What is the market's earnings forecast for UGI next quarter?

What were the key takeaways from UGI’s earnings call?

What guidance did UGI's management provide for the next earnings period?

What is UGI's latest dividend and current dividend yield?

What were the key takeaways from UGI's earnings call?

What factors drove the changes in UGI's revenue and profit?

What does UGI do and what are its main business segments?

What is UGI's gross profit margin?

- **5% EBIT Growth**: Driven by natural gas demand and LPG margin management, despite $215M divestiture proceeds.
- **AmeriGas Safety Leap**: 45% fewer incidents, highest customer satisfaction score in 3 years.
- **$225M Capital Deployment**: 73% to regulated utilities for infrastructure, including new LNG facility.
- **Strategic Expansion**: New CSO role to pursue data center and power provider opportunities, aligning with White House energy directives.
- **Weather Resilience**: 1M gallons delivered during January cold snap, with resources redeployed from West to East.

**【CEO Summary Section】**
- Q1 2026 total reportable segments' EBIT of $441 million, up 5% YoY, driven by strong natural gas demand and margin management in LPG.
- AmeriGas safety metrics improved: 45% reduction in recordable incidents, 60% fewer lost-time injuries, and highest Net Promoter Score since 2023.
- UGI International divestitures in 7 European markets generated $215 million in cash, supporting balance sheet strength.
- $225 million capital deployment (73% to regulated utilities) for infrastructure upgrades, including New Carlisle LNG facility.
- Filed gas base rate cases for UGI Utilities and Mountaineer Gas, seeking $99 million and $27 million increases to fund $500 million in system upgrades.
- Announced Siddarth Nair as Chief Strategic Officer to focus on long-term growth and portfolio optimization.

**【CFO Commentary】**
- Adjusted diluted EPS of $1.26, down 8% YoY due to absence of investment tax credits and higher interest expenses.
- Utilities segment EBIT of $157 million (+16% YoY) driven by colder weather (21% colder, 16% higher core volumes) and Pennsylvania rate increases.
- Midstream & Marketing EBIT of $88 million (-9% YoY) offset by pipeline rate increases and operational efficiency.
- Global LPG EBIT of $124 million (+14% YoY) from margin management and divestiture benefits.
- Liquidity of $1.6 billion, up $100 million YoY, with Moody's upgrade of AmeriGas' outlook to positive.

**【Q&A Highlights】**
- **Extreme Weather Impact**: AmeriGas delivered 1 million gallons of propane during January's extreme cold, redeploying resources from warmer Western regions.
- **Rate Case Cadence**: Pennsylvania rate case focuses on affordability and operational efficiency, with no structural changes beyond existing weather normalization mechanisms.
- **Strategic Growth**: Siddarth Nair's role will explore opportunities in natural gas demand (e.g., data centers, power providers) and ESG initiatives.
- **Midstream Margin Lag**: $5 million pipeline rate increase impact to be recovered over 2026, supporting midstream profitability in future quarters.

UGI Corporation (UGI) Q1 2026 Earnings Call Transcript

- **Record EPS and Cash Flow**: FY2025 adjusted EPS of $3.32, $530M free cash flow, and $320M returned to shareholders.
- **AmeriGas Transformation**: 17% EBIT growth, 10% fuel cost savings via dynamic routing, and 30% safety incident reduction.
- **Long-Term Growth Target**: 5-7% EPS CAGR driven by $4.5-4.9B capital plan and RNG expansion.
- **Leverage Reduction**: AmeriGas leverage target sub-4.0x, supported by EBIT growth and debt deleveraging.
- **Pennsylvania Expansion**: 50+ NDAs for projects leveraging Pennsylvania's energy infrastructure boom.

**【CEO Summary Section】**
- UGI reported record adjusted EPS of $3.32 for FY2025, exceeding the revised guidance range of $3.00-$3.15.
- Generated $530 million in free cash flow, including $150 million from LPG divestitures, and returned $320 million to shareholders via dividends.
- Invested $900 million in natural gas infrastructure, including RNG facilities, and completed 130 miles of pipeline replacement.
- Raised long-term EPS growth target to 5-7% CAGR, driven by operational improvements and portfolio optimization.
- AmeriGas achieved a 30% reduction in safety incidents and implemented AI-driven process efficiencies.

**【AmeriGas Propane Update】**
- AmeriGas delivered 17% EBIT growth ($166 million) through operational transformation, including exiting unprofitable wholesale business (11% of volumes).
- Introduced dynamic routing, reducing fuel costs by 10%, and reshored 40-50% of call center operations.
- Targets sustained EBIT growth through customer retention, supply chain optimization, and AI adoption.

**【CFO Financial Commentary】**
- FY2025 financial highlights: 
  - Utilities EBIT: $403 million (+3% YoY)
  - Midstream & Marketing EBIT: $293 million (-$20 million YoY)
  - UGI International EBIT: $314 million (-$9 million YoY)
  - AmeriGas EBIT: $166 million (+$24 million YoY)
- FY2026 guidance: Adjusted EPS $2.85-$3.15 (5-7% growth), assuming normal weather and current tax environment.
- Capital plan for FY2026-FY2029: $4.5-4.9 billion, focused on regulated utility growth (9%+ rate base CAGR).
- Leverage targets: 3.75x for UGI, 4.0x for AmeriGas.

**【Q&A Highlights】**
- **Midstream & LPG Growth**: CEO expects low double-digit EBIT growth across all segments, with 50+ NDAs for Pennsylvania projects.
- **AmeriGas Leverage**: Target sub-4.0x leverage through EBIT growth ($24 million in FY2025) and debt reduction ($200 million YoY).
- **Tax Credits**: FY2025 benefited from $0.40 in RNG ITCs; FY2026+ will rely on $0.09 in PTCs and normalized tax rates.
- **CapEx Allocation**: Prioritize utility infrastructure modernization (e.g., replacing 130 miles of pipeline) and midstream fee-based growth.


UGI Corporation (UGI) Q4 2025 Earnings Call Transcript

- **Record EPS Growth**: Year-to-date adjusted EPS of $3.55, up 10%, driven by regulated utility investments and operational efficiency.
- **Strategic Divestitures**: $150M+ proceeds from LPG asset sales to focus on high-return opportunities, exiting breakeven wholesale business.
- **Pennsylvania Rate Case**: $69.5M revenue increase pending approval, supporting 2026 pipeline modernization.
- **Midstream Expansion**: Multiple NDAs with generators to leverage Pennsylvania infrastructure for LNG and natural gas services.
- **Financial Strength**: 3.8x leverage ratio, $1.9B liquidity, and $558M free cash flow (up 11% YoY).

**【Management Opening Remarks】**
- Tameka Morris introduced the call, outlining the agenda to review Q3 2025 financial results, business highlights, and guidance before opening the Q&A session.
- Emphasized the use of non-GAAP measures and the inclusion of forward-looking statements subject to risks and uncertainties.

**【CEO Summary Section】**
- **Record Year-to-Date Performance**: Adjusted diluted EPS of $3.55, up $0.33 YoY, driven by contributions from all segments, including natural gas infrastructure investments and operational efficiencies.
- **Q3 2025 Results**: Adjusted EPS of -$0.01 (vs. +$0.06 YoY), reflecting seasonal weakness, with expectations to achieve the top end of the $3-$3.15 EPS guidance range.
- **Strategic Initiatives**: 
  - $600M+ capital deployment (80% to regulated utilities and energy services).
  - Progress on Pennsylvania Gas Utility rate case ($69.5M revenue increase pending PUC approval).
  - $150M+ proceeds from LPG asset divestitures to focus on high-return opportunities.
  - Exit of breakeven wholesale LPG business (11% of 2024 gallons sold).
- **Operational Momentum**: 9,000+ new utility customers added YoY and safety improvements across businesses.

**【CFO Financial Commentary】**
- **Q3 Financial Highlights**: 
  - Utilities EBIT: $30M (down $9M YoY due to higher O&A expenses).
  - Midstream & Marketing EBIT: $27M (down $16M YoY from lower gathering margins).
  - UGI International EBIT: $43M (down $14M YoY from volume declines and margin compression).
  - AmeriGas EBIT: -$28M (flat YoY despite lower volumes offset by higher margins).
- **Year-to-Date Performance**: 
  - Resilient EBIT across segments ($3.55 EPS driven by tax benefits and operational efficiency).
  - Free cash flow of $558M (up 11% YoY) and leverage ratio of 3.8x.
- **Fourth Quarter Outlook**: Earnings expected to be consistent with prior year, excluding tax benefits, with focus on finalizing the Pennsylvania rate case.
- **Tax Impact of One Big Beautiful Bill Act**: Potential retroactive removal of valuation allowances and enhanced R&D credits, providing future tax efficiency.

**【Q&A Key Highlights】**
- **Tax Act Benefits**: Retroactive relief for AmeriGas interest deductibility and enhanced RNG investment tax credits, with ongoing analysis of long-term impacts.
- **Midstream Opportunities**: Multiple NDAs with potential generators leveraging UGI's Pennsylvania infrastructure for LNG and natural gas services.
- **Divestiture Strategy**: Assets sold at non-dilutive multiples, supporting deleveraging and reinvestment in core businesses.
- **AmeriGas Winter Prep**: Focus on safety, customer service (Net Promoter Scores, routing efficiency), and ACE production improvements.
- **Contract Expiries**: No significant Midstream contract expiries expected over the next 18 months.


UGI Corporation (UGI) Q3 2025 Earnings Call Transcript

- **Record Earnings Growth**: Q2 EPS up 12% to $2.21, FY25 guidance raised to $3.00-$3.15 on colder weather and cost control.
- **LNG Capacity Doubling**: Manning facility expansion complete, enhancing Northeast peaking services.
- **Free Cash Flow Surge**: 55% YoY growth to $490M, reducing AmeriGas leverage to 5.4x from 6.0x.
- **AmeriGas Turnaround**: 5 operational improvements targeting 2026 winter; propane procurement savings locked in via 53-supplier consolidation.
- **Balance Sheet Strength**: 3.8x leverage, $1.9B liquidity, and stable debt refinancing outlook.

**【CEO Key Highlights】**
- **Record Q2 Performance**: Adjusted EPS of $2.21, up 12% YoY, driven by colder weather and operational efficiency. FY25 guidance raised to $3.00-$3.15 EPS.
- **LNG Expansion Success**: Manning facility commissioning complete, doubling liquefaction capacity for Northeast peaking contracts.
- **Customer Growth**: +6,600 new residential/commercial accounts YTD, reflecting demand for natural gas services.
- **Balance Sheet Strength**: $1.9B liquidity, 3.8x leverage ratio, and 55% YoY free cash flow growth ($490M).

**【CFO Financial Breakdown】**
- **Utility Segment**: EBIT $241M (+15% YoY), benefiting from 15% colder weather and $13M RNG tax credits.
- **Midstream & Marketing**: Stable EBIT $154M, offsetting Hunlock Creek divestiture with capacity management gains.
- **UGI International**: EBIT $12M growth via cost reduction ($13M OpEx savings) despite 4% LPG volume decline.
- **AmeriGas**: EBIT $154M (+16% YoY), driven by 13% margin expansion and tank sales gains, despite tax headwinds.

**【Q&A Key Takeaways】**
- **AmeriGas Turnaround**: 5 key process improvements underway, targeting OpEx reduction and customer retention. 2026 winter poised for "very different" performance.
- **Debt Refinancing**: $664M 2026 maturities on track for refinancing; AmeriGas bonds stable at pre-volatility levels.
- **Appalachian Gas Demand**: Utility and midstream assets well-positioned for data center and generation growth in shale region.
- **2H25 Drivers**: Delayed OpEx/capex from Q2 weather will impact 2H25 margins, but FY25 guidance reflects strong cash flow momentum.

UGI Corporation (UGI) Q2 2025 Earnings Call Transcript

- **EPS Growth**: 14% YoY increase in adjusted EPS to $1.37, driven by strong natural gas and Midstream performance.
- **Infrastructure Investment**: $200M+ spent on modernizing gas utilities, supporting 9% rate base growth and customer satisfaction.
- **Midstream Expansion**: RNG projects and $120M Superior Appalachian acquisition enhance returns and operational efficiency.
- **AmeriGas Turnaround**: Early success with pod structure, targeting 5 key improvements to unlock propane business potential.
- **Debt Management**: 2025 senior notes redeemed via intercompany loan; 2026 refinancing to maintain 5.0x leverage target.
- **International Strength**: UGI International generates $130-150M annual cash flow, supporting dividend and strategic initiatives.

**【CEO Summary Section】**
- Adjusted diluted EPS of $1.37, up 14% YoY, driven by strong performance across natural gas, LPG, and Midstream segments.
- Natural Gas Businesses: Higher demand and rates at Mountaineer (West Virginia utility) contributed to margin growth. Over $200M invested in infrastructure modernization for safety and efficiency.
- Midstream & Marketing: RNG projects completed on time/budget, generating immediate returns. $120M acquisition of Superior Appalachian (Pennsylvania gas systems) to enhance synergies and future growth.
- AmeriGas Transformation: New pod structure streamlines operations, improves customer experience. Targeting 5 key pillars to optimize supply chain, reduce inefficiencies, and strengthen financials.
- 2025 Priorities: Operational excellence, disciplined capital allocation, and customer-centric innovation.

**【CFO Financial Commentary】**
- Utilities Segment: EBIT up $6M due to higher gas rates and volumes, offset by higher O&A expenses.
- Midstream & Marketing: EBIT down $7M YoY due to lower gathering margins and absence of power generation assets, but benefits from RNG tax credits.
- UGI International: Strong cash generation ($130-150M FY25) supporting dividend, with focus on exiting non-core energy marketing business.
- Liquidity: $1.5B available, including $218M intercompany loan to repay 2025 senior notes. Aiming to deleverage AmeriGas to 5.0x debt/EBITDA by 2026.

**【Q&A Key Highlights】**
- Debt Management: Intercompany loan to AmeriGas at 9.13% interest, to be repaid via free cash flow. 2026 debt refinancing options being evaluated.
- AmeriGas Performance: Colder weather in Jan strained operations, but early pod structure benefits seen. 2025 focus on improving 5 core business processes.
- International Strategy: Optimize propane storage flexibility in Europe, evaluate underperforming assets for divestiture.
- Midstream Outlook: Stable contract tenures (7-year avg), potential for margin expansion with rising gas demand. Active in Pennsylvania for infrastructure M&A with strategic synergies.

Actual											1.56	0.08	-0.14	1.18	1.99	0.13	-0.34	0.93	1.91	0.06	0	1.14	1.68	0	0.03	1.2	1.97	0.06	-0.17	1.37	2.21	-0.01	-0.25	1.26
Forecast											1.5204	-0.1625	-0.3059	1.1006	1.7276	0.0719	-0.2577	1.2385	1.84	0.118	-0.0545	0.9475	1.7816	0.02	-0.07	1.03	1.64	-0.0567	-0.29	1.0921	1.8551	-0.0973	-0.3778	1.1493
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	+2.60%	+149.23%	+54.23%	+7.21%	+15.19%	+80.81%	-31.94%	-24.91%	+3.80%	-49.15%	+100.00%	+20.32%	-5.70%	-100.00%	+142.86%	+16.50%	+20.12%	+205.82%	+41.38%	+25.45%	+19.13%	+89.72%	+33.83%	+9.63%

Actual	--	--	--	--	--	--	--	--	--	--	2.23B	1.20B	1.12B	1.93B	2.58B	1.50B	1.44B	2.67B	3.47B	2.03B	1.93B	2.76B	3.11B	1.66B	1.40B	2.12B	2.47B	1.38B	1.24B	2.03B	2.67B	1.39B	1.20B	2.08B
Forecast	--	--	--	--	--	--	--	--	--	--	2.50B	1.48B	1.22B	2.03B	2.47B	1.38B	1.26B	2.23B	2.85B	1.90B	336.45M	2.81B	3.10B	1.81B	1.92B	2.54B	3.07B	1.73B	1.65B	2.65B	3.22B	1.66B	1.52B	2.49B
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-10.98%	-18.76%	-7.62%	-4.81%	+4.67%	+8.61%	+14.28%	+20.09%	+21.81%	+7.25%	+474.82%	-1.69%	+0.18%	-8.29%	-26.78%	-16.40%	-19.56%	-20.28%	-24.77%	-23.31%	-17.13%	-16.13%	-21.46%	-16.38%

UGI

UGI fundamentals

UGI Q1 2026 Earnings

Earnings Call

You can ask Aime

UGI

UGI fundamentals

UGI Q1 2026 Earnings

Earnings Call

UGI Earnings Call Summary for Q1/20269:00 AM on Feb 5, 2026

UGI Earnings Call Summary for Q4/20259:00 AM on Nov 21, 2025

UGI Earnings Call Summary for Q3/20259:00 AM on Aug 7, 2025

UGI Earnings Call Summary for Q2/20259:00 AM on May 8, 2025

UGI Earnings Call Summary for Q1/20259:00 AM on Feb 6, 2025

You can ask Aime