth capital expenditures were $12,149,000 against $13,182,000 a year ago.
For the six months, the company's revenues were $1,827,628,000 against $1,540,826,000 a year ago. Operating income was $384,642,000 against $367,495,000 a year ago. Income before income taxes was $303,070,000 against $232,181,000 a year ago. Net income attributable to the company was $296,245,000 against $227,042,000 a year ago. Basic and diluted income per share was $2.41 against $2.04 a year ago. EBITDA was $473,426,000 against $398,167,000 a year ago. Adjusted EBITDA was $503,556,000 against $456,322,000 a year ago. Adjusted net income attributable to the company was $326,375,000 against $285,197,000 a year ago. Maintenance capital expenditures were $21,567,000 against $29,432,000 a year ago. Growth capital expenditures were $25,629,000 against $24,184,000 a year ago.
The company provided earnings guidance for the fiscal year ending September 30, 2018. For the year, the company expects adjusted EBITDA to be in the range of $625,000 to $645,000, interest expense to be in the range of $162,000 to $161,000, depreciation to be $149,000, and amortization to be $40,000.
AmeriGas Partners, L.P. is a holding company. The Company is a retail propane distributor in the United States. It serves approximately two million residential, commercial, industrial, agricultural, wholesale and motor fuel customers in all 50 states from approximately 2,000 propane distribution locations. It operates through the segment that engages in the distribution of propane and related equipment and supplies. The Company conducts its business through its subsidiary, AmeriGas Propane, L.P. The Partnership also sells, installs and services propane appliances, including heating systems, and operates a residential heating, ventilation, air conditioning, plumbing, and related services business in certain counties of Pennsylvania, Delaware, and Maryland. The Partnership operates as an interstate carrier in all states across the continental United States. The Company's AmeriGas Cylinder Exchange program enables consumers to purchase or exchange propane cylinders at retail locations.
AmeriGas Partners, L.P. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended March 31, 2018; Provides Earnings Guidance for the Fiscal Year Ending September 30, 2018