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UGI's Loss Wider Than Expected in Q4, Revenues Rise Y/Y
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UGI Corporation (UGI - Free Report) reported a fourth-quarter fiscal 2021 loss of 34 cents per share, comparing unfavorably with the Zacks Consensus Estimate of a loss of 26 cents. The bottom line is wider than the year-ago quarter’s loss of 14 cents per share.
UGI generated GAAP earnings of $2.43 per share for the reported quarter, up from the year-ago quarter’s 5 cents.
Revenues
Revenues of $1,438 million for the fiscal fourth quarter improved 27.9% from the year-ago period’s number of $1,124 million and beat the Zacks Consensus Estimate of $1,338 million by 7.5%.
AmeriGas Propane: Revenues of $482 million for the quarter under review were up 21.1% from the year-ago period’s number.
UGI International: Revenues summed $545 million, up 36% from the year-ago quarter’s figure.
Midstream & Marketing: Revenues of $320 million for the reported quarter increased 39.1% year over year.
UGI Utilities: Revenues of $156 million were up 20.9% from the year-ago quarter’s figure.
Corporate & Other: This segment incurred a loss of $65 million, wider than the loss of $34 million reported in the comparable period of last year.
Highlights of the Release
In the reported quarter, UGI completed the Mountaineer Gas Company acquisition and committed an investment of more than $100 million to renewable natural gas projects.
Total interest expenses of $77 million were up 2.7% from the prior-year figure.
Guidance
UGI expects its fiscal 2022 adjusted earnings per share (EPS) in the range of $3.05-$3.25. The Zacks Consensus Estimate for the same is $3.28, beyond the higher end of the guided range.
UGI expects EPS to grow in the 6-10% band and dividend at 4% in the long term.
National Fuel Gas Company (NFG - Free Report) posted fourth-quarter fiscal 2021 adjusted operating earnings of 95 cents per share, which beat the Zacks Consensus Estimate of 78 cents by 21.8%. Total revenues of $356 million, however, missed the Zacks Consensus Estimate of $430 million by 17.3%.
National Fuel Gas revised its fiscal 2022 earnings guidance to the range of $5.05-$5.45 from the prior expectation of $4.40-$4.80. The new guidance takes into consideration the expected increase in the natural gas prices for fiscal 2022. NFG has returned 45.1% in the past 12 months compared with the industry’s rally of 18.1%.
Chesapeake Utilities Corp. (CPK - Free Report) posted third-quarter 2021 adjusted operating earnings of 71 cents per share, which beat the Zacks Consensus Estimate of 54 cents by 31.5%. Total revenues of $107 million, however, missed the Zacks Consensus Estimate of $114 million by 5.8%.
Chesapeake Utilities’ capital expenditure guidance for the 2021-2025 time period is projected in the range of $750-$1 billion. CPK raised its earnings per share guidance to $6.05-$6.25 for 2025. The stock has returned 25% in the past 12 months.
ONE Gas Inc. (OGS - Free Report) reported third-quarter 2021 earnings of 38 cents per share, on par with the Zacks Consensus Estimate. Revenues of $273.9 million for the quarter surpassed the Zacks Consensus Estimate of $261 million by 4.9%.
ONE Gas narrowed its 2021 net income guided range to $204-$209 million from $198-$210 million and earnings per share expectation to $3.80-$3.90 from the $3.68-$3.92 band. The Zacks Consensus Estimate for OGS’ 2021 earnings has moved 0.8% up in the past 60 days to $3.84 per share.
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UGI's Loss Wider Than Expected in Q4, Revenues Rise Y/Y
UGI Corporation (UGI - Free Report) reported a fourth-quarter fiscal 2021 loss of 34 cents per share, comparing unfavorably with the Zacks Consensus Estimate of a loss of 26 cents. The bottom line is wider than the year-ago quarter’s loss of 14 cents per share.
UGI generated GAAP earnings of $2.43 per share for the reported quarter, up from the year-ago quarter’s 5 cents.
Revenues
Revenues of $1,438 million for the fiscal fourth quarter improved 27.9% from the year-ago period’s number of $1,124 million and beat the Zacks Consensus Estimate of $1,338 million by 7.5%.
UGI Corporation Price, Consensus and EPS Surprise
UGI Corporation price-consensus-eps-surprise-chart | UGI Corporation Quote
Segmental Revenues
AmeriGas Propane: Revenues of $482 million for the quarter under review were up 21.1% from the year-ago period’s number.
UGI International: Revenues summed $545 million, up 36% from the year-ago quarter’s figure.
Midstream & Marketing: Revenues of $320 million for the reported quarter increased 39.1% year over year.
UGI Utilities: Revenues of $156 million were up 20.9% from the year-ago quarter’s figure.
Corporate & Other: This segment incurred a loss of $65 million, wider than the loss of $34 million reported in the comparable period of last year.
Highlights of the Release
In the reported quarter, UGI completed the Mountaineer Gas Company acquisition and committed an investment of more than $100 million to renewable natural gas projects.
Total interest expenses of $77 million were up 2.7% from the prior-year figure.
Guidance
UGI expects its fiscal 2022 adjusted earnings per share (EPS) in the range of $3.05-$3.25. The Zacks Consensus Estimate for the same is $3.28, beyond the higher end of the guided range.
UGI expects EPS to grow in the 6-10% band and dividend at 4% in 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 Releases
National Fuel Gas Company (NFG - Free Report) posted fourth-quarter fiscal 2021 adjusted operating earnings of 95 cents per share, which beat the Zacks Consensus Estimate of 78 cents by 21.8%. Total revenues of $356 million, however, missed the Zacks Consensus Estimate of $430 million by 17.3%.
National Fuel Gas revised its fiscal 2022 earnings guidance to the range of $5.05-$5.45 from the prior expectation of $4.40-$4.80. The new guidance takes into consideration the expected increase in the natural gas prices for fiscal 2022. NFG has returned 45.1% in the past 12 months compared with the industry’s rally of 18.1%.
Chesapeake Utilities Corp. (CPK - Free Report) posted third-quarter 2021 adjusted operating earnings of 71 cents per share, which beat the Zacks Consensus Estimate of 54 cents by 31.5%. Total revenues of $107 million, however, missed the Zacks Consensus Estimate of $114 million by 5.8%.
Chesapeake Utilities’ capital expenditure guidance for the 2021-2025 time period is projected in the range of $750-$1 billion. CPK raised its earnings per share guidance to $6.05-$6.25 for 2025. The stock has returned 25% in the past 12 months.
ONE Gas Inc. (OGS - Free Report) reported third-quarter 2021 earnings of 38 cents per share, on par with the Zacks Consensus Estimate. Revenues of $273.9 million for the quarter surpassed the Zacks Consensus Estimate of $261 million by 4.9%.
ONE Gas narrowed its 2021 net income guided range to $204-$209 million from $198-$210 million and earnings per share expectation to $3.80-$3.90 from the $3.68-$3.92 band. The Zacks Consensus Estimate for OGS’ 2021 earnings has moved 0.8% up in the past 60 days to $3.84 per share.