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UGI (UGI) - 2023 Q1 - Quarterly Report
2023-02-02 22:22
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission file number 1-11071 UGI CORPORATION (Exact name of registrant as specified in its charter) Pennsylvania 23-2668356 ( ...
UGI (UGI) - 2023 Q1 - Earnings Call Transcript
2023-02-02 17:27
Financial Data and Key Metrics Changes - UGI reported adjusted diluted EPS of $1.14 for Q1 2023, an increase from $0.93 in the prior-year period, reflecting a $63 million increase in EBIT over the prior-year period [4][9] - The adjusted diluted EPS would have been $0.08 higher without the noncore energy marketing business [4] - The company had available liquidity of $1.2 billion at the end of the quarter, with strong cash flows generated [19] Business Line Data and Key Metrics Changes - AmeriGas reported EBIT of $110 million, up from $86 million in the prior-year period, despite a 2% decline in retail volume due to staffing shortages [12] - UGI International's EBIT decreased to $66 million from $82 million, attributed to lower volume in the European LPG business and significantly warmer weather [13] - The Midstream and Marketing segment reported EBIT of $107 million, an increase of $25 million over the prior year, benefiting from colder weather and increased margins from natural gas marketing activities [15][16] - The Utilities segment had EBIT of $128 million, $30 million higher than the prior year, driven by a 17% increase in core market volume due to colder weather [17] Market Data and Key Metrics Changes - The warmer weather in Europe led to an 18% decline in retail LPG volumes year-over-year for UGI International [13] - The company experienced elevated inflationary pressures, particularly in personnel-related costs, impacting overall expenses [11][14] Company Strategy and Development Direction - UGI is focused on a 3R strategy: delivering reliable earnings growth, investing in renewables, and rebalancing the portfolio [20] - The company has committed over $450 million to renewable projects and aims for 6% to 10% EPS growth and 4% dividend growth over the long term [8] - A strategic growth project at AmeriGas is aimed at enhancing customer experience and operational efficiencies [7] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges posed by sustained inflationary pressures and geopolitical tensions but expressed confidence in the company's ability to manage these headwinds [20] - The company plans to provide updated guidance at the end of the second quarter, with expectations for continued monitoring of weather impacts [22][23] Other Important Information - UGI Utilities filed a request to increase rates by approximately $11 million to fund ongoing system improvements [6] - The company is also working on bio LPG projects and renewable dimethyl ether as part of its renewable strategy [28] Q&A Session Summary Question: Context around Q1 relative to guidance expectations - Management indicated that Q1 was solid, with some upside due to margin management efficiencies, but did not provide specific guidance for the second quarter yet [21][22] Question: Dynamics in Midstream and Marketing segment - Management noted that December's severe weather volatility contributed to additional benefits, but it is uncertain if this will carry into Q2 [24] Question: Mountaineer gas rate case timeline - Management confirmed plans to file a rate case but did not predict whether it would be effective in FY 2023 or calendar 2023 [25][26] Question: Scale of RNG projects - Management stated that they have a healthy pipeline of RNG projects and are targeting double-digit rates of return while remaining disciplined in project selection [27][28]
UGI (UGI) - 2022 Q4 - Annual Report
2022-11-21 21:57
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission file number 1-11071 UGI CORPORATION (Exact name of registrant as specified in its charter) (State or Other Jurisdiction of Inc ...
UGI (UGI) - 2022 Q4 - Earnings Call Transcript
2022-11-18 17:32
UGI Corporation (NYSE:UGI) Q4 2022 Earnings Conference Call November 18, 2022 9:00 AM ET Company Participants Tameka Morris - Senior Director of Investor Relations Roger Perreault - President, Chief Executive Officer Ted Jastrzebski - Chief Financial Officer Bob Beard - Executive Vice President, Natural Gas, Global Engineering & Construction Conference Call Participants Julien Dumoulin-Smith - Bank of America Marc Solecitto - Barclays Operator Good day, and thank you for standing by. Welcome to the UGI Corp ...
UGI (UGI) - 2022 Q3 - Quarterly Report
2022-08-04 20:34
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission file number 1-11071 UGI CORPORATION (Exact name of registrant as specified in its charter) Pennsylvania 23-2668356 (Stat ...
UGI (UGI) - 2022 Q3 - Earnings Call Presentation
2022-08-04 15:08
1 1 1 Fiscal 2022 Third Quarter Results Ro ge r Pe r re a u l t President and CEO, UGI Corporation Te d J . J a st r ze bs k i Chief Financial Officer, UGI Corporation Ro b e r t F. B e a rd Executive Vice President, Natural Gas, Global Engineering & Construction, and Procurement About This Presentation This presentation contains forward-looking statements, including estimates and projections, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exch ...
UGI (UGI) - 2022 Q3 - Earnings Call Transcript
2022-08-04 15:00
UGI Corporation (NYSE:UGI) Q3 2022 Earnings Conference Call August 4, 2022 9:00 AM ET Company Participants Roger Perrault - President, Chief Executive Officer Ted Jastrzebski - Chief Financial Officer Robert Beard - Executive Vice President, Natural Gas, Global Engineering & Construction Tameka Morris - Director, Investor Relations Conference Call Participants Paul Zimbardo - Bank of America Michael Gaugler - Janney Montgomery Mark Solecitto - Barclays Operator Good day and thank you for standing by. Wel ...
UGI (UGI) - 2022 Q2 - Earnings Call Presentation
2022-05-06 11:44
1 1 1 Fiscal 2022 Second Quarter Results Ro ge r Pe r re a u l t President and CEO, UGI Corporation Te d J . J a st r ze bs k i Chief Financial Officer, UGI Corporation Ro b e r t F. B e a rd Executive Vice President, Natural Gas, Global Engineering & Construction and Procurement About This Presentation This presentation contains forward-looking statements, including estimates and projections, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exch ...
UGI (UGI) - 2022 Q2 - Quarterly Report
2022-05-05 21:05
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission file number 1-11071 UGI CORPORATION (Exact name of registrant as specified in its charter) Pennsylvania 23-2668356 (Sta ...
UGI (UGI) - 2022 Q2 - Earnings Call Transcript
2022-05-05 18:24
UGI Corporation (NYSE:UGI) Q2 2022 Earnings Conference Call May 5, 2022 9:00 AM ET Company Participants Tameka Morris - Director of Investor Relations Roger Perreault - President, Chief Executive Officer, Executive Vice President of Global LPG Thaddeus Jastrzebski - Chief Financial Officer Conference Call Participants Kody Clark - Bank of America Marc Solecitto - Barclays Operator Hi, and welcome to UGI Corp. Q2 2022 Earnings Conference Call. [Operator Instructions] Please be advised that today's conference ...