UGI Corp's (UGI) Q1 Earnings Beat Estimates, Revenues Miss

UGI Corporation (NYSE:UGI) delivered first-quarter fiscal 2020 adjusted earnings $1.17 per share, which beat the Zacks Consensus Estimate of $1.02 by 14.7%. The bottom line increased 44.4% from the prior-year quarter’s figure of 81 cents.

The company generated GAAP earnings of $1 in the reported quarter compared with the year-ago quarter’s GAAP earnings of 36 cents.

Revenues

Revenues of $2,006.6 million in the quarter missed the Zacks Consensus Estimate of $2,111 million by 4.9%. The top line declined 8.7% from the year-ago quarter’s figure of $2,200.2 million.

Segment Revenues

AmeriGas Propane: The segment generated revenues of $730.4 million in the quarter under review, down 11% from year-ago quarter’s tally.

UGI International: This segment generated revenues of $651.4 million, down 8.3% from year-ago quarter’s figure.

Midstream & Marketing: This segment generated revenues of $372.5 million in the quarter under review, down 19% from year-ago quarter’s figure

UGI Utilities: This segment generated revenues of $329.3 million in the quarter under review, up from year-ago quarter’s reported figure of $322.7 million.

Corporate & Other: This segment incurred a loss of $77 million narrower than a loss of $112.8 million incurred in fiscal first-quarter 2019.

Operational Highlights

Despite weather that was 10.3% warmer than normal and 2.7% warmer than the prior-year period, LPG retail volume increased 3.7% year over year or 246.4 million gallons reflecting strong bulk volumes associated with crop drying.

Total interest expenses amounted to $84.1 million, up 39.7% from the prior-year quarter’s tally.

On October 11, 2019, Gas Utility's new base rates went into effect. In the quarter under review, Auburn IV expansion completed and placed into service on Nov 1.

Zacks Rank

UGI currently has a Zacks Rank #4 (Sell).

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Other Releases

MDU Resources Group Inc. (NYSE:MDU) delivered fourth-quarter 2019 operating earnings of 47 cents per share, which increased 20.5% from the year-ago quarter’s level.

Xcel Energy (NASDAQ:XEL) posted fourth-quarter 2019 operating earnings of 56 cents per share, which beat the Zacks Consensus Estimate of 53 cents by 5.6%.

CMS Energy Corporation (NYSE:CMS) reported fourth-quarter 2019 adjusted earnings of 68 cents, which missed the Zacks Consensus Estimate of 69 cents.

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