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UGI Earnings Beat Estimates and Revenues Rise Y/Y in Q2

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UGI Corporation (UGI - Free Report) posted second-quarter fiscal 2022 operating earnings per share (EPS) of $1.91, which surpassed the Zacks Consensus Estimate of $1.88 by 1.6%. However, the bottom line decreased by 4% from the year-ago earnings of $1.99 per share.

Total Revenues

Revenues of $3,466 million for the fiscal second quarter of 2022 improved by 34.3% from the year-ago quarter’s figure of $2,581 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

Segmental Results

AmeriGas Propane: Revenues of $1,048 million for the fiscal second quarter of 2022 were up 11.5% from the year-ago quarter’s $940 million.

UGI International: Revenues totaled $1,224 million, up 46.8% from the year-ago quarter’s $834 million.

Midstream & Marketing: Revenues of $671 million for the reported quarter increased 38.6% from the year-ago quarter’s $484 million.

UGI Utilities: Revenues of $707 million were up 60% from the year-ago quarter’s $442 million.

Corporate & Other: This segment incurred a loss of $184 million, wider than the loss of $119 million reported in the comparable quarter of last year.

Highlights of the Release

UGI’s Natural gas businesses delivered strong resultsdue to incremental earnings from Mountaineer and higher base rates at UGI Utilities.

As of Mar 31, 2022, UGI reported a strong balance sheet, with available liquidity of approximately $1.9 billion

Total interest expenses of $82 million were up 5.1% from the year-ago quarter’s $78 million.

Guidance

UGI updated its fiscal 2022 earnings guidance in the range of $2.90-$3.00 per share. The Zacks Consensus Estimate for fiscal 2022 earnings of $2.65 per share is lower than $2.95, the midpoint of the guided range. UGI targets long-term EPS growth in the range of 6-10%.

Zacks Rank

UGI currently has a Zacks Rank #5 (Strong Sell).

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

Upcoming Releases

Spire (SR - Free Report) is scheduled to announce first-quarter 2022 results on May 6 before market open. The Zacks Consensus Estimate for earnings is pegged at $3.08 per share.

Spire’s long-term earnings growth is projected at 5%. The Zacks Consensus Estimate for SR’s 2023 EPS suggests year-over-year growth of 11.3%.

Duke Energy (DUK - Free Report) is set to release first-quarter 2022 results on May 9 before market open. The Zacks Consensus Estimate for EPS is pegged at $1.37.

Duke Energy’s long-term earnings growth is projected at 6.2%. The Zacks Consensus Estimate for DUK’s 2022 EPS indicates year-over-year growth of 4.2%.

Algonquin Power & Utilities (AQN - Free Report) is set to release first-quarter 2022 results on May 12 after market close. The Zacks Consensus Estimate for EPS is pegged at 23 cents.

Algonquin Power & Utilities’ long-term (three to five years) earnings growth is projected at 8.1%. The Zacks Consensus Estimate for AQN’s 2022 EPS indicates year-over-year growth of 5.6%.