Amerigas Partners L.p. (APU) Misses Q3 EPS by 8c

After the close, Amerigas Partners L.p. (NYSE: APU) reported Q3 EPS of ($0.47), $0.08 worse than the analyst estimate of ($0.39). Revenue for the quarter came in at $613.2 million versus the consensus estimate of $627.66 million.

Jerry E. Sheridan, chief executive officer of AmeriGas, said, “Our results for the quarter were in line with our expectations given the warmer weather. As we had previously stated, last year’s third quarter results were unusually favorable due to cold spring weather that followed a relatively warm winter. We continue to make significant progress with our growth initiatives. Our National Accounts program experienced a solid quarter with volume up 11%. AmeriGas Cylinder Exchange, our nationwide cylinder exchange program, delivered volume growth of 4% during the third quarter. We continue to make good progress in expanding our exchange program, with more than 1,000 new distribution locations added this year.”

Sheridan continued, “Given our results thus far and our current assessment of business conditions for the remainder of the fiscal year, we continue to anticipate Adjusted EBITDA for fiscal 2014 to be in the range of $660 million to $675 million. We are pleased with the strong performance of the business thus far. Our year to date Adjusted EBITDA of $617 million is just about equal to our Adjusted EBITDA for all of last year. At the low end of our guidance levels, Adjusted EBITDA would be up 7% from last year and would have nearly doubled from just three years ago.”

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

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