Amerigas Partners, L.P. Announces Unaudited Earnings Results for the Third Quarter and Nine Months Ended June 30, 2017; Provides Earnings Guidance for the Fiscal Year Ending September 30, 2017
August 02, 2017 at 06:15 pm EDT
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AmeriGas Partners, L.P. announced unaudited earnings results for the third quarter and nine months ended June 30, 2017. For the quarter, the company's revenues were $467,496,000 against $446,684,000 a year ago. Operating loss was $1,137,000 against operating income of $46,204,000 a year ago. Loss before income taxes was $46,148,000 against $31,720,000 a year ago. Net loss attributable to the company was $46,752,000 against $33,069,000 a year ago. Basic and diluted income per share was $0.62 against $0.46 a year ago. EBITDA was $40,612,000 against $55,086,000 a year ago. Adjusted EBITDA was $58,421,000 against $64,603,000 a year ago. Adjusted net loss attributable to the company was $28,943,000 against $23,552,000 a year ago. Maintenance capital expenditures were $10,422,000 against $9,985,000 a year ago. Growth capital expenditures were $10,473,000 against $8,700,000 a year ago.
For the nine months, the company's revenues were $2,008,322,000 against $1,918,269,000 a year ago. Operating income was $366,358,000 against $460,207,000 a year ago. Income before income taxes was $186,033,000 against $300,452,000 a year ago. Net income attributable to the company was $180,290,000 against $293,812,000 a year ago. Basic and diluted income per share was $1.56 against $2.80 per diluted share a year ago. EBITDA was $438,779,000 against $561,623,000 a year ago. Adjusted EBITDA was $514,740,000 against $537,661,000 a year ago. Adjusted net income attributable to the company was $256,251,000 against $269,850,000 a year ago. Maintenance capital expenditures were $39,854,000 against $36,275,000 a year ago. Growth capital expenditures were $34,657,000 against $38,197,000 a year ago.
Based on the results through the first nine months of the year, and expectations for the fourth quarter, the company now expects Adjusted EBITDA in the range of $550 million for the fiscal year ending September 30, 2017. The company also expected interest expense of $160 million, income tax expense of $2 million, depreciation of $138 million and amortization of $42 million.
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. Announces Unaudited Earnings Results for the Third Quarter and Nine Months Ended June 30, 2017; Provides Earnings Guidance for the Fiscal Year Ending September 30, 2017
AMERIGAS PARTNERS, L.P. 
