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February 07, 2016 6:15 AM ET

Oil, Gas and Consumable Fuels

Company Overview of Amerigas Propane, Inc.

Company Overview

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

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
Executive Chairman, President of Ugi Corporation and Member of Executive Committee
Age: 60
Vice President, General Counsel and Secretary
Age: 53
Compensation as of Fiscal Year 2015.

Amerigas Propane, Inc. Key Developments

Amerigas Propane Reports Earnings Results for the First Quarter Ended December 31, 2015

Amerigas Propane reported earnings results for the first quarter ended December 31, 2015. For the period, the company’s revenues were $644.1 million against $888.8 million a year ago. Partnership Adjusted EBITDA was $177.7 million against $188.5 million a year ago. Operating income was $129.6 million against $139.7 million a year ago. Capital expenditures were $28.0 million against $30.4 million a year ago.

AmeriGas Propane, Inc. Announces Board Changes, Effective January 27, 2016

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

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.

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