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UGI Corp's (UGI) Earnings & Revenues Miss Estimates in Q3

Zacks Equity Research

UGI Corporation UGI delivered third-quarter fiscal 2019 adjusted earnings 13 cents per share, which missed the Zacks Consensus Estimate of 20 cents by 35%. However, the bottom line increased 44.4% from the prior-year quarter’s figure of 9 cents.

The company incurred GAAP loss of 1 cent in the reported quarter against the year-ago quarter’s GAAP earnings of 30 cents.

Revenues

Revenues of $1,363.7 million in the quarter missed the Zacks Consensus Estimate of $1,431 million by 4.72%. The top line declined 5.3% from the year-ago quarter’s figure of $1,440.9 million.

UGI Corporation Price, Consensus and EPS Surprise

 

UGI Corporation Price, Consensus and EPS Surprise

UGI Corporation price-consensus-eps-surprise-chart | UGI Corporation Quote

 

Segment Revenues

AmeriGas Propane: The segment generated revenues of $478.7 million in the quarter under review, down 9.4% from year-ago quarter’s tally.

UGI International:This segment generated revenues of $486.6 million in the quarter under review, down 8.8% from year-ago quarter’s figure.

Midstream & Marketing:This segment generated revenues of $267.3 million in the quarter under review, up from $263.8 million in the prior-year quarter.

UGI Utilities:This segment generated revenues of $163.9 million in the quarter under review, up 0.3% from year-ago quarter’s reported figure.

Corporate & Other:This segment incurred loss of $32.8 million narrower than $44.8 million loss incurred in fiscal third quarter of 2018.

Operational Highlights

Total operating income in the fiscal third quarter amounted to $9.6 million compared with $29.5 million in the year-ago quarter.

Total interest expenses amounted to $60.5 million, up 7% from the prior-year quarter’s tally.

The acquisition of Columbia Midstream Group was closed on Aug 1. The merger with AmeriGas received regulatory approval and is expected to close later this quarter.

Guidance

The company expects fiscal 2019 adjusted earnings per share to be at the lower end of its guidance range of $2.40-$2.60.

Zacks Rank

UGI currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Other Releases

ONE Gas, Inc OGS recorded second-quarter 2019 operating earnings of 46 cents per share, which beat the Zacks Consensus Estimate of 41 cents by 12.2%.

ONEOK Inc OKE reported second-quarter 2019 operating earnings of 75 cents per share, which surpassed the Zacks Consensus Estimate of 70 cents by 7.14%

MDU Resources Group Inc MDU delivered second-quarter 2019 operating earnings of 32 cents per share, which beat the Zacks Consensus Estimate of 25 cents by 28%.

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