Ugi Corp Stock Price, News & Analysis

Archaea Energy reported strong financial results for Q2 and the first half of 2022, with revenues of $77.2 million and net income of $32.6 million for Q2. For the six months, revenues reached $134.1 million but net income was slightly negative at $0.5 million. The company increased its full-year Adjusted EBITDA guidance to $132.5 million - $147.5 million and capital expenditures to $325 million - $365 million. Recent strategic moves include the acquisition of INGENCO and the formation of a joint venture with Republic Services, aiming to boost their renewable natural gas production.

UGI Corporation (NYSE: UGI) reported Q3 fiscal results, showing a decline in GAAP diluted EPS to $(0.03) and adjusted diluted EPS to $0.06, compared to $0.71 and $0.13 in the prior year. Year-to-date, GAAP diluted EPS is $3.84, down from $4.48. Q3 EBIT rose to $100 million from $98 million. The company announced a $49.45 million gas rate increase pending PA PUC approval. Despite strong customer growth, UGI expects to be at the lower end of its EPS guidance of $2.90 to $3.00 due to economic uncertainties and inflationary pressures.

UGI Corporation (NYSE: UGI) has declared a quarterly dividend of $0.36 per share, payable on October 1, 2022, to shareholders on record as of September 15, 2022. This marks the company's 138th consecutive year of paying dividends and a 35-year streak of annual increases. Additionally, a 0.125% per annum cash dividend on convertible preferred stock is set for September 1, 2022.

UGI operates in energy distribution and marketing, including natural gas and electric utilities, LPG distribution, and energy marketing services.

Archaea Energy Inc. (NYSE: LFG) has signed a five-year RNG purchase and sale agreement with UGI Utilities for 331,785 MMBtu of renewable natural gas (RNG) annually from its Assai RNG facility, effective July 1, 2022. This partnership marks Archaea's second term agreement with a U.S. utility, aiming to enhance sustainability efforts and reduce environmental footprints. Archaea, a prominent RNG producer, focuses on long-term contracts to provide sustainable decarbonizing solutions, leveraging its expertise in RNG development and operation.

UGI Corporation (NYSE:UGI) will release its third fiscal quarter earnings report after market closure on August 3. The company will host a live audio webcast to discuss the results at 9:00 AM ET on August 4. UGI operates energy distribution and marketing, including natural gas, electric utilities, and LPG services in regions like Pennsylvania and internationally in Europe. Investors can access the webcast stream at UGI's official investor relations page.

UGI Corporation has announced the appointment of Michelle Bimson Maggi as the first woman to chair the National Propane Gas Association (NPGA). As Vice President of Law at AmeriGas, she brings extensive experience in legal and risk management. Bimson Maggi aims to enhance NPGA’s advocacy and diversity efforts, emphasizing the importance of the propane industry to the U.S. economy. The industry employs over 57,000 workers and plays a significant role in environmental contributions.

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UGI Energy Services LLC (UGIES), a subsidiary of UGI Corporation, has contributed $200,000 to 70 schools through Pennsylvania's Opportunity Scholarship Tax Credit (OSTC) program. This year's spring visit involved meeting with 17 organizations, presenting approximately one-third of the contributions in-person. Since 2014, UGIES has donated over $2 million in scholarships to assist students in low-achieving districts. The company emphasizes its commitment to education and community support, marking its seventh year in the OSTC program.

UGI Energy Services announced a major investment in renewable natural gas (RNG) through an agreement with MBL Bioenergy, funding over $70 million for RNG projects in South Dakota. The first cluster of projects will be located at three farms near Sioux Falls and is expected to produce approximately 300 million cubic feet of RNG annually by 2024. This partnership aims to reduce greenhouse gas emissions and bolster UGI's earnings from RNG projects, as they continue to explore sustainable energy solutions.