Posted on Wed, Nov. 11, 2009
UGI Corp., the diversified Valley Forge energy provider, today reported a slightly larger quarterly loss and reaffirmed projected flat earnings growth for the coming fiscal year.
UGI, which owns the Amerigas Propane distributorship as well as gas and electric utilities, reported fourth-quarter net income of $258.5 million, or $2.36 per share, for its fiscal year ended Sept. 30, compared with $215.5 million, or $1.99 per diluted share for the comparable period last year.
It recorded a quarterly net loss of $0.10 per share compared with a net loss $0.06 per share for the same period in 2008.
Earnings from the propane and the gas utility improved over the year, while income fell at the electric utility and the energy services unit. Propane margins benefited by the rapid decline of wholesale propane costs.
Following the earnings release, UGI's shares were trading up 26 cents, or 1 percent, at $24.33.
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