The 10-second takeaway
For the quarter ended March 31 (Q2), AmeriGas Partners missed estimates on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue increased slightly. Non-GAAP earnings per share expanded significantly. GAAP earnings per share grew significantly.
Margins expanded across the board.
AmeriGas Partners reported revenue of $1.18 billion. The five analysts polled by S&P Capital IQ expected net sales of $1.31 billion on the same basis. GAAP reported sales were the same as the prior-year quarter's.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $2.38. The six earnings estimates compiled by S&P Capital IQ averaged $2.48 per share. Non-GAAP EPS of $2.38 for Q2 were 31% higher than the prior-year quarter's $1.82 per share. GAAP EPS of $2.32 for Q2 were 62% higher than the prior-year quarter's $1.43 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 48.3%, 630 basis points better than the prior-year quarter. Operating margin was 21.8%, 420 basis points better than the prior-year quarter. Net margin was 18.7%, 710 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $626.4 million. On the bottom line, the average EPS estimate is -$0.47.
Next year's average estimate for revenue is $3.46 billion. The average EPS estimate is $2.43.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 196 members out of 214 rating the stock outperform, and 18 members rating it underperform. Among 66 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 63 give AmeriGas Partners a green thumbs-up, and three 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 $42.39.
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