UGI Corporation reports Q1 EPS $1.37, consensus $1.19

Reports Q1 revenue $2.03B vs. $2.12B last year. “Disciplined execution within our natural gas and international propane businesses along with a renewed focus on the operational performance at AmeriGas led to a 14% increase in adjusted diluted EPS over the prior year,” said Bob Flexon, CEO. “Our natural gas businesses benefited from strong gas demand and higher gas rates at the West Virginia gas utility, while our Global LPG businesses realized relatively comparable volumes and reduced operating and administrative expenses when compared to the prior-year period. The solid underlying performance by our reportable segments, coupled with benefits from our continuing tax planning strategies, led to the strong fiscal first quarter results. At UGI, we are strengthening our foundation through renewed focus on our people and culture, and driving operational improvements, particularly at AmeriGas Propane where we must significantly enhance our business processes, commercial practices, and service quality. These operational improvements along with disciplined capital allocation, strategic portfolio optimization, and strong balance sheet management will better position UGI to deliver consistent growth and greater value for its shareholders.”