UGI Q1 2024 Earnings Report
Key Takeaways
UGI Corporation reported a GAAP diluted EPS of $0.44 and an adjusted diluted EPS of $1.20 for Q1 2024, compared to a GAAP diluted EPS of $(4.54) and an adjusted diluted EPS of $1.14 in the prior-year period. The company's Q1 EBIT was $425 million, up from $411 million in the prior-year period. The results were driven by a 77% increase in EBIT from UGI International, although AmeriGas experienced a decline in year-over-year financial results.
GAAP diluted EPS was $0.44, and adjusted diluted EPS was $1.20, compared to GAAP diluted EPS of $(4.54) and adjusted diluted EPS of $1.14 in the prior-year period.
Q1 reportable segments EBIT was $425 million, compared to $411 million in the prior-year period.
UGI International EBIT increased by 77% due to the exit of the non-core energy marketing business, higher LPG volumes, and increased unit margins.
The company has available liquidity of approximately $1.5 billion as of December 31, 2023.
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Forward Guidance
The press release does not contain forward guidance.