Sep 30, 2023

UGI Q4 2023 Earnings Report

UGI reported a GAAP net loss and an adjusted net income, driven by record earnings in Utilities and Midstream & Marketing segments and actions to alleviate pressures in Global LPG businesses.

Key Takeaways

UGI Corporation reported a GAAP net loss of $(1,502) million and adjusted net income of $613 million for fiscal year 2023. The company issued fiscal 2024 adjusted diluted EPS guidance range of $2.70 - $3.00. Strategic accomplishments included record earnings at the Utilities and Midstream & Marketing segments, and the divestiture of energy marketing businesses in the UK and Belgium.

GAAP net loss of $(1,502) million and adjusted net income of $613 million.

GAAP diluted (loss) earnings per share (“EPS”) of $(7.16) and adjusted diluted EPS of $2.84.

Reportable segments earnings before interest expense and income tax of $1,158 million.

Issued fiscal 2024 adjusted diluted EPS guidance range of $2.70 - $3.00.

Total Revenue
$1.4B
Previous year: $1.93B
-27.4%
EPS
$0.03
Previous year: $1.13
-97.3%
Gross Profit
$568M
Previous year: $912M
-37.7%
Cash and Equivalents
$241M
Previous year: $405M
-40.5%
Free Cash Flow
-$54M
Previous year: -$385M
-86.0%
Total Assets
$15.4B
Previous year: $17.6B
-12.4%

UGI

UGI

Forward Guidance

UGI provides an adjusted EPS guidance range of $2.70 - $3.00 per diluted share for the fiscal year ending September 30, 2024. This guidance range assumes normal weather and the current tax regime.