AmeriGas Partners Reports Fiscal 2012 Results
AmeriGas Propane, Inc., general partner of AmeriGas Partners, L.P. (NYSE: APU), reported net income attributable to AmeriGas Partners for the fiscal year ended September 30, 2012 of $11.0 million, compared to net income of $138.5 million for the fiscal year ended September 30, 2011. Net income attributable to AmeriGas Partners for fiscal 2012 includes the impact of a previously reported $13.3 million loss on extinguishments of debt and $46.2 million in acquisition and transition expenses associated with the acquisition of Heritage Propane. Net income attributable to AmeriGas Partners for fiscal 2011 includes the effects of a $38.1 million loss related to extinguishments of debt.
The Partnership’s adjusted earnings before interest expense, income taxes, and depreciation and amortization (Adjusted EBITDA) was $384.3 million for fiscal 2012 compared with $335.3 million in fiscal 2011. Adjusted EBITDA for fiscal 2012 excludes the impact of the loss on extinguishments of debt and acquisition and transition expenses. Adjusted EBITDA for fiscal 2011 excludes the impact of the loss on extinguishments of debt.
Jerry E. Sheridan, chief executive officer of AmeriGas, said, “I am pleased to report results in line with the guidance we issued in March. Although fiscal 2012 will certainly be remembered for its record breaking warmth, we will also look back on it as a year of significant accomplishment, as we completed the largest acquisition in the company’s history and made significant progress integrating two businesses into a new AmeriGas. With our management team and structure now in place and the return of more normal seasonal weather during October, we are hitting the ground running in the new fiscal year. Assuming normal weather patterns continue into the heating season, we are confident in our Adjusted EBITDA guidance of $630 million to $660 million in fiscal 2013 and we look forward to demonstrating the benefits of the acquisition throughout this year.”
Select the service that is right for you!
COMPARE ALL SERVICESAction Alerts PLUS
TRY IT FREEJim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
Product Features:
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Dividend Stock Advisor
TRY IT FREENew! $49.95/yr
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
Product Features:
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Stocks Under $10
TRY IT FREEDavid Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.
Product Features:
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
- Weekly roundups
Real Money
TRY IT FREE24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
Product Features:
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
Real Money Pro
TRY IT FREEAll 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.
Product Features:
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Options Profits
TRY IT FREEOur options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
Product Features:
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV
