AmeriGas Partners Earnings: Here’s Why Investors are Happy Now
AmeriGas Partners LP (NYSE:APU) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 2.86%.
AmeriGas Partners LP Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 11.54% to $1.61 in the quarter versus EPS of $1.82 in the year-earlier quarter.
Revenue: Rose 2.54% to $1.18 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: AmeriGas Partners LP reported adjusted EPS income of $1.61 per share. By that measure, the company missed the mean analyst estimate of $2.47. It missed the average revenue estimate of $1.3 billion.
Quoting Management: Jerry E. Sheridan, chief executive officer of AmeriGas, said, “Heating demand began the quarter on a weak note as the warm weather experienced during December carried into January. However, the business responded as expected once we began to experience a return to more seasonal weather in February and colder-than-normal weather in March. The late season return of normal winter weather helped to offset the impact of the warm January, and we ended the quarter with a nearly 20% increase in volume over the same period last year. Now that the heating season is winding down, we will turn our attention to ACE, our cylinder exchange program, and the final phase of the Heritage Propane integration.”
Key Stats (on next page)…