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UGI Earnings Miss Estimates and Revenues Rise Y/Y in Q3
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UGI Corporation (UGI - Free Report) posted third-quarter fiscal 2022 operating earnings per share (EPS) of 6 cents, which missed the Zacks Consensus Estimate of 10 cents by 40%. The bottom line decreased by 53.8% from the year-ago earnings of 13 cents per share.
Total Revenues
Revenues of $2,033 million for the fiscal third quarter of 2022 improved by 35.9% from the year-ago quarter’s figure of $1,496 million.
AmeriGas Propane: Revenues of $597 million for the fiscal third quarter of 2022 were up 13.5% from the year-ago quarter’s $526 million.
UGI International: Revenues totaled $738 million, up 29% from the year-ago quarter’s $572 million.
Midstream & Marketing: Revenues of $525 million for the reported quarter increased 101.1% from the year-ago quarter’s $261 million.
UGI Utilities: Revenues of $274 million were up 51.4% from the year-ago quarter’s $181 million.
Corporate & Other: This segment incurred a loss of $101 million, wider than the loss of $44 million reported in the comparable quarter of last year.
Highlights of the Release
As of Jun 30, 2022, UGI reported a strong balance sheet, with available liquidity of approximately $2.1 billion.
Total interest expenses of $82 million were up 6.5% from the year-ago quarter’s $77 million.
Guidance
UGI reiterated its fiscal 2022 earnings guidance in the range of $2.90-$3.00 per share. The Zacks Consensus Estimate for fiscal 2022 earnings of $2.89 per share is lower than $2.95, the midpoint of the guided range. UGI expects long-term financial targets in the range of 6-10% EPS growth and 4% dividend growth.
Dominion Energy (D - Free Report) is scheduled to announce second-quarter 2022 results on Aug 8 before market open. The Zacks Consensus Estimate for earnings is pegged at 77 cents per share. Dominion Energy’s long-term earnings growth is projected at 6.4%.
Hawaiian Electric Industries (HE - Free Report) is scheduled to announce second-quarter 2022 results on Aug 8 after market close. The Zacks Consensus Estimate for earnings is pegged at 52 cents per share. Hawaiian Electric Industries’ long-term earnings growth is projected at 3.2%.
Southwest Gas Holdings (SWX - Free Report) is set to release second-quarter 2022 results on Aug 9 after market close. The Zacks Consensus Estimate for EPS is pegged at 49 cents. Southwest Gas’ long-term earnings growth is projected at 5%.
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UGI Earnings Miss Estimates and Revenues Rise Y/Y in Q3
UGI Corporation (UGI - Free Report) posted third-quarter fiscal 2022 operating earnings per share (EPS) of 6 cents, which missed the Zacks Consensus Estimate of 10 cents by 40%. The bottom line decreased by 53.8% from the year-ago earnings of 13 cents per share.
Total Revenues
Revenues of $2,033 million for the fiscal third quarter of 2022 improved by 35.9% from the year-ago quarter’s figure of $1,496 million.
UGI Corporation Price, Consensus and EPS Surprise
UGI Corporation price-consensus-eps-surprise-chart | UGI Corporation Quote
Segmental Results
AmeriGas Propane: Revenues of $597 million for the fiscal third quarter of 2022 were up 13.5% from the year-ago quarter’s $526 million.
UGI International: Revenues totaled $738 million, up 29% from the year-ago quarter’s $572 million.
Midstream & Marketing: Revenues of $525 million for the reported quarter increased 101.1% from the year-ago quarter’s $261 million.
UGI Utilities: Revenues of $274 million were up 51.4% from the year-ago quarter’s $181 million.
Corporate & Other: This segment incurred a loss of $101 million, wider than the loss of $44 million reported in the comparable quarter of last year.
Highlights of the Release
As of Jun 30, 2022, UGI reported a strong balance sheet, with available liquidity of approximately $2.1 billion.
Total interest expenses of $82 million were up 6.5% from the year-ago quarter’s $77 million.
Guidance
UGI reiterated its fiscal 2022 earnings guidance in the range of $2.90-$3.00 per share. The Zacks Consensus Estimate for fiscal 2022 earnings of $2.89 per share is lower than $2.95, the midpoint of the guided range. UGI expects long-term financial targets in the range of 6-10% EPS growth and 4% dividend growth.
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.
Upcoming Releases
Dominion Energy (D - Free Report) is scheduled to announce second-quarter 2022 results on Aug 8 before market open. The Zacks Consensus Estimate for earnings is pegged at 77 cents per share. Dominion Energy’s long-term earnings growth is projected at 6.4%.
Hawaiian Electric Industries (HE - Free Report) is scheduled to announce second-quarter 2022 results on Aug 8 after market close. The Zacks Consensus Estimate for earnings is pegged at 52 cents per share. Hawaiian Electric Industries’ long-term earnings growth is projected at 3.2%.
Southwest Gas Holdings (SWX - Free Report) is set to release second-quarter 2022 results on Aug 9 after market close. The Zacks Consensus Estimate for EPS is pegged at 49 cents. Southwest Gas’ long-term earnings growth is projected at 5%.