How the Wheels Came Off AmeriGas Partners' Bus

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AmeriGas Partners (NYS: APU) reported earnings on Jan. 25. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended Dec. 31 (Q1), AmeriGas Partners missed on revenues and whiffed on earnings per share.

Compared to the prior-year quarter, revenue shrank slightly, and earnings per share dropped significantly.

Margins dropped across the board.

Revenue details
AmeriGas Partners chalked up revenue of $683.8 million. The four analysts polled by S&P Capital IQ predicted a top line of $715.1 million. Sales were 2.3% lower than the prior-year quarter's $700.2 million.

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Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions.

EPS details
EPS came in at $0.55. The four earnings estimates compiled by S&P Capital IQ anticipated $1.12 per share. GAAP EPS of $0.55 for Q1 were 48% lower than the prior-year quarter's $1.06 per share.

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Source: S&P Capital IQ. Quarterly periods. Figures may be non-GAAP to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 35.1%, 270 basis points worse than the prior-year quarter. Operating margin was 8.8%, 430 basis points worse than the prior-year quarter. Net margin was 6.2%, 450 basis points worse than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $1.31 billion. On the bottom line, the average EPS estimate is $2.25.

Next year's average estimate for revenue is $3.13 billion. The average EPS estimate is $2.23.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 193 members out of 211 rating the stock outperform, and 18 members rating it underperform. Among 68 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 63 give AmeriGas Partners a green thumbs-up, and five give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on AmeriGas Partners is hold, with an average price target of $45.43.

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At the time this article was published Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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