UGI Q1 2024 Earnings Report

UGI reported strong first quarter results driven by UGI International and natural gas businesses, offset by a decline in AmeriGas performance.

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.

Total Revenue

$2.12B

Previous year: $2.76B

Utilities Throughput Core Market