Oil, Gas and Consumable Fuels
Company Overview of Amerigas Propane, Inc.
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
Key Executives for Amerigas Propane, Inc.
Chief Operating Officer and Vice President
General Counsel and Vice President
Compensation as of Fiscal Year 2014.
Amerigas Propane, Inc. Key Developments
Amerigas Propane, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended September 30, 2014; Provides Earnings Guidance for the Year Ending September 30, 2015
Nov 17 14
Amerigas Propane, Inc. reported earnings results for the fourth quarter and full year ended September 30, 2014. The company has reported that limited partners' interest in net loss attributable to the company for the fourth quarter ended September 30, 2014 was $53.41 million, or $0.58 loss per unit, compared to a limited partners' interest in net loss attributable to the company of $58.91 million, or $0.63 loss per unit, for the same quarter ended September 30, 2013. Revenues for the fourth quarter ended September 30, 2014 were $560.25 million, compared to $531.97 million for the same quarter ended September 30, 2013.
Limited partners' interest in net income attributable to the company for the year ended September 30, 2014 was $263.14 million, or $2.82 per unit, compared to $199.72 million, or $2.14 per unit, for the year ended September 30, 2013. Revenues for the year ended September 30, 2014 were $3.71 billion, compared to $3.17 billion for the year ended September 30, 2013. The company delivered strong financial results, generating $665 million of adjusted EBITDA, nearly doubling the earnings of AmeriGas from two years ago, while returning distribution coverage and leverage ratios to the more conservative levels at which historically run the business.
The company expects to report adjusted EBITDA in the range of $670 million to $700 million and net income in the range of $308 million to $338 million for the fiscal year ending September 30, 2015.
Amerigas Propane, Inc. Announces Unaudited Earnings Results for the Third Quarter Ended June 30, 2014
Jul 29 14
Amerigas Propane, Inc. announced unaudited earnings results for the third quarter ended June 30, 2014. For the quarter, revenues were $613.2 million, partnership EBITDA was $55.0 million, operating income was $7.2 million and capital expenditures was $29.3 million against revenues of $581.7 million, partnership EBITDA of $56.3 million, operating income of $3.8 million and capital expenditures of $26.3 million for the same period a year ago. Operating income increased in the period primarily reflecting lower depreciation expense. Excluding the Heritage transition expenses, operating income increased $7.8 million in the 2014 three-month period primarily reflecting higher payroll and benefits, general insurance and advertising expenses.
R. Paul Grady to Retire as Vice President and Chief Operating Officer of AmeriGas Propane, Inc
Jul 16 14
On July 15, 2014, R. Paul Grady, Vice President and Chief Operating Officer of AmeriGas Propane, Inc. indicated his intention to retire in early calendar year 2015. Mr. Grady has served as principal operating officer of the company since 2012.
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