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Dec 31, 2022
UGI Q1 2023 Earnings Report
UGI reported solid results driven by strong performance in natural gas businesses and strategic growth investments, despite inflationary pressures.
Key Takeaways
UGI Corporation reported a GAAP diluted EPS of $(4.54) and an adjusted diluted EPS of $1.14 for Q1 2023, compared to a GAAP diluted EPS of $(0.46) and an adjusted diluted EPS of $0.93 in the prior-year period. The company's Q1 EBIT was $411 million, up from $348 million in the prior-year period. Strong performance was driven by natural gas businesses and growth investments, offsetting the impact of high inflation.
Q1 GAAP diluted EPS was $(4.54), and adjusted diluted EPS was $1.14, compared to $(0.46) and $0.93, respectively, in the prior-year period.
Q1 EBIT for reportable segments reached $411 million, compared to $348 million in the prior-year period.
The company has approximately $1.2 billion in available liquidity.
Over $450 million has been committed to renewables projects to date.
Forward Guidance
UGI is confident in its strategic priorities and the resiliency of its diversified business, which it believes will continue to enable growth and create long-term shareholder value.
Positive Outlook
- Commitments to fully fund renewable natural gas (RNG) projects in New York and South Dakota, bringing total renewables investment to over $450 million to date.
- Strategic priorities
- Resiliency of diversified business
- Enable growth
- Create long-term shareholder value
Challenges Ahead
- Adverse weather conditions resulting in reduced demand
- Cost volatility and availability of energy products
- Changes in domestic and foreign laws and regulations
- Inability to timely recover costs through utility rate proceedings
Historical Earnings Impact
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Avg. Return Before/After Earnings
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