AmeriGas Partners, L.P. (NYSE: APU) today announced earnings guidance for fiscal years 2012 and 2013. The Partnership expects to report net income attributable to AmeriGas Partners of approximately $6.8 million for its fiscal year ended September 30, 2012. Net income attributable to AmeriGas Partners includes the impact of a previously-reported $13.3 million loss on extinguishment of debt and approximately $46 million in acquisition and transition expenses related to the acquisition of Heritage Propane. Adjusted earnings before interest expense, income taxes, depreciation and amortization (Adjusted EBITDA), is expected to be approximately $382 million for fiscal 2012.
Jerry E. Sheridan, chief executive officer of AmeriGas, said, “We expect Adjusted EBITDA for fiscal 2012 to be in line with our previously-issued guidance. Looking ahead to fiscal 2013, assuming normal weather patterns this coming winter, we expect to report net income attributable to AmeriGas Partners in the range of $244 million to $274 million. This guidance includes the impact of acquisition and transition costs of approximately $20 million that we expect to incur as we complete the Heritage integration next year. Adjusted EBITDA for fiscal 2013, which excludes the impact of the acquisition and transition costs, is expected to be in the range of $630 to $660 million. We look forward to discussing the status of the Heritage Propane integration, the future prospects for our business and this earnings guidance during our presentation at UGI’s Analyst Day tomorrow morning in New York City.” AmeriGas is scheduled to release more detailed results for the fiscal year ended September 30, 2012 on its earnings call on November 8, 2012.
Interested parties may listen to a live audio webcast of UGI Corporation’s Analyst Day with the supporting slide presentation by visiting the company website http://www.ugicorp.com and clicking on Investor Relations. The AmeriGas presentation is scheduled to start at 9:25 am.
Adjusted EBITDA is defined herein as earnings before interest expense, income taxes, depreciation and amortization, losses on extinguishment of debt and Heritage Propane acquisition and transition expenses. Adjusted EBITDA is a non-GAAP financial measure. Management believes the presentation of this measure provides useful information to investors to more effectively evaluate the year-over-year results of operations of the Partnership. This measure is not comparable to measures used by other entities and should only be considered in conjunction with net income attributable to AmeriGas Partners, L.P. A reconciliation of Adjusted EBITDA to the most comparable GAAP financial measure is included on the last page of this press release.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV