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July 03, 2015 12:20 PM ET

Oil, Gas and Consumable Fuels

Company Overview of Amerigas Propane, Inc.

Company Overview

Amerigas Propane, Inc. retails and markets propane to residential, commercial, industrial, and agricultural customers in the United States. It offers propane for use in home heating, space heating, water heating, pool and spa heating, drying, cooking, grilling, motor fuels, drying clothes, building construction sites, filling stations, restaurants, hotels, schools, crematories, vehicles, and forklifts. The company is based in King of Prussia, Pennsylvania with additional locations in the United States. Amerigas Propane, Inc. operates as a subsidiary of AmeriGas, Inc.

460 North Gulph Road

King of Prussia, PA 19406

United States

Phone:

610-337-7000

Fax:

610-768-7647

Key Executives for Amerigas Propane, Inc.

Chief Executive Officer, President and Director
Age: 50
Chief Financial Officer, Vice President of Finance and Treasurer
Age: 52
Chief Operating Officer and Vice President
Age: 52
Vice Chairman, Member of Executive Committee and President of UGI Corporation
Age: 60
General Counsel and Vice President
Age: 55
Compensation as of Fiscal Year 2015.

Amerigas Propane, Inc. Key Developments

Amerigas Propane, Inc. Reports Unaudited Earnings Results for the Second Quarter and Six Months Ended March 31, 2015; Provides Earnings Guidance for the Year Ending September 30, 2015

Amerigas Propane, Inc. reported unaudited earnings results for the second quarter and six months ended March 31, 2015. For the quarter, the company reported revenues of $1,100.317 million compared to $1,493.623 million a year ago. Operating income was $371.681 million compared to $284.922 million a year ago. Capital expenditures were $26.8 million compared to $27.7 million a year ago. Income before income taxes was $330.585 million compared to $242.876 million a year ago. Net income was $329.779 million compared to $242.950 million a year ago. Diluted income per limited partner unit was $2.17 compared to $1.71 a year ago. Net income attributable to AmeriGas Partners, L.P. was $326.055 million compared to $240.103 million a year ago. Adjusted net income attributable to AmeriGas Partners, L.P. was $252.071 million compared to $240.103 million a year ago. Adjusted EBITDA was $342.088 million compared to $331.232 million a year ago. For the six months, the company reported revenues of $1,989.109 million compared to $2,539.449 million a year ago. Operating income was $374.021 million compared to $464.615 million a year ago. Income before income taxes was $291.891 million compared to $380.979 million a year ago. Net income was $290.215 million compared to $379.622 million a year ago. Diluted income per limited partner unit was $2.36 compared to $2.84 a year ago. Net income attributable to AmeriGas Partners, L.P. was $286.484 million compared to $375.001 million a year ago. Adjusted net income attributable to AmeriGas Partners, L.P. was $349.334 million compared to $375.001 million a year ago. Adjusted EBITDA was $530.623 million compared to $561.473 million a year ago. For the fiscal year ending September 30, 2015, the company expects adjusted net income attributable to AmeriGas Partners, L.P. of $286,000, interest expense of $163,000, income tax expense of $4,000, depreciation of $154,000, amortization of $43,000 and adjusted EBITDA of $650,000.

Amerigas Propane, Inc. Announces Executive Changes

Amerigas Propane, Inc. announced that Tony Rosback, age 52, will succeed Paul Grady as vice president and chief operating officer, effective March 23, 2015. As previously announced, Grady retired from the company on January 16, 2015. Rosback most recently served as Senior Director, West Region Operations and North American Logistics of Williams Scotsman, Inc. Prior to joining Williams Scotsman, Inc., Rosback was Senior Vice President & General Manager of the West Region at The Brickman Group Ltd. Previously, Rosback served in executive and operations leadership roles in various companies, including Republic Services, Inc. from 2006 to 2013 and Cintas Corporation from 1999 to 2006.

Amerigas Propane, Inc. Reports Earnings Results for the First Quarter Ended December 31, 2014; Provides Guidance for the Year 2015

Amerigas Propane, Inc. reported earnings results for the first quarter ended December 31, 2014. For the quarter, the company reported revenues of $888.79 million, compared to $1.04 billion for the same quarter ended December 31, 2013. Operating income was $2.34 million, compared to $179.69 million for the same quarter ended December 31, 2013. Loss before income taxes was $38.69 million, compared to an income before income taxes of $138.1 million for the same quarter ended December 31, 2013. Net loss attributable to the company was $45.71 million, or $0.49 loss per compared with $128.16 million, or $1.14 per limited partner unit, for the same quarter ended December 31, 2013. For the year 2015, the company expects adjusted EBITDA in the range of $635 million to $665 million for the fiscal year ending September 30, 2015. The midpoint of this guidance is approximately 2% below the EBITDA delivered in fiscal 2014.

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