Ugi Corporation · NYSE:UGI
Ugi — Q1 2025 Earnings Presentation
20 slides from Ugi's earnings presentation, Feb 6, 2025
Slide 1: Fiscal 2025 First Quarter Earnings Presentation
Fiscal 2025 First Quarter Earnings Presentation February 6, 2025
Slide 2: About This Presentation
About This Presentation This presentation contains statements, estimates and projections that are forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended). Such statements use forward-looking
Slide 3: Bob Flexon and Sean O'Brien
Bob Flexon Sean O’Brien President & Chief Executive Officer Chief Financial Officer
Slide 4: Q1 FY25 Highlights
Q1 FY25 Highlights ✓ 14% increase in Adjusted Diluted EPS driven by solid business performance and benefits from our tax Q1 FY25 GAAP diluted EPS of optimization strategies $1.74 vs. $0.44 in Q1 FY24 ❑ Natural Gas - Strong gas demand and higher gas rates at Mountaineer, our West Virginia gas utility
Slide 5: FY25 Strategic Priorities
FY25 Strategic Priorities Improved financial Talent and Onboarding our new business leader – profile culture President, AmeriGas Propane Organizational design n Identification of core focus areas to drive better business performance Operating Portfolio model and optimization processes Core Focus Are
Slide 6: Q1 FY25 Financial Results
Q1 FY25 Financial Results Q1 FY25 GAAP diluted EPS of $1.74 vs. $0.44 in Q1 FY24 Q1 FY25 Adjusted Diluted EPS – Comparison with Q1 FY241 Q1 FY25 EBIT Comparison with Q1 FY242 ($ in million) $425 $420 $135 Utilities $141 Midstream & $102 $95 Marketing UGI $117 $110 International $71 AmeriGas $74 Prop
Slide 7: Segment Results Recap – Natural Gas
Q1 FY25 Segment Results Recap – Natural Gas Q1 FY25 EBIT - Comparison with Q1 FY24 ($ in million) Utilities Midstream & Marketing Q1 FY24 Total OPEX D&A Other Q1 FY25 Q1 FY24 Total OPEX D&A Other Q1 FY25 EBIT Margin EBIT EBIT Margin EBIT Key Drivers Key Drivers • Core market volumes increased 3% lar
Slide 8: Segment Results Recap – Global LPG
Q1 FY25 Segment Results Recap – Global LPG Q1 FY25 EBIT - Comparison with Q1 FY24 ($ in million) UGI International AmeriGas Propane Q1 FY24 Total OPEX D&A Other Q1 FY25 Q1 FY24 Total OPEX D&A Other Q1 FY25 EBIT Margin EBIT EBIT Margin EBIT Key Drivers Key Drivers • Retail volumes were 2% higher larg
Slide 9: Liquidity and Balance Sheet Update
Liquidity and Balance Sheet Update ❑ $1.5 billion in available liquidity, comprising cash and cash equivalents and available borrowing capacity on revolving credit facilities, as of December 31, 2024 ❑ On February 5, 2025, AmeriGas issued a notice of redemption to fully redeem its outstanding 5.50%
Slide 10: Shareholder Value Proposition
Shareholder Value Proposition International energy distributor with an attractive business mix and leading position in key markets 75%+ Targeted Earnings from the Natural Gas Businesses1 Relentless focus on the customers’ experience Focused on prudent capital allocation while investing in growth and
Slide 11: UGI Corporation
CORPORATION
Slide 12: Appendix
UGI APPENDIX CORPORATION
Slide 13: Our Natural Gas Businesses
Our Natural Gas Businesses Utilities • ~$4.2 billion rate base1 Segment • 2nd largest regulated gas utility in Pennsylvania (PA)2 • Largest regulated gas utility in West Virginia (WV)2 • Weather normalization at the PA Gas Utility promotes earnings stability • Authorized gas ROEs of 10.15% (DSIC3) i
Slide 14: Our Global LPG Businesses
Our Global LPG Businesses UGI • LPG distribution in 16 countries in Europe through 6 well-known brands International Segment o Largest LPG distributor1,2 in France, Austria, Belgium, Denmark and Luxembourg; among the largest distributors of LPG1,2 in Hungary, Norway, Poland, the Czech Republic, Slov
Slide 15: FY25 Guidance
FY25 Guidance1 Adjusted Diluted EPS Guidance2 Capital Expenditure Rate Base Growth $2.75 - $3.05 $800 - $900 Million 9%+ 1. The forward-looking information used on this slide is for illustrative purposes only. Actual numbers may differ substantially from the figures presented. 2. Because we are unab
Slide 16: Adjusted Diluted Earnings per Share
Q1 FY25 Adjusted Diluted Earnings per Share Q1 FY25 Q1 FY24 Utilities $0.41 $0.40 Midstream & Marketing 0.41 0.43 UGI International 0.46 0.39 AmeriGas Propane (0.21) 0.07 Corporate & Other (a) 0.67 (0.85) Diluted earnings per share 1.74 0.44 Net (gains) losses on commodity derivative instruments not
Slide 17: Adjusted Net Income
Q1 FY25 Adjusted Net Income ($ in Million) Q1 FY25 Q1 FY24 Utilities $89 $86 Midstream & Marketing 89 92 UGI International 100 83 AmeriGas Propane (46) 16 Corporate & Other (a) 143 (183) Net income attributable to UGI Corporation 375 94 Net (gains) losses on commodity derivative instruments not asso
Slide 18: Segment Reconciliation (GAAP)
Q1 FY25 Segment Reconciliation (GAAP) Midstream UGI AmeriGas Corp & ($ in Million) Total Utilities & Marketing International Propane Other Revenues $2,030 $485 $367 $638 $627 $(87) Cost of sales (923) (204) (229) (374) (280) 164 Total margin $1,107 $2811 $138 $264 $347 $77 1 Operating and administra
Slide 19: UGI Corporation Adjusted EBITDA (non-GAAP)
Q1 FY25 UGI Corporation Adjusted EBITDA (non-GAAP) ($ in Million) Q1 FY25 Q1 FY24 Net income attributable to UGI Corporation $375 $94 Income taxes 42 26 Interest expense 102 100 Depreciation and amortization 138 137 EBITDA 657 357 Unrealized losses (gains) on commodity derivative instruments (78) 95
Slide 20: Investor Relations
Investor Relations: Tameka Morris Arnab Mukherjee morrista@ugicorp.com mukherjeea@ugicorp.com