Categories AlphaGraphs, Earnings, Energy

UGI Earnings: Highlights of UGI Corporation’s Q1 2023 financial results

UGI Corporation (NYSE: UGI) on Wednesday announced financial results for the first quarter of 2023, reporting an increase in net revenues.

UGI Corporation Q1 2023 earnings infographic

The Pennsylvania-based company’s adjusted earnings rose sharply to $1.14 per share from $0.93 per share last year. Revenues increased by 3% annually to $2.76 billion.

On a reported basis, UGI posted a net loss of $954 million or $4.54 per share for the first quarter, compared to a loss of $97 million of $0.46 per share in the corresponding period of last year.

“We had a solid start to fiscal 2023 with robust performance from our natural gas businesses and from the growth investments that we have made in recent years, despite the impact of high inflation. In comparison to the prior-year period, we had colder weather in the U.S. and this helped to offset the effects of significantly warmer weather in Europe,” said UGI’s CEO Roger Perreault.

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