Oil, Gas and Consumable Fuels
Company Overview of Amerigas Propane, Inc.
Amerigas Propane, Inc. markets retail propane to residential, commercial, industrial, agricultural, and motor fuel propane customers in the United States. It offers propane for various uses, including home heating, space heating, water heating, pool and spa heating, drying, cooking, grilling, and motor fuel. The company is based in King of Prussia, Pennsylvania with distribution locations in the United States. Amerigas Propane, Inc. operates as a subsidiary of AmeriGas, Inc.
460 North Gulph Road
King of Prussia, PA 19406
Key Executives for Amerigas Propane, Inc.
Chief Executive Officer, President and Director
Chief Financial Officer, Vice President of Finance and Treasurer
Chief Operating Officer and Vice President
Vice Chairman, Member of Executive Committee and President of UGI Corporation
Chief Accounting Officer and Controller
Compensation as of Fiscal Year 2015.
Amerigas Propane, Inc. Key Developments
AmeriGas Propane, Inc. Announces Board Changes, Effective January 27, 2016
Nov 20 15
On November 16, 2015, Lon R. Greenberg informed the Corporate Governance Committee of the Board of Directors of the AmeriGas Partners, L.P.'s general partner, AmeriGas Propane, Inc. (the "General Partner"), of his intent to retire as the General Partners Non-Executive Chairman of the Board of Directors, effective January 27, 2016. Mr. Greenberg has served as the General Partners Non-Executive Chairman of the Board of Directors since 2013 and previously served as the Boards Executive Chairman from 1996 to 2013. He served as the Chief Executive Officer of UGI Corporation, the parent of the General Partner, from 1995 until his retirement in 2013. The General Partners current Vice Chairman, John L. Walsh will serve as Executive Chairman of the Board of Directors, effective upon Mr. Greenbergs retirement. Mr. Walsh has served as a Director and Vice Chairman of the General Partners Board of Directors since 2005. Marvin O. Schlanger will continue to serve as the Boards Presiding Director.
AmeriGas Propane Reports Unaudited Earnings Results for the Fourth Quarter and Year Ended September 30, 2015
Nov 10 15
AmeriGas Propane reported unaudited earnings results for the fourth quarter and year ended September 30, 2015. For the quarter, the company reported revenues of USD 418.2 million compared to USD 560.2 million a year ago. Operating loss was USD 9.8 million compared to operating income of USD 0.3 million a year ago. Net loss attributable to the company was USD 1.0 million compared to USD 3.4 million a year ago.
For the year, the company reported total revenue of USD 2,885.3 million compared to USD 3,712.9 million a year ago. Operating income was USD 427.6 million compared to USD 472.0 million a year ago. Net income attributable to the company was USD 61.0 million compared to USD 63.0 million a year ago. Partnership adjusted EBITDA was USD 619.2 million compared to USD 664.8 million a year ago. Capital expenditures were USD 102.0 million compared to USD 113.9 million a year ago. Revenues decreased primarily due to lower propane costs and the lower volume; average daily wholesale prices at Mont Belvieu, Texas in fiscal 2015 were approximately 50% lower than fiscal 2014. The decrease in Partnership Adjusted EBITDA primarily reflects the lower total margin partially offset by lower operating and administrative expenses.
AmeriGas Propane, Inc. Declares Quarterly Partnership Distribution, Payable on November 18, 2015
Oct 27 15
The Board of Directors of AmeriGas Propane, Inc. has declared a quarterly partnership distribution of $0.92 per limited partnership unit, payable November 18, 2015 to unitholders of record November 10, 2015.
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