UGI Corporation (NYSE: UGI) has reported strong fiscal 2024 results, with GAAP net income of $269 million and adjusted net income of $658 million compared to a GAAP net loss of $(1,502) million and adjusted net income of $613 million in the prior year. The company also saw a solid growth in reportable segments earnings before interest expense and income tax1 ("EBIT"), delivering $1,178 million compared to $1,158 million in the prior year.
Furthermore, UGI achieved a $75 million reduction in operating and administrative expenses across all segments compared to the prior year and deployed approximately $900 million of capital with 80% allocated to regulated utilities and the midstream and marketing segment. The company also paid dividends for the 140th consecutive year, delivering a 10-year compound annual growth rate of 6%.
Looking ahead to fiscal 2025, UGI provided an adjusted diluted EPS guidance range of $2.75 * $3.05 per share. The company's board chair, Mario Longhi, emphasized the strong execution against their strategy and the record EBIT from their natural gas businesses, as well as sustainable reductions in operating and administrative expenses.
UGI's president and chief executive officer, Robert Flexon, highlighted that fiscal 2025 will be an important year as the company continues to reset the business and better position itself to advance on its value creation strategy. The outlook for 2025 includes an adjusted EPS guidance range of $2.75 * $3.05 per diluted share.
Following these announcements, the company's shares moved 7.5%, and are now trading at a price of $26.64. If you want to know more, read the company's complete 8-K report here.
