Ugi Corp (UGI)

Shares of UGI Corporation (UGI) dropped by 4.52% from $23.00 to $21.96 in the trading on Monday, October 02, 2023. The reason why UGI is down today is due to disappointing third-quarter results.

• Earnings Miss and Declining Revenues: UGI reported break-even earnings per share for the third quarter of fiscal 2023, falling significantly short of the Zacks Consensus Estimate of 7 cents per share. This marked a 100% miss compared to the expected earnings. In the same period in the previous year, the company had reported earnings of 6 cents per share. The company's adjusted earnings declined year-over-year, despite factors such as higher gas rates, increased customer growth in regulated utilities, improved margins from natural gas gathering and marketing activities, and increased LPG unit margins. These positive aspects were offset by rising operating and administrative expenses across all reportable segments.
• Decline in Total Revenues: Total revenues for the quarter amounted to $1,659 million, missing the Zacks Consensus Estimate of $2,515 million by 34%. This represented an 18.4% decline from the figure reported in the year-ago quarter, which was $2,033 million.

Shares of UGI Corporation (UGI) dropped by 4.52% from $23.00 to $21.96 in the trading on Monday, October 02, 2023. The reason why UGI is down today is due to disappointing third-quarter results.

• Earnings Miss and Declining Revenues: UGI reported break-even earnings per share for the third quarter of fiscal 2023, falling significantly short of the Zacks Consensus Estimate of 7 cents per share. This marked a 100% miss compared to the expected earnings. In the same period in the previous year, the company had reported earnings of 6 cents per share. The company's adjusted earnings declined year-over-year, despite factors such as higher gas rates, increased customer growth in regulated utilities, improved margins from natural gas gathering and marketing activities, and increased LPG unit margins. These positive aspects were offset by rising operating and administrative expenses across all reportable segments.
• Decline in Total Revenues: Total revenues for the quarter amounted to $1,659 million, missing the Zacks Consensus Estimate of $2,515 million by 34%. This represented an 18.4% decline from the figure reported in the year-ago quarter, which was $2,033 million.