财务数据和关键指标变化 - 公司第二季度调整后每股收益为1.97美元,较上年同期增加0.29美元 [5] - 天然气业务实现创纪录的第二季度收益,调整后净收入同比增长32% [5] - 公司实施有效的成本控制,运营和管理费用同比减少2700万美元 [6] 各条业务线数据和关键指标变化 公用事业分部 - EBIT同比增加2100万美元,主要由于天然气和电力基本费率上涨,以及DISC项目带来的增量利益和客户增长 [28] - 运营和管理费用与上年持平,主要是坏账费用和外包劳务成本下降抵消了员工福利费用上升 [28] - 年初至今在配电系统更新等方面投资约1.7亿美元 [29] Midstream & Marketing分部 - EBIT同比增加4800万美元,主要由于天然气营销活动利润率上升和投资税收抵免 [30][31] - 运营和管理费用下降600万美元,主要是薪酬福利和维护费用降低 [31] UGI International分部 - EBIT同比增加300万美元,LPG销量与上年持平,但单位利润率上升和外汇折算影响约500万美元 [32][33] - 运营和管理费用下降1600万美元,主要是人员和维护成本降低,部分被外汇折算影响抵消 [33] AmeriGas分部 - EBIT与上年持平,销量下降6%被单位利润率上升部分抵消 [34][35] - 运营和管理费用下降500万美元,主要是薪酬和广告费用降低,部分被车辆费用上升抵消 [35] 各个市场数据和关键指标变化 - 公用事业分部新增3000多个住宅供暖和商业客户 [28] - UGI International的LPG销量与上年持平,受天气温暖影响被天然气转LPG和汽车燃料销量增长抵消 [32] 公司战略和发展方向及行业竞争 - 公司将继续探索精简全球LPG业务版图和提高运营效率的机会 [13][15] - 公司将重点优化AmeriGas业务,提升客户满意度、服务可靠性和整体运营卓越 [20][23] - 公司未来将进一步向天然气业务转型,尤其是监管环境良好的公用事业业务 [11][13] 管理层对经营环境和未来前景的评论 - 公司有信心在2024财年实现2.70-3美元的调整后每股收益指引范围 [40][41] - 2025-2027财年公司将聚焦于提升业务收益质量、加强资产负债表和谨慎资本配置,以实现可持续的股东价值创造 [39][42][43][50][51] - 公司将维持每年4%的长期股息增长目标,但在2024-2026财年保持股息水平不变,以支持资产负债表修复和AmeriGas业务稳定 [47][51] 其他重要信息 - 公司已完成对AmeriGas业务的战略评估,决定聚焦于重组和运营改善计划 [7][8] - 公司已采取多项措施降低成本和偿还债务,包括出售瑞士LPG业务、回购AmeriGas债券和计划在2024-2025财年实现7-10亿美元的永久性成本节约 [15][16][36][37][45] - 公司未来3年计划投资约39亿美元,其中约26亿美元用于公用事业业务,预计可实现9%以上的资产基础增长 [43][44] 问答环节重要的提问和回答 问题1 **Christopher Jeffrey 提问** 询问公司约4亿美元的AmeriGas债务偿还计划中,内部现金流和外部资金的占比 [54] **Sean O'Brien 回答** - 公司去年已偿还约3亿美元AmeriGas债务,其中AmeriGas自身贡献2-3亿美元 [55] - 今年计划再偿还4-4.5亿美元,其中AmeriGas现金贡献约1.5亿美元,其余2-3亿美元来自公司层面 [55][56][57] - 公司还在考虑通过资产出售等方式筹集偿债资金 [57][58] 问题2 **Paul Fremont 提问** 询问Midstream & Marketing业务中营销和管道业务的具体表现 [65] **Sean O'Brien 回答** - 营销业务是Midstream & Marketing收益增长的主要驱动因素,主要得益于管道运输能力价值上升和天然气储存业务扭亏为盈 [66][67] - 管道业务自身的收益增长相对较小,仅约1000万美元 [69] 问题3 **Paul Fremont 提问** 询问公司是否考虑通过增发股票来加快资产负债表修复 [72] **Sean O'Brien 回答** - 公司已经考虑过多种方案,但目前没有增发股票的计划 [73] - 公司将通过成本削减、谨慎资本部署以及资产组合优化等方式来改善资产负债表,而不会采用增发股票的方式 [73]

The tables in the Appendix reconcile adjusted diluted earnings per share (EPS), adjusted net income attributable to UGI Corporation and UGI Corporation Adjusted EBITDA to their nearest GAAP measures. 4 4 6 ➢ Financing solutions and levers to strengthen the balance sheet and create greater financial flexibility Growth 7 7 Cash Generation | --- | --- | |-------|-----------------------------------------------------------------------------------------------------| | | | | • | Largest retail LPG distributor in t ...

Press Release UGI Reports Fiscal 2024 Second Quarter Results, Concludes Strategic Review and Affirms Fiscal 2024 Guidance May 1, 2024 VALLEY FORGE, PA - UGI Corporation (NYSE: UGI) today reported financial results for the fiscal quarter ended March 31, 2024 and announced that its Board has unanimously decided to conclude the strategic review of its LPG businesses, which was primarily focused on AmeriGas Propane. HIGHLIGHTS • Q2 GAAP diluted EPS of $2.30 and adjusted diluted EPS of $1.97 compared to GAAP dil ...

1 1 M a r i o L o n g h i Interim President and CEO, UGI Corporation Ro b e r t F. B e a rd Chief Operations Officer, UGI Corporation This presentation contains statements, estimates and projections that are forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended). Such statements use forward-looking words such as "believe," "plan," "anticipate," "continue," "estimate," "expect," "may," or other simil ...

Commission file number 1-11071 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, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ UGI CORPORATION (Exact name of registrant as specified in its charter) (State or other jurisdict ...

As the team previously anticipated and discussed on the year-end earnings call, AmeriGas experienced a decline in its year-over-year financial results. Also of note during the quarter, our regulated utilities continue to deploy capital, primarily in infrastructure replacement and betterment, and added more than 3,500 new residential heating and commercial customers. In December, we received approval of the gas rate case for Mountaineer, which went into effect on January 1. As a part of the settlement, we we ...

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, 2023 ☐ 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 Corporation (NYSE:UGI) Q4 2023 Earnings Call Transcript November 17, 2023 9:00 AM ET Company Participants Tameka Morris - SD, IR Roger Perreault - President, CEO Sean O'Brien - CFO Robert Beard - COO Conference Call Participants Gabriel Moreen - Mizuho Cameron Taylor - Bank of America Sarah Akers - Wells Fargo Michael Gaugler - Janney Montgomery Scott Operator Good day, and thank you for standing by. Welcome to the UGI Corporation’s Fourth Quarter 2023 Earnings Conference Call. At this time, all partici ...

1 1 Fiscal 2023 Results & Business Update Ro ge r Pe r re a u l t President and CEO, UGI Corporation S e a n O ' B r i e n Chief Financial Officer, UGI Corporation Ro b e r t F. B e a rd Chief Operations Officer, UGI Corporation About This Presentation This presentation contains statements, estimates and projections that are forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended). Such statements use ...

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, 2023 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 ...