UGI Corp's (UGI) Q3 Earnings Beat Estimates, Revenues Miss

UGI Corporation UGI delivered third-quarter fiscal 2020 adjusted earnings of 8 cents per share. The Zacks Consensus Estimate was of a loss of 15 cents per share. The bottom line, however, decreased 38.5% from the prior-year quarter’s figure of 13 cents per share.

The company generated GAAP earnings of 41 cents per share in the reported quarter against the year-ago quarter’s GAAP loss of a cent.

Revenue Update

Revenues of $1,199.3 million in the fiscal third quarter missed the Zacks Consensus Estimate of $1,519 million by 21%.Also, the top line declined 12.1% from the year-ago quarter’s figure of $1,363.7 million.

Segmental Revenues

AmeriGas Propane: Revenues of $450.9 million in the quarter under review were down 5.8% from year-ago quarter’s number.

UGI International: Revenues summed $371.5 million, down 23.7% from the year-ago quarter’s figure.

Midstream & Marketing: Revenues of $222.5 million in the reported quarter fell16.8% year over year.

UGI Utilities: Revenues of $179.1 million were up 9.3% from the year-ago quarter’s reported figure.

Corporate & Other: This segment incurred a loss of $24.7 million, narrower than the loss of $2.8 million in third-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

Colder-than-normal weather in the company’s domestic business areas along with cost-management efforts supported the results, thereby offsetting the negative impact of waning demand from the commercial group due to COVID-19 pandemic.

As of Jun 30, the company’s total available liquidity was $1.6 billion, up from $1.2 billion at the end of Mar 31, 2020.

Total interest expenses of $80.8 million were up 33.6% from the prior-year quarter’s figure.


The company raised fiscal 2020 adjusted earnings per share outlook to $2.45-$2.55 including the negative impact of COVID-19 and a tax benefit.

Zacks Rank

UGI Corp 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 reported second-quarter 2020 earnings of 48 cents per share, beating the Zacks Consensus Estimate of 45 cents by 6.7%.

FirstEnergy Corporation FE delivered second-quarter 2020 operating earnings of 57 cents per share, which topped the Zacks Consensus Estimate of 55 cents by 3.64%.

NextEra Energy, Inc. NEE reported second-quarter 2020 adjusted earnings of $2.61 per share, surpassing the Zacks Consensus Estimate of $2.50 by 4.4%.

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