Ugi Corporation · NYSE:UGI
Ugi — Q1 FY2020 Earnings Presentation
20 slides from Ugi's earnings presentation, Feb 6, 2020
Slide 1: Fiscal 2020 First Quarter Results
Fiscal 2020 First Quarter Results John L. Walsh President & CEO, UGI Corporation Ted J. Jastrzebski Chief Financial Officer, UGI Corporation Robert F. Beard Executive Vice President Natural Gas, UGI Corporation
Slide 2: About This Presentation
About This Presentation This presentation contains certain forward-looking statements that management believes to be reasonable as of today’s date only. Actual results may differ significantly because of risks and uncertainties that are difficult to predict and many of which are beyond management’s
Slide 3: First Quarter Recap
First Quarter Recap 3 John L. Walsh President & CEO, UGI
Slide 4: First Quarter Earnings Recap
First Quarter Earnings Recap • GAAP EPS of $1.00 and Adjusted EPS1 of $1.17 • Domestic temperatures were warmer than prior year and less volatile • International temperatures were significantly warmer than normal and warmer than prior year Adjusted EPS1 Q1 2020 Weather Versus: Normal Midstream & Ame
Slide 5: Key Accomplishments
Key Accomplishments • Midstream & Marketing had a very successful first full quarter with the CMG systems and team fully integrated. The additional fee- based revenue contributed to a 45% EBIT increase vs. the prior year. • Utilities added approximately 4,000 new residential heating and commercial c
Slide 6: First Quarter Financial Review
First Quarter Financial Review Ted J. Jastrzebski Chief Financial Officer, UGI
Slide 7: First Quarter Adjusted Earnings
First Quarter Adjusted Earnings UGI Corporation | Fiscal 2020 First Quarter Results 7
Slide 8: First Quarter Results Recap
First Quarter Results Recap Adjusted EPS1 $0.14 $0.00 $0.01 $(0.05) $1.173 $1.17 $0.26 $0.29 UGI Utilities 1 $0.81 $0.812 Midstream & $0.17 Marketing $0.28 UGI $0.34 International Adjusted EPS Adjusted 1.2% 2.7% 4.6% 3.7% $0.17 Warmer Warmer Warmer Warmer than prior year $0.20 $0.43 $0.17 AmeriGas Q
Slide 9: Financial Results - AmeriGas
Financial Results - AmeriGas (Millions of dollars) FY 2019 FY 2020 Weather versus normal Earnings Before Interest Expense & Income Taxes $166.6 Total Margin (0.5) Operating and Administrative Expenses (4.9) 4.9% Depreciation and Amortization 1.8 3.7% Other Income and Expense, net 2.3 Q1 2019 Q1 2020
Slide 10: Financial Results – UGI International
Financial Results – UGI International (Millions of dollars) FY 2019 FY 2020 Weather versus normal Earnings Before Interest Expense & Income Taxes $59.0 Colder Total Margin 30.9 Operating and Administrative Expenses 6.9 Realized FX Gains 3.6 Other Income and Expense, net (0.2) Earnings Before Interes
Slide 11: Financial Results – Midstream & Marketing
Financial Results – Midstream & Marketing (Millions of dollars) FY 2019 FY 2020 Weather versus normal Earnings Before Interest Expense & Income Taxes $42.6 Colder Total Margin 26.4 Operating and Administrative Expenses (5.7) Depreciation and Amortization (6.9) 4.1% Slightly Other Income and Expense,
Slide 12: Financial Results – Utilities
Financial Results – Utilities (Millions of dollars) FY 2019 FY 2020 Weather versus normal Earnings Before Interest Expense & Income Taxes $77.4 Colder Total Margin 14.7 Operating and Administrative Expenses 3.1 Depreciation (3.2) Other Income and Expense, net (0.4) (0.5)% (4.2)% Earnings Before Inte
Slide 13: Update on CMG Acquisition & Natural Gas Business
Update on CMG Acquisition & Natural Gas Business Robert F. Beard Executive Vice President Natural Gas, UGI
Slide 14: Update
Update • CMG delivered solid performance in Q1 • Driven by throughput contracts and efficiency gains • $300 - $500 million of expansion opportunities • Auburn IV placed in service November 1st; increasing the throughput of the system by over 40% • PennEast recently filed two requests with FERC • Rou
Slide 15: Conclusion and Q&A
Conclusion and Q&A John L. Walsh President & CEO, UGI
Slide 16: Strategic Overview
Strategic Overview • Continue to see significant demand for LNG peaking • Bethlehem storage and vaporization facility remains on schedule for late 2020 completion • Portable LNG systems • Remain active in the NE Marcellus • Auburn IV expansion project placed in service November 1st, supported by 10-
Slide 17: Q&A
Q&A
Slide 18: Appendix
Appendix
Slide 19: UGI Supplemental Footnotes
UGI Supplemental Footnotes • Management uses "adjusted net income attributable to UGI Corporation" and "adjusted earnings per share," both of which are non-GAAP financial measures, when evaluating UGI's overall performance. Management believes that these non-GAAP measures provide meaningful informat
Slide 20: Investor Relations
Investor Relations: Brendan Heck Alanna Zahora 610-456-6608 610-337-1004 heckb@ugicorp.com zahoraa@ugicorp.com