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UGI's fiscal Q3 adjusted net income misses Street estimate

UGI Corp. on Aug. 5 reported adjusted net income attributable to the company of $23.9 million, or 13 cents per share, in the fiscal third quarter, an increase from $15.1 million, or 9 cents per share, the previous year.

The results missed the S&P Global Market Intelligence consensus normalized EPS estimate for the quarter of 19 cents.

The company reported a GAAP net loss attributable to UGI of $1.9 million, or 1 cent per share, compared to a gain of $52.4 million, or 30 cents per share, in the same quarter a year earlier.

Total revenues amounted to $1.36 billion, down from $1.44 billion in the year-ago quarter.

UGI's natural gas and electric utility subsidiary UGI Utilities Inc. reported net income of $6.7 million, rising from a loss of $3.0 million in the prior-year period.

Total margin amounted to $102.0 million, an increase from $86.3 million in the previous year.

The utility contributed $163.9 million in revenues during the quarter, up from $159.9 million a year earlier.