This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

AmeriGas Issues Earnings Guidance For Fiscal Years 2012 And 2013

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.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs