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UGI Corporation (UGI+1.31%) has submitted its Form 10-Q filing for the quarterly period ended December 31, 2024.
The filing reports a net income attributable to UGI Corporation of $375 million, or $1.74 per diluted share, compared to $94 million, or $0.44 per diluted share, for the same period in the previous year.
Adjusted net income attributable to UGI Corporation was $295 million, or $1.37 per diluted share, compared to $258 million, or $1.20 per diluted share, in the prior year period.
Utilities segment reported an increase in total margin due to higher base rates and customer growth, despite warmer-than-normal temperatures.
Midstream & Marketing segment experienced a decrease in total margin primarily due to lower natural gas marketing activities and the absence of contributions from a sold subsidiary.
UGI International's results were impacted by the exit from its energy marketing business in Europe, resulting in lower revenues and margins.
AmeriGas Propane reported a slight increase in operating income due to lower operating expenses, despite a decrease in retail gallons sold.
UGI Corporation's liquidity remains strong with total available liquidity of approximately $1.5 billion as of December 31, 2024.
Significant financing activities included the issuance of senior notes by UGI Utilities and the establishment of a new credit agreement by UGI Corporation.
UGI Corporation declared a quarterly dividend of $0.375 per common share, payable on April 1, 2025.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the UGI Corporation quarterly 10-Q report dated February 6, 2025. To report an error, please email earnings@qz.com.