AmeriGas' Poor Results Highlight Benefit of UGI Acquisition
We are reaffirming our $34 per unit fair value estimate, no moat and negative moat trend ratings for AmeriGas Partners after the partnership reported fiscal 2019 second-quarter adjusted EBITDA of $290.3 million compared with $309.5 million in the same-year ago period. AmeriGas management expects to earn at the low end of its 2019 adjusted EBITDA guidance of $610 million-$650 million.In April, UGI announced a definitive agreement to acquire the remaining shares of AmeriGas it doesn't own. UGI wi...
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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