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UGI Q1 Earnings Surpass Estimates, Revenues Decline Y/Y

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Zacks Equity Research
·3 min read
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UGI Corporation UGI reported first-quarter fiscal 2020 adjusted earnings of $1.18 per share, beating the Zacks Consensus Estimate of $1.11. The bottom line also improved from the year-ago quarter’searnings of $1.17 per share.

It generated GAAP earnings of $1.44 per share for the reported quarter, up from the year-ago quarter’s figure of $1.

Revenues

Revenues of $1,932 million for the fiscal first quarter declined 4% from the year-ago numberof $2,007 million.

UGI Corporation Price, Consensus and EPS Surprise

UGI Corporation Price, Consensus and EPS Surprise
UGI Corporation Price, Consensus and EPS Surprise

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

Segmental Revenues

AmeriGas Propane: Revenues of $666 million for the quarter under review were down 9% from the year-ago number.

UGI International: Revenues summed $700 million, up 8% from the year-ago figure.

Midstream & Marketing: Revenues of $341 million for the reported quarter fell 9% year over year.

UGI Utilities: Revenues of $300 million were down 9% from the year-ago reported figure.

Corporate & Other: This segment incurred a loss of $75 million, narrower than the loss of $76 million in first-quarter fiscal 2019.

Highlights of the Release

The company invested $79 million of its capital in UGI Utilities, up 11% from the prior-year’s comparable period. It expanded the renewable natural gas portfolio by making investment in New Energy One HoldCo LLC, in the reported quarter. Also, on Dec 30, 2020, management announced that the company signed a definitive agreement to acquire Mountaineer Gas Company.

Total interest expenses of $78 million were down 7% from the prior-year figure.

Zacks Rank

UGI Corp. currently has a Zacks Rank #4 (Sell).

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Upcoming Release

ONE Gas Inc. OGS is scheduled to report fourth-quarter 2020 results on Feb 17. The Zacks Consensus Estimate for the quarterly bottom line is pegged at $1.06 per share.

Other Releases

MDU Resources Group Inc. MDU reported fourth-quarter 2020 operating earnings of 56 cents per share, which increased 9% from the year-ago level.

Atmos Energy Corporation ATO posted first-quarter fiscal 2021 earnings of $1.71 per share, which surpassed the Zacks Consensus Estimate of $1.58 by 8.2%.

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