LONDON, UK / ACCESSWIRE / February 20, 2018 / Active-Investors.com has just released a free earnings report on AmeriGas Partners, L.P. (NYSE: APU) ("AmeriGas"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=APU. The Company posted its financial results on January 31, 2018, for the first quarter of the fiscal year 2018 (Q1 FY18). The Valley Forge, Pennsylvania-based Company's total revenues grew on a y-o-y basis, outperforming market consensus estimates. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, AmeriGas Partners most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
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Earnings Highlights and Summary
For the three months ended December 31, 2017, AmeriGas reported revenues of $787.30 million, which came in above the $677.17 million recorded at the end of Q1 FY17. The Company's total revenue numbers topped market forecasts of $774.6 million. The Company's propane revenues increased to $711.46 million in Q1 FY18 from $604.06 million in Q1 FY17; while its other revenues rose to $75.83 million in Q1 FY18 from $73.11 million in the prior year's same period.
The retail propane marketer recorded a net income attributable to common shareholders of $104.42 million, or $0.97 per diluted share, in Q1 FY18 which came in above $91.95 million, or $0.87 per diluted share, in Q1 FY17; but missed Wall Street's expectations of $1.19 per diluted share. Meanwhile, the Company's adjusted net income attributable to common shareholders increased to $103.68 million in Q1 FY18 from $99.63 million in Q1 FY17.
Operational Metrics
In the reported quarter, AmeriGas' propane cost of sales was $344.35 million versus $214.41 million in the previous year's comparable quarter. The Company's operating and administrative expenses increased to $230.34 million in Q1 FY18 from $226.80 million in Q1 FY17. The Company posted an operating income of $148.83 million in Q1 FY18 versus $167.63 million in Q1 FY17. The Company's adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) grew to $194.06 million during Q1 FY18 from $185.11 million in Q1 FY17. For Q1 FY17, the Company's adjusted EBITDA included a previously-reported charge of $8.8 million to correct gains on sales of certain assets related to the Heritage Propane acquisition.
During Q1 FY18, Cylinder Exchange volume increased 9% y-o-y, while National Accounts volume increased 7% y-o-y. However, unit margins increased by $0.01 in Q1 FY18, despite Mont. Belvieu prices rising 64% y-o-y.
Cash Flow and Balance Sheet
During the first three months ended December 31, 2017, AmeriGas generated cash from operations of $1.82 million versus $33.04 million in the prior year's corresponding quarter. The Company had $7.20 million in cash and cash equivalents as on December 31, 2017, compared to $9.25 million as on December 31, 2016. Additionally, the Company's long-term debt standing was $2.56 billion as on December 31, 2017, versus $2.52 billion as on December 31, 2016.
Dividend
In a separate press release on January 24, 2018, AmeriGas' Board of Directors declared a quarterly partnership distribution of $0.95 per limited partnership unit, payable on February 20, 2018, to unitholders of record as on February 09, 2018.
Stock Performance Snapshot
February 16, 2018 - At Friday's closing bell, AmeriGas Partners' stock was slightly down 0.67%, ending the trading session at $43.29.
Volume traded for the day: 223.48 thousand shares, which was above the 3-month average volume of 191.66 thousand shares.
Stock performance in the previous six-month period - up 0.42%
After last Friday's close, AmeriGas Partners' market cap was at $4.05 billion.
Price to Earnings (P/E) ratio was at 31.39.
The stock has a dividend yield of 8.78%.
The stock is part of the Utilities sector, categorized under the Gas Utilities industry. This sector was up 0.7% at the end of the session.
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