UGI Corporation (UGI - Free Report) reported first-quarter fiscal 2023 operating earnings of $1.14 per share, beating the Zacks Consensus Estimate of $1.06 per share by 7.5%. In the year-ago quarter, UGI reported earnings of 93 cents per share.
Total Revenues
Revenues of $2,759 million for the fiscal first-quarter improved by 3.2% from the year-ago quarter’s figure of $2,673 million.
Segmental Results
AmeriGas Propane: Revenues of $766 million for fiscal first-quarter, 2023 were down 2% from the last year. Retail gallons sold during the year dropped 2% year over year due to continuation of customer attribution, staffing shortages in key delivery-related positions, and structural conservation.
UGI International: Revenues totaled nearly $877 million for fiscal first-quarter, 2023, 16% down from the year-ago period. Retail volume decreased 18% due to warmer weather conditions than prior-year period and lower volumes associated with crop drying during summer.
Midstream & Marketing: Revenues of $669 million for fiscal first-quarter, 2023 are up 25% year over year.
UGI Utilities: Revenues of $592 million were up 41% from the year-ago period.
Corporate & Other: This segment incurred a loss of $145 million for fiscal first-quarter, in contrast to $108 million loss in the prior-year quarter.
Highlights of the Release
As of Dec 31, 2022, UGI reported a strong balance sheet, with available liquidity of approximately $1.2 billion.
The fiscal first-quarter report had total interest expenses of $92 million, up 13.6% from the year-ago quarter’s $81 million.
During the quarter, the company made progress in executing its renewables strategy with additional RNG projects announced in New York and South Dakota. To date, UGI has committed over $450 million to renewables project.
Guidance
UGI aims to deliver 6 - 10% EPS growth and 4% dividend growth over the long-term.
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 Upcoming Releases
Duke Energy (DUK - Free Report) is scheduled to report fourth-quarter results on Feb 9, before market open. The Zacks Consensus Estimate for fourth-quarter earnings is pegged at $1.07 per share, indicating a year-over-year increase of 13.83%.
ONE Gas (OGS - Free Report) is slated to report its fourth-quarter results on Feb 22, after market close. The Zacks Consensus Estimate for fourth-quarter earnings is pegged at $1.2 per share, implying a year-over-year increase of 7.14%.
DTE Transfer (DTE - Free Report) is slated to report its fourth-quarter results on Feb 23, before market open. The Zacks Consensus Estimate for fourth-quarter earnings is pegged at $1.21 per share, implying a year-over-year increase of 15.24%.
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UGI Corporation (UGI - Free Report) reported first-quarter fiscal 2023 operating earnings of $1.14 per share, beating the Zacks Consensus Estimate of $1.06 per share by 7.5%. In the year-ago quarter, UGI reported earnings of 93 cents per share.
Total Revenues
Revenues of $2,759 million for the fiscal first-quarter improved by 3.2% from the year-ago quarter’s figure of $2,673 million.
Segmental Results
AmeriGas Propane: Revenues of $766 million for fiscal first-quarter, 2023 were down 2% from the last year. Retail gallons sold during the year dropped 2% year over year due to continuation of customer attribution, staffing shortages in key delivery-related positions, and structural conservation.
UGI International: Revenues totaled nearly $877 million for fiscal first-quarter, 2023, 16% down from the year-ago period. Retail volume decreased 18% due to warmer weather conditions than prior-year period and lower volumes associated with crop drying during summer.
Midstream & Marketing: Revenues of $669 million for fiscal first-quarter, 2023 are up 25% year over year.
UGI Utilities: Revenues of $592 million were up 41% from the year-ago period.
Corporate & Other: This segment incurred a loss of $145 million for fiscal first-quarter, in contrast to $108 million loss in the prior-year quarter.
Highlights of the Release
As of Dec 31, 2022, UGI reported a strong balance sheet, with available liquidity of approximately $1.2 billion.
The fiscal first-quarter report had total interest expenses of $92 million, up 13.6% from the year-ago quarter’s $81 million.
During the quarter, the company made progress in executing its renewables strategy with additional RNG projects announced in New York and South Dakota. To date, UGI has committed over $450 million to renewables project.
Guidance
UGI aims to deliver 6 - 10% EPS growth and 4% dividend growth over the long-term.
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 Upcoming Releases
Duke Energy (DUK - Free Report) is scheduled to report fourth-quarter results on Feb 9, before market open. The Zacks Consensus Estimate for fourth-quarter earnings is pegged at $1.07 per share, indicating a year-over-year increase of 13.83%.
ONE Gas (OGS - Free Report) is slated to report its fourth-quarter results on Feb 22, after market close. The Zacks Consensus Estimate for fourth-quarter earnings is pegged at $1.2 per share, implying a year-over-year increase of 7.14%.
DTE Transfer (DTE - Free Report) is slated to report its fourth-quarter results on Feb 23, before market open. The Zacks Consensus Estimate for fourth-quarter earnings is pegged at $1.21 per share, implying a year-over-year increase of 15.24%.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s an American AI company that’s riding low right now, but it has rounded up clients like BMW, GE, Dell Computer, and Bosch. It has prospects for not just doubling but quadrupling in the year to come. Of course, all our picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock And 4 Runners Up
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