UGI (US:UGI)2024-11-22 14:15Financial Performance - UGI's FY24 GAAP Diluted EPS was $1.25, compared to ($7.16) in FY23[8, 10] - Adjusted Diluted EPS increased from $2.84 in FY23 to $3.06 in FY24[8, 10] - The company achieved a 4% reduction in operating and administrative expenses, amounting to $75 million[8] - Debt reduction of approximately $460 million was achieved, along with key financing activities to provide covenant relief at AmeriGas[8] Segment Results - Utilities FY24 EBIT increased due to higher margin from increased base rates and DSIC revenues, and lower OPEX[12] - Midstream & Marketing FY24 EBIT increased due to higher margins from capacity management activities[12] - UGI International experienced slightly lower volumes due to warmer weather, offset by higher LPG unit margin and stronger foreign currencies[12] - AmeriGas Propane saw lower retail volumes due to customer attrition and warmer weather, and lower OPEX[12] Capital Allocation and Strategy - $318 million was allocated to dividend payments to shareholders[9] - Capital expenditure of $897 million, with 80% invested in the natural gas businesses[9] - The company is targeting long-term EPS growth rate of 4-6%[21] - The company is targeting over 75% of earnings from the Natural Gas Businesses[21]