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UGI Corp's (UGI) Q2 Earnings Beat Estimates, Revenues Miss

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UGI Corporation (UGI - Free Report) delivered second-quarter fiscal 2020 adjusted earnings of $1.56 per share, which beat the Zacks Consensus Estimate of $1.50 by 4%. The bottom line increased 9% from the prior-year quarter’s figure of $1.43.

The company generated GAAP earnings of $1.07 in the reported quarter compared with the year-ago quarter’s GAAP earnings of $1.38.

Revenues

Revenues amounted to $2,228.9 million in the quarter, which missed the Zacks Consensus Estimate of $2,318 million by 3.8%. The top line declined 14.5% from the year-ago quarter’s figure of $2,606.1 million.

Segment Revenues

AmeriGas Propane: The segment generated revenues of $802 million in the quarter under review, down 17.5% from year-ago quarter’s tally.

UGI International: Revenues in the segment amounted to $703.4 million, down 10.2% from year-ago quarter’s figure.

Midstream & Marketing: This segment generated revenues of $422.2 million in the quarter under review, down 22.2% year over year.

UGI Utilities: This segment generated revenues of $392.6 million in the quarter under review, down from year-ago quarter’s reported figure of $429.6 million.

Corporate & Other: This segment incurred a loss of $91.3 million, which was narrower than a loss of $120.7 million in second-quarter fiscal 2019.

UGI Corporation Price, Consensus and EPS Surprise

 

UGI Corporation Price, Consensus and EPS Surprise

UGI Corporation price-consensus-eps-surprise-chart | UGI Corporation Quote

 

Operational Highlights

Volumes in the quarter were significantly hurt due to warmer-than-normal weather in all service territories.

As of Mar 31, the company’s total available liquidity was $1.2 billion. In April, the company increased its dividend for the 33rd consecutive year.

Total interest expenses amounted to $82.4 million, up 35.08% from the prior-year quarter’s tally.

Guidance

The company slashed capital expenditures guidance to $730 million from $850 million for fiscal 2020 considering the impact of the COVID-19 outbreak.

It updated fiscal 2020 adjusted earnings per share guidance to $2.45-$2.55, prior to the COVID-19 impact. It now anticipates that the pandemic could negatively impact earnings by an additional 20-30 cents per share.

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

ONE Gas Inc. (OGS - Free Report) reported first-quarter 2020 earnings of $1.72 per share, which lagged the Zacks Consensus Estimate of $1.78 by 3.4%.

FirstEnergy Corporation (FE - Free Report) delivered first-quarter 2020 operating earnings of 66 cents per share, which beat the Zacks Consensus Estimate of 64 cents by 3.13%.

NextEra Energy (NEE - Free Report) reported first-quarter 2020 adjusted earnings of $2.38 per share, which surpassed the Zacks Consensus Estimate of $2.21 by 7.7%.

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