AmeriGas Partners LP Revises Earnings Guidance for the Year Ended September 30, 2016; Provides Earnings Guidance for the Fiscal Year Ending September 30, 2017
October 12, 2016 at 06:05 pm EDT
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AmeriGas Partners LP revised earnings guidance for the year ended September 30, 2016. For the year ended September 30, 2016, the company expects net income attributable to the company to be in the range of $205 million and adjusted EBITDA to be in the range of $540 million. The adjusted EBITDA guidance is below the previous guidance range of $575 million to $600 million. The decrease in the earnings guidance is primarily due to an increase in reserves associated with litigation and general liability matters. Interest expense expects to be $164,000,000. The company expects depreciation of $147,000,000 and amortization of $43,000,000.
For the fiscal year ending September 30, 2017, the company expects adjusted EBITDA of $660,000,000 to $700,000,000, interest expense of $160,000,000 to $159,000,000, depreciation of $141,000,000 and amortization of $43,000,000.
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 LP Revises Earnings Guidance for the Year Ended September 30, 2016; Provides Earnings Guidance for the Fiscal Year Ending September 30, 2017
AMERIGAS PARTNERS, L.P. 