UGI Research | Milton Maxwell

UGI

UGI Corporation

38.13

-0.06-0.16%

Dec 16, 4:00:02 PM EST

Upcoming Earnings

Report date

≈ -/-

Earnings Call Transcripts

This Quarter (Q1 '26)

No earnings call transcript available yet

Last Quarter (Q4 '25)

FY Q1 '26

New CSO; NDA progress; winter ops.

2/4/26Feb 4, 2026

Q&A spotlighted UGI's new Chief Strategic Officer hire to scout medium-term portfolio opportunities and sustainability, evolving beyond ops turnaround. AmeriGas showed record safety and resource redeployment amid road-stressed winter deliveries, targeting 60% winter improvement. NDAs with power providers progress toward potential FY2026 announcements, fueled by data centers and emergency power pushes. Midstream faces $5 million pipeline rate lag, recoverable mostly this year. Management directly tackled weather and rate case queries. Answers reinforce scripted progress. NDAs heat up.

Key Stats

Market Cap

8.20B

P/E (TTM)

12.34

Basic EPS (TTM)

3.09

Dividend Yield

0.04%

Recent Filings

10-Q

Q1 FY2026 results

2/5/26Feb 5, 2026

UGI posted Q1 FY2026 revenues up 2.6% y/y to $2.1B, with operating income down 7% to $454M but net income at $297M ($1.34 diluted EPS) versus $375M ($1.74) last year—diluted shares rose to 221M from 216M due to convertible notes. Utilities drove gains on 21% colder weather and base rate hikes, while a $27M gain from UGI International's Flaga sale offset derivative mark-to-market swings; margins held as colder temps boosted core volumes across segments. Operating cash flow fell to $66M (FCF not disclosed); cash sits at $251M with $7.2B total debt including $700M convertibles now current. $78M proceeds from non-core LPG disposals bolster liquidity. West Reading litigation lingers.

8-K

Q1 EPS dips; LPG divestitures advance

2/5/26Feb 5, 2026

UGI reported Q1 fiscal 2026 GAAP diluted EPS of $1.34, down from $1.74, yet adjusted EPS held at $1.26 versus $1.37 prior year, with reportable segments EBIT up 5% to $441 million on strong utilities demand. In January 2026, it inked deals to divest LPG operations in five European countries for €48 million enterprise value, part of seven-country sales generating $215 million cash since fiscal 2025. Portfolio trim sharpens focus.

8-K

Shareholders approve board, pay

2/4/26Feb 4, 2026

UGI Corporation shareholders unanimously backed the full ten-director slate at the January 30, 2026 annual meeting, with votes for topping 169 million each despite minor opposition. They approved executive compensation by a wide margin—162.8 million for versus 8.7 million against—and ratified KPMG LLP as auditors with near-unanimous support, no broker non-votes. Board continuity locked in.

10-K

FY2025 results

11/21/25Nov 21, 2025

UGI Corporation's FY2025 results showed adjusted net income of $728M ($3.32/share), up from $658M ($3.06/share) in FY2024, driven by colder weather boosting volumes across segments yet tempered by portfolio shifts. Utilities held steady at $237M adjusted earnings as 10% higher core market throughput (102 Bcf) offset rising expenses; Midstream & Marketing rose to $269M on tax credits despite softer margins; UGI International dipped to $242M with 4% lower LPG retail gallons (698M) amid divestitures in Italy and Austria; AmeriGas Propane swung to $36M profit on higher unit margins and cost cuts, despite 1% volume drop. Q4 accelerated with colder temps (6-12% vs prior year), but net income included $38M disposal losses. Debt stands at $7.1B; $1.6B liquidity. Warmer winters threaten heating demand.

8-K

UGI beats FY25 EPS guidance

11/21/25Nov 21, 2025

UGI Corporation reported fiscal 2025 GAAP net income of $678 million and adjusted diluted EPS of $3.32, up from $3.06 prior year, driven by AmeriGas Propane's 17% EBIT surge to $166 million and steady Utilities performance despite warmer weather. Reportable segments EBIT held flat at $1,176 million. Management issued FY26 adjusted diluted EPS guidance of $2.90-$3.15, targeting 5-7% growth through FY29. Balance sheet strengthened to 3.9x leverage.

About

UGI Corporation, together with its subsidiaries, engages in the distribution, storage, transportation, and marketing of energy products and related services in the United States and internationally. The company operates through four segments: Utilities, Midstream & Marketing, UGI International, and AmeriGas Propane. It distributes propane to approximately 801 million residential, commercial/industrial, motor fuel, agricultural, and wholesale customers. The company distributes liquefied petroleum gases (LPG) to residential, commercial, industrial, agricultural, wholesale and automobile fuel customers; and provides logistics, storage, and other services to third-party LPG distributors. In addition, it engages in the retail sale of natural gas, liquid fuels, and electricity to approximately 10,800 residential, commercial, and industrial customers. Further, the company distributes natural gas to approximately 694,000 customers in eastern and central Pennsylvania counties through its distribution system of approximately 12,700 miles of gas mains; and supplies electricity to approximately 62,900 customers in northeastern Pennsylvania through 2,700 miles of lines and 14 substations. Additionally, it operates electric generation facilities; natural gas liquefaction, storage, and vaporization facility; propane storage and propane-air mixing stations; and rail transshipment terminals. It manages natural gas pipeline and storage contracts; develops, owns, and operates pipelines, gathering infrastructure, and gas storage facilities. UGI Corporation was incorporated in 1882 and is headquartered in King of Prussia, Pennsylvania.

CEO

Mr. Sean P. O'Brien CPA

IPO

2/21/1973

Website

https://www.ugicorp.com

Sector

Utilities

Industry

Utilities - Regulated Gas