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UGI Corp's (UGI) Q3 Earnings Beat Estimates, Revenues Miss
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UGI Corporation (UGI - Free Report) 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.
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.
Guidance
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.
ONE Gas Inc. (OGS - Free Report) reported second-quarter 2020 earnings of 48 cents per share, beating the Zacks Consensus Estimate of 45 cents by 6.7%.
FirstEnergy Corporation (FE - Free Report) 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 - Free Report) 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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UGI Corp's (UGI) Q3 Earnings Beat Estimates, Revenues Miss
UGI Corporation (UGI - Free Report) 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-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.
Guidance
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 - Free Report) reported second-quarter 2020 earnings of 48 cents per share, beating the Zacks Consensus Estimate of 45 cents by 6.7%.
FirstEnergy Corporation (FE - Free Report) 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 - Free Report) reported second-quarter 2020 adjusted earnings of $2.61 per share, surpassing the Zacks Consensus Estimate of $2.50 by 4.4%.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
See 8 breakthrough stocks now>>