UGI Corporation - UGI STOCK NEWS

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'.

UGI (NYSE: UGI) has announced the appointment of Robert C. Flexon as President and Chief Executive Officer, effective November 1, 2024. Flexon will replace Mario Longhi, who has been serving as Interim President and CEO since December 2023. Longhi will resume his role as an independent director and non-executive chair of UGI's Board of Directors.

Flexon, 66, brings extensive leadership and industry experience to UGI. He previously served as UGI's Chief Financial Officer from February to July 2011. His career includes roles as CEO of Dynegy Inc., Foster Wheeler AG, and interim CEO of Capstone Green Energy Holdings, Inc. Flexon will step down from his current position as Chair of PG&E 's Board of Directors to assume his new role at UGI.

UGI (NYSE: UGI) has announced the appointment of Melanie Ruiz and David Bingenheimer to its Board of Directors, effective November 1, 2024. Ms. Ruiz, currently the Chief Information and Technology Officer at ABM Industries, brings extensive experience in enterprise-wide technology strategy and cybersecurity. Mr. Bingenheimer serves as Executive Vice President and General Manager of Ecolab Digital at Ecolab Inc., with a strong background in digital information and technology leadership.

Mario Longhi, UGI's Interim President, CEO, and Board Chairman, expressed confidence that the new directors' expertise in IT, strategy, and operations will significantly contribute to UGI's long-term strategy. Both appointees have held senior technology roles in various industries, enhancing the board's capabilities in digital transformation and technological innovation.

UGI (NYSE: UGI) has announced the election of Tina Faraca to its Board of Directors, effective August 7, 2024. Ms. Faraca, currently serving as Executive Vice President and President of U.S. Natural Gas Pipelines at TC Energy , brings extensive experience in energy infrastructure and strategic planning. Her appointment is expected to bolster UGI's leadership with her industry expertise and operational knowledge.

Prior to her role at TC Energy, Ms. Faraca held key positions at Enable Midstream Partners and Enbridge, showcasing a strong background in commercial operations and strategic development within the energy sector. UGI's Interim President and CEO, Mario Longhi, expressed confidence that Ms. Faraca's experience will be a valuable asset to the company's board.

UGI (NYSE: UGI) reported its fiscal 2024 third quarter results, showing improvement over the prior year. Q3 GAAP diluted EPS was $(0.23) and adjusted diluted EPS was $0.06, compared to $(3.76) and $0.00 respectively in the prior-year period. Year-to-date GAAP diluted EPS reached $2.52 and adjusted diluted EPS was $3.22, up from $(7.78) and $2.81 in the previous year. The company achieved a $38 million year-over-year reduction in operating and administrative expenses across all segments. UGI refinanced over $1 billion of debt and completed approximately $460 million of debt reduction at AmeriGas Propane. The company maintains its fiscal 2024 adjusted diluted EPS guidance range of $2.70 - $3.00 per share.

UGI (NYSE: UGI) has announced a quarterly dividend of $0.375 per share on its common stock. The dividend is set to be paid on October 1, 2024, to shareholders who are on record as of September 16, 2024. This declaration by UGI's Board of Directors demonstrates the company's commitment to providing regular returns to its shareholders. The dividend announcement is a key piece of information for current and potential investors, as it reflects the company's financial health and shareholder value strategy.

UGI (NYSE: UGI) has released its 2023 ESG report titled, The Journey: Managing Climate Risks and Opportunities. The report reveals a 50% reduction in Scope I (direct) emissions, with a target of 55% by 2025. UGI also achieved a 25% increase in spend with diverse Tier I and Tier II suppliers, meeting this goal two years early. The report highlights alignment with several United Nations Sustainable Development Goals and showcases recent ESG recognitions, including maintaining an AAA MSCI rating, a 'B' ranking from the Carbon Disclosure Project (CDP), and an upgrade to Medium-Risk from Morningstar Sustainalytics. Interim CEO Mario Longhi expressed UGI's commitment to evaluating climate risks and opportunities, aiming to innovate and improve services for customers, investors, and employees.