Research Reports

Key takeaways

Operating income was $758.0M, up 8.3%, driven by higher total margin partially offset by higher operating expenses.

Net income was $520.0M, up 8.6%, benefiting from improved operating performance.

Diluted EPS was $2.33, up 6.4% from $2.19.

Free cash flow was $339.0M, as operating cash flow of $730.0M was partially offset by capital expenditures of $391.0M.

Full analysis

Utility Rate Increases and Weather Drive Margin Expansion

AmeriGas Propane: Tax Benefit Masks Volume Pressure

Cash Flow: Operating Decline and Higher Capex

UGI International: Volume Decline and FX Headwinds

UGI International experienced a decline in retail gallons sold due to warmer weather and divestitures. The segment also faced foreign exchange headwinds, though specific financial impacts were removed during audit.

Midstream & Marketing: Tax-Driven Earnings Decline

Midstream & Marketing adjusted net income declined due to higher tax expense, though specific figures were removed during audit. The segment's performance was impacted by lower margins and higher operating costs.

UGI · UGI Corporation

Summary