Ugi Corp - UGI STOCK NEWS

UGI (NYSE: UGI) has appointed Julie Fazio as President of UGI International, effective immediately. Fazio, who joined UGI International in September 2022 as Vice President of Supply, was promoted to Vice President of Region West in December 2023, overseeing LPG businesses in France and Belgium while maintaining her supply function leadership.

Prior to UGI, Fazio held senior leadership positions at ExxonMobil during her 25-year tenure. CEO Bob Flexon highlighted her contributions in optimizing supply chain, streamlining operations, and fostering safety-focused operational excellence. In her new role, Fazio aims to drive disciplined focus and simplicity to unlock greater business value.

UGI (NYSE: UGI) reported its fiscal 2025 first quarter results, with Q1 GAAP diluted EPS of $1.74 and adjusted diluted EPS of $1.37, showing a 14% increase from the adjusted diluted EPS of $1.20 in the prior year. The company's Q1 reportable segments EBIT was $420 million compared to $425 million in the previous year.

Key developments include filing a gas base rate case requesting a $110 million distribution rate increase and AmeriGas Partners' plan to redeem their 2025 Senior Notes through an intercompany loan. The company maintained strong liquidity of $1.5 billion as of December 31, 2024.

The natural gas businesses benefited from strong gas demand and higher rates in West Virginia, while Global LPG businesses maintained comparable volumes with reduced operating expenses. The company is focusing on operational improvements, particularly at AmeriGas Propane, along with disciplined capital allocation and strategic portfolio optimization.

UGI (NYSE: UGI) announced that its Board of Directors has declared a quarterly dividend of $0.375 per share on its common stock. The dividend will be paid on April 1, 2025, to shareholders who are recorded as owners of UGI stock as of March 17, 2025.

Pine Run Gathering, a joint venture between Stonehenge Energy Resources III (51%) and UGI Energy Services (49%), has completed the acquisition of Superior Midstream Appalachian for $120 million. The acquisition includes three gathering systems in Pennsylvania: Pittsburgh Mills, Snow Shoe, and Brookfield.

The acquired systems feature long-term acreage dedications and process approximately 190 million cubic feet per day in combined flow. The Pittsburgh Mills system is connected to UGIES' Big Pine gathering system. The transaction was entirely financed through debt at Pine Run Gathering and is expected to be immediately accretive to earnings.

The acquisition expands UGI's midstream footprint and enhances its reach from producers to end-use customers, demonstrating the company's commitment to growth in the Midstream business.

UGI (NYSE: UGI) has scheduled its Fiscal 2025 first quarter earnings announcement for February 5, 2025, after market close. The company will host a live internet audio webcast conference call to discuss the results on Thursday, February 6, 2025, at 9:00 AM ET.

Investors and interested parties can access the live audio webcast and replay through the company's website at ugicorp.com under the Investors section and Events and Presentations subsection.

UGI (NYSE: UGI) has appointed Michael Sharp as President of AmeriGas Propane, effective December 30, 2024. Sharp joins from Talen Energy, , where he served as Vice President of Asset Management. The appointment aims to drive business performance improvements, with Sharp bringing extensive experience in commodity management, operations, and organizational transformation.

Bob Flexon, President & CEO of UGI , highlighted Sharp's leadership capabilities and track record in transforming organizations, emphasizing his expertise in safety mindset promotion and customer service culture. Sharp's previous roles include Chief Operations Officer at Virgin Islands Water & Power Authority and senior positions at Dynegy and Duke Energy.

UGI reported strong fiscal 2024 results with GAAP net income of $269 million and adjusted net income of $658 million, compared to a GAAP net loss of $(1,502) million in the prior year. The company achieved GAAP diluted EPS of $1.25 and adjusted diluted EPS of $3.06. Notable achievements include a $75 million reduction in operating expenses, deployment of ~$900 million capital with 80% allocated to regulated utilities, and record EBIT of $1,178 million from natural gas businesses. For fiscal 2025, UGI issued adjusted EPS guidance range of $2.75 - $3.05 per diluted share.

UGI (NYSE: UGI) announced that its Board of Directors has declared a quarterly dividend of $0.375 per share on common stock. The dividend will be paid on January 1, 2025, to shareholders who are recorded as owners by December 16, 2024.

UGI (NYSE: UGI) has announced that it will release its fiscal year 2024 earnings results after the market closes on November 21, 2024. The company will host a live internet audio webcast and conference call to discuss these results, along with its financial outlook and other business updates, on Friday, November 22 at 9:00 AM ET.

Interested parties can access the audio webcast both live and in replay format through the company's investor relations website at https://www.ugicorp.com/investors/financial-reports/events-and-presentations or by visiting the main website at https://www.ugicorp.com and navigating to the 'Investors' section, then 'Events and Presentations'.