UGI Corporation - UGI STOCK NEWS

UGI Corporation (NYSE: UGI) has appointed Jean Felix (JF) Tematio Dontsop as Vice President, Chief Accounting Officer, and Controller, effective July 19. Tematio Dontsop, aged 45, previously served as Vice President of Internal Audit at West Pharmaceuticals and has extensive experience with PricewaterhouseCoopers in Philadelphia and Paris. He is a certified public accountant with multiple master’s degrees in Finance, Economics, and Accounting from prestigious institutions in France and Cameroon.

UGI Corporation (NYSE: UGI) will host a Virtual Investor Day on June 21, 2021, from 1:00 to 3:00 p.m. ET. Presentations will include insights from Roger Perreault, President and CEO-Elect, alongside other senior management. The focus will be on UGI’s strategic plan, sustainable energy investments, and progress on ESG goals. Interested participants can pre-register online. A replay will be accessible post-event on UGI’s corporate website, allowing stakeholders to catch up on the discussions and insights shared during the investor day.

UGI Corporation (NYSE: UGI) has announced key leadership changes in its Global LPG sector effective June 1. Hugh Gallagher, the current President & CEO of AmeriGas Propane, is appointed Chief Strategy Officer for Global LPG. Paul Ladner, previously COO of UGI International, is named President of AmeriGas Propane, while Laurence Broseta, Vice President of UGI International’s Region West, will be President of UGI International. These appointments aim to enhance operational excellence and drive growth in a competitive landscape.

SHV Energy and UGI International, a subsidiary of UGI Corporation (NYSE: UGI), announced a joint venture to produce Renewable Dimethyl Ether (rDME), a sustainable low-carbon liquid gas. The venture aims to establish up to 6 production plants by 2027, targeting a capacity of 300 kilotons annually with an investment of up to $1 billion. This initiative promotes rDME as an alternative for the LPG industry, reducing GHG emissions by up to 85%. The joint venture seeks to enhance market acceptance and develop infrastructure for safe rDME usage.

UGI Corporation (NYSE: UGI) has announced a public offering of 2,000,000 equity units expected to generate approximately $191.9 million in net proceeds. The funds will be used primarily for the acquisition of Mountaineer Gas Company and other corporate purposes. Each unit includes a stock purchase contract and a 10% interest in new convertible preferred stock. The offering includes a 30-day option for underwriters to purchase an additional 200,000 units. The offering settlement is set for May 25, 2021, and completion is subject to customary conditions.

UGI Corporation (NYSE: UGI) plans to offer 2,000,000 equity units in a public offering, with a 30-day underwriters' option for an additional 200,000 units. The proceeds will fund part of its acquisition of Mountaineer Gas Company and cover related expenses. Each unit, priced at $100, consists of a purchase contract and a 10% interest in a new series of convertible preferred stock. Holders can settle contracts early, affecting the number of common shares issued. The offering is registered with the SEC and will be conducted by major financial institutions.

UGI Corporation (NYSE: UGI) released its third Environmental, Social, and Governance (ESG) report titled, The Foundation of a Renewable Energy Future. The report outlines UGI's plans to reduce Scope I emissions by 55% within five years, aligning with the Paris Climate Accord. Key initiatives include investing in low carbon alternatives like CNG and RNG, and enhancing safety with a 35% reduction in total recordable injuries by 2025. UGI launched the BIDE initiative to boost diversity and promoted community engagement with over 37,000 hours volunteered. CEO John L. Walsh emphasizes UGI's commitment to sustainable energy solutions.

UGI Corporation reported strong fiscal Q2 results for the quarter ending March 31, 2021, with GAAP diluted EPS of $2.33 and adjusted diluted EPS of $1.99, a substantial increase from $1.07 and $1.56 respectively, year-over-year. Year-to-date EPS also rose to $3.77 (GAAP) and $3.17 (adjusted). The company achieved $630 million in EBIT, driven by colder weather, effective margin management, and the recent base rate increases. Cash flow from operations grew by 15%. UGI raised its adjusted EPS guidance to $2.90 - $3.00 for fiscal 2021, underscoring robust performance amid challenges posed by COVID-19.