HIGHLIGHTS
GAAP EPS of $(0.01) and adjusted EPS of $0.13 per diluted share compared to GAAP EPS of $0.30 and adjusted EPS of $0.09 per diluted share in the prior year.
The Company made substantial progress on investing our growing cash flows for the benefit of our shareholders. The previously announced acquisition of Columbia Midstream Group closed on August 1st and the merger with AmeriGas received regulatory approval and is expected to close later this quarter.
UGI Utilities filed a joint settlement petition with the PAPUC for a $30 million rate increase on July 22nd. The petition is currently under review by the PAPUC and is anticipated to become effective by early Fall.
"Our teams delivered a solid quarter by managing costs and optimizing operational efficiencies. Our focus on expense management was evident in the third quarter and these activities provide a foundation for significant, long-term efficiency gains. We continue to identify opportunities to grow and deliver value and expect to roll out various [REMOVIDO]s during our fiscal fourth quarter that will enable us to finish the year strong and benefit future performance," said John L. Walsh, president and chief executive officer of UGI Corporation. "The past several months have been transformational for our company with the announcement of the AmeriGas Merger and the closing of the Columbia Midstream Group acquisition, which enhances our geographic footprint, diversifies our network of assets, and establishes a full-scale midstream platform. These strategic investments align with our long-term strategy and position us well to deliver on our commitments to shareholders."
UGI Reports Third Quarter Results | UGI Corporation
