Amerigas Partners (APU) Reports Q2 EPS of $1.14

Amerigas Partners (NYSE: APU) reported Q2 EPS of $1.14, versus $1.74 reported last year. Revenue for the quarter came in at $863.66 million, versus $827.49 million reported last year.

Jerry E. Sheridan, president and chief executive officer of AmeriGas, said, “Our operations were clearly impacted by the very warm weather during the quarter. We met this challenge by maintaining our focus on operational efficiency and containing operating expenses. Our teams did a nice job offsetting increases in the cost of fuel with reductions in overtime and travel expenses while continuing to drive improvement in our unit margins. Considering these difficult conditions, we were pleased with the performance of the business in the second quarter. Another significantaccomplishment in the quarter was completing the steps to de-risk our debt structure by extending maturities and lowering average interest rates by over 100 basis points in total. Finally, as was recently announced, our Board approved our 13th consecutive distribution increase for our unitholders, underscoring their confidence in our ability to withstand warm weather in the near-term while focusing on creating long-term, sustainable value for our investors."

Based on the results through the first half of the year, and expectations for the remainder of the year, the company now expects Adjusted EBITDA of $550 million to $580 million for the fiscal year ending September 30, 2017.

For earnings history and earnings-related data on Amerigas Partners (APU) click here.

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