Ugi Corp Stock Price, News & Analysis

UGI Corporation reported its fiscal Q1 results for the quarter ending December 31, 2022, with a GAAP diluted EPS of $(4.54) and adjusted diluted EPS of $1.14, an increase from $(0.46) and $0.93 in the prior period. The reportable segments earned $411 million in EBIT, compared to $348 million a year earlier. A strong liquidity position of approximately $1.2 billion supports the company’s strategy, which includes over $450 million invested in renewable natural gas projects. The CEO noted robust performance from natural gas businesses despite high inflation and weather challenges. Earnings from the Utilities segment rose by $30 million, driven by increased core market volume and colder weather.

The Board of Directors of UGI Corporation (NYSE: UGI) has declared a $0.36 quarterly dividend per share, payable on April 1, 2023, to shareholders on record as of March 15, 2023. UGI has consistently paid common dividends for 138 consecutive years and has raised its dividend for 35 consecutive years. Additionally, a quarterly dividend of 0.125% per annum on the Company’s convertible preferred stock will be paid in cash on March 1, 2023. UGI operates natural gas and electric utilities in Pennsylvania and West Virginia, and distributes energy products both domestically and internationally.

UGI Corporation (NYSE: UGI) is set to announce its first fiscal quarter earnings after market close on February 1, 2023. A live internet audio webcast will follow on February 2, 2023, at 9:00 AM ET to discuss the results. UGI operates natural gas and electric utilities in Pennsylvania and West Virginia, as well as distributing LPG domestically through AmeriGas and internationally through UGI International. The company also manages midstream energy assets and engages in energy marketing, including renewable natural gas.

UGI Corporation has announced a significant investment of approximately $150 million in two new renewable natural gas (RNG) projects in South Dakota. These projects, developed by MBL Bioenergy, are expected to generate around 525 million cubic feet of RNG annually upon completion in 2024. GHI Energy, a subsidiary of UGI, will exclusively market the RNG produced. The initiative is part of UGI's ongoing commitment to reduce greenhouse gas emissions and promote sustainable energy solutions.

UGI Corporation (NYSE: UGI) announced that the sale of its French energy marketing business will not occur in the first quarter of Fiscal 2023, as negotiations ceased. Despite this setback, the company reaffirmed its Fiscal 2023 adjusted diluted EPS guidance of $2.85 - $3.15, including a projected loss of 10 – 12 cents from the European business. UGI remains committed to transitioning away from this segment while targeting 6% - 10% EPS growth and 4% dividend growth in the long term.

UGI Corporation has appointed Robert F. Beard as its new Chief Operations Officer (COO), effective immediately. Beard, who has a strong track record within the company, will oversee both the Global LPG and Natural Gas lines of business. This structural change aims to enhance operational efficiency and customer service while pursuing a cohesive strategy across the company. UGI's leadership believes this move will facilitate better execution of their strategic plan and drive long-term value for shareholders, while focusing on reliability, renewable investment, and portfolio rebalancing.

UGI Corporation (NYSE: UGI) reported GAAP net income of $1,073 million and adjusted net income of $626 million for the fiscal year ending September 30, 2022. This reflects a decline from the prior year's GAAP net income of $1,467 million. GAAP diluted EPS was $4.97, down from $6.92. The company achieved EBIT of $1,166 million, an increase from $1,134 million. UGI announced fiscal 2023 adjusted diluted EPS guidance of $2.85-$3.15, maintaining a long-term growth target of 6%-10%. The firm divested UK energy marketing and plans to sell its French operations.

UGI Corporation (NYSE: UGI) has declared a quarterly dividend of $0.36 per share, payable on January 1, 2023, to shareholders of record as of December 15, 2022. This marks the 138th consecutive year of common dividends and a 35-year streak of increases. Additionally, a dividend of 0.125% per annum will be paid on the Company’s convertible preferred stock on December 1, 2022. UGI operates in energy distribution and marketing across several states and internationally, reinforcing its commitment to shareholder returns.