Amerigas Reduces Full-Year Guidance on Volatile Weather but No FVE Impact
We are reaffirming our $46 per unit fair value estimate, narrow moat, and stable moat trend ratings for AmeriGas Partners after the partnership delivered $309.5 million in adjusted EBITDA in the second quarter of fiscal year 2018, up from $271.2 million in the same year-ago period.However, management lowered its fiscal-year 2018 adjusted EBITDA guidance range to $625 million-$645 million from the prior range of $650 million-$690 million primarily because of unfavorable warm weather in February....
AmeriGas Partners is a holding company. Through its operating partnership, AmeriGas Propane, L.P., the company is engaged as a retail propane distributor. The company serves residential, commercial, industrial, agricultural, wholesale and motor fuel customers from several propane distribution locations. In addition to distributing propane, the company also sells, installs and services propane appliances, including heating systems and propane-powered generators. As part of its overall transportation and distribution infrastructure, the company operates as an interstate carrier throughout the continental U.S.
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