AmeriGas Partners, L.P. Reports Unaudited Earnings Results for the Fourth Quarter and Year Ended December 31, 2017
January 31, 2018 at 04:17 pm EST
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AmeriGas Partners, L.P. reported unaudited earnings results for the fourth quarter and year ended December 31, 2017. For the quarter, revenues were $787,296,000 against $677,166,000 a year ago. Operating income was $148,825,000 against $167,631,000 a year ago. Income before income taxes was $108,248,000 against $94,452,000 a year ago. Net income attributable to AmeriGas Partners, L.P. was $104,421,000 against $91,954,000 a year ago. Income per limited basic and diluted partner unit was $0.97 against $0.87 a year ago. EBITDA was $194,800,000 against $177,430,000 a year ago. Adjusted EBITDA was $194,057,000 against $185,110,000 a year ago. The prior year results include a one-time noncash charge for the correction of a previously recorded gain on asset sales that reduced the EBITDA by $8.8 million. Adjusted net income attributable to AmeriGas Partners, L.P. was $103,678,000 against $99,634,000 a year ago. Maintenance capital expenditures were $10,105,000 against $15,379,000 a year ago. Growth capital expenditures were $13,480,000 against $11,002,000 a year ago.
For the year, revenues were $2,563,625,000 against $2,344,885,000 a year ago. Operating income was $369,052,000 against $466,114,000 a year ago. Income before income taxes was $181,699,000 against $220,976,000 a year ago. Net income attributable to AmeriGas Partners, L.P. was $174,526,000 against $217,965,000 a year ago. Income per limited basic and diluted partner unit was $1.37 against $1.87 a year ago. EBITDA was $532,194,000 against $564,802,000 a year ago. Adjusted EBITDA was $560,221,000 against $550,383,000 a year ago. Adjusted net income attributable to AmeriGas Partners, L.P. was $202,553,000 against $203,546,000 a year ago. Maintenance capital expenditures were $46,760,000 against $54,568,000 a year ago. Growth capital expenditures were $48,608,000 against $45,532,000 a year ago.
AmeriGas Partners, L.P. is a holding company. The Company is a retail propane distributor in the United States. It serves approximately two million residential, commercial, industrial, agricultural, wholesale and motor fuel customers in all 50 states from approximately 2,000 propane distribution locations. It operates through the segment that engages in the distribution of propane and related equipment and supplies. The Company conducts its business through its subsidiary, AmeriGas Propane, L.P. The Partnership also sells, installs and services propane appliances, including heating systems, and operates a residential heating, ventilation, air conditioning, plumbing, and related services business in certain counties of Pennsylvania, Delaware, and Maryland. The Partnership operates as an interstate carrier in all states across the continental United States. The Company's AmeriGas Cylinder Exchange program enables consumers to purchase or exchange propane cylinders at retail locations.