UGI (US:UGI)2025-02-06 13:35Financial Performance - Q1 GAAP diluted EPS was $1.74 and adjusted diluted EPS was $1.37, compared to GAAP diluted EPS of $0.44 and adjusted diluted EPS of $1.20 in the prior-year period, representing a 14% increase in adjusted diluted EPS[4] - Net income attributable to UGI Corporation for the three months ended December 31, 2024, was $375 million, significantly up from $94 million in the same period of 2023[25] - Adjusted net income attributable to UGI Corporation for the twelve months ended December 31, 2024, was $695 million, compared to $625 million for the same period in 2023, reflecting an increase of 11.2%[26] - Earnings per share (diluted) for the three months ended December 31, 2024, was $1.74, compared to $0.44 for the same period in 2023, marking a substantial increase[25] Revenue and Segment Performance - Total revenues for the three months ended December 31, 2024, were $2,030 million, a decrease of 4.3% compared to $2,121 million in the same period of 2023[25] - Revenues for the Utilities segment were $485 million, a decrease of 2% from $493 million in the prior-year period[12] - UGI International revenues decreased by 12% to $638 million from $725 million in the prior-year period[18] - Total margin for the Midstream & Marketing segment decreased by 11% to $138 million from $155 million in the prior-year period[15] - AmeriGas Propane's total margin decreased by $15 million primarily due to lower margin from non-core energy marketing activities[22] - UGI International reported revenues of $638 million for the three months ended December 31, 2024, down from $725 million in the same period of 2023, a decrease of 12.0%[25] Capital Expenditures and Investments - Capital expenditures for the Utilities segment increased by 29% to $106 million from $82 million in the prior-year period[12] Liquidity and Financial Position - Available liquidity was approximately $1.5 billion as of December 31, 2024[4] Interest and Adjustments - The total interest expense for the twelve months ended December 31, 2024, was $396 million, slightly up from $387 million in 2023[25] - The company reported total adjustments of $145 million for the twelve months ended December 31, 2024, compared to $1,079 million in 2023, indicating a significant reduction in adjustments[26] Corporate and Other Segment - Corporate & Other segment reported a net income of $143 million for the three months ended December 31, 2024, compared to a loss of $183 million in the same period of 2023[25] Regulatory Filings - Filed a gas base rate case requesting an overall distribution rate increase of approximately $110 million with the PA Public Utility Commission[4] Sales Volume - Retail gallons sold in UGI International increased by 2% to 218 million gallons compared to 214 million gallons in the prior-year period[18] Earnings Before Interest and Taxes - Q1 reportable segments earnings before interest expense and income taxes (EBIT) were $420 million, slightly down from $425 million in the prior-year period[4] - The total reportable segments' earnings before interest expense and income taxes for the three months ended December 31, 2024, was $420 million, a slight decrease from $425 million in the same period of 2023[25] Shareholder Information - UGI Corporation's weighted average common shares outstanding (diluted) for the three months ended December 31, 2024, was 215,695 thousand, compared to 215,570 thousand in the same period of 2023[25]