Energy company UGI Corporation (NYSE: UGI) reported a double-digit fall in revenues for the third quarter of 2023. The company also provided guidance for the full fiscal year.
On an adjusted basis, it was breakeven for the June quarter, compared to earnings of $0.06 per share a year earlier. On a reported basis, the net loss widened to $789 million or $3.76 per share in Q3 from $7 million or $0.03 per share in the third quarter of 2022.
The bottom line was negatively impacted by an 18% fall in revenues to $1.66 billion. All operating segments, except Utilities, declined. For fiscal 2023, the management expects adjusted earnings per share to be in the range of $2.75 per share to $2.90 per share.