March 29, 2017 3:03 AM ET

Gas Utilities

Company Overview of UGI Utilities Inc.

Company Overview

UGI Utilities, Inc. operates as a public utility company in Pennsylvania. It owns and operates three natural gas distribution utilities and an electric distribution utility. The company operates in two segments, Gas Utility and Electric Utility. The Gas Utility segment provides natural gas distribution services to approximately 626,000 customers in 44 eastern and central Pennsylvania counties through its distribution system of approximately 12,000 miles of gas mains, as well as approximately 500 customers in portions of one Maryland County. The Electric Utility segment offers regulated electric distribution services to approximately 62,000 customers in Luzerne and Wyoming counties in northea...

2525 North 12th Street

Suite 360

Reading, PA 19605

United States

Founded in 1925

1,600 Employees

Phone:

610-796-3400

Key Executives for UGI Utilities Inc.

Chief Executive Officer, President and Director
Age: 51
Chief Financial Officer and Vice President of Finance
Age: 44
Vice President of Operations
Age: 64
Vice Chairman and President of UGI Corp
Age: 61
Chief Information Officer and Vice President
Compensation as of Fiscal Year 2016.

UGI Utilities Inc. Key Developments

UGI Utilities Inc. Announces Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016

UGI Utilities Inc. announced unaudited earnings results for the fourth quarter and full year ended December 31, 2016. For the quarter, the company reported total revenues of $1,679.5 million compared with $1,606.6 million for the same period a year ago. Total operating income was $466.2 million compared with $305.5 million for the same period a year ago. Income before income taxes was $378.7 million compared with $247.5 million for the same period a year ago. Net income attributable to UGI Corporation was $230.7 million compared with $114.6 million for the same period a year ago. Diluted earnings per share was $1.30 compared with $0.65 for the same period a year ago. Adjusted net income attributable to UGI Corporation was $160.9 million compared with $112.4 million for the same period a year ago. Adjusted diluted earnings per share was $0.91 compared with $0.64 for the same period a year ago. Adjusted net income excludes the impact of unrealized gains and losses on commodity and certain foreign currency derivative instruments, integration expenses associated with Finagaz, loss on an early extinguishment of debt, and the tax benefit from a reduction in the French income tax rate. For the full year, the company reported total revenues of $5,758.6 million compared with $6,293.1 million for the same period a year ago. Total operating income was $1,148.7 million compared with $1,057.1 million for the same period a year ago. Income before income taxes was $841.2 million compared with $816.0 million for the same period a year ago. Net income attributable to UGI Corporation was $480.8 million compared with $361.5 million for the same period a year ago. Diluted earnings per share was $2.72 compared with $2.06 for the same period a year ago. Adjusted net income attributable to UGI Corporation was $408.5 million compared with $347.5 million for the same period a year ago. Adjusted diluted earnings per share was $2.31 compared with $1.98 for the same period a year ago.

UGI Utilities Inc. Reports Unaudited Earnings Results for the Fourth Quarter and Year Ended September 30, 2016

UGI Utilities Inc. reported unaudited earnings results for the fourth quarter and year ended September 30, 2016. For the quarter, the company reported total revenue of USD 108.2 million compared to USD 110.2 million a year ago. Total operating income was USD 8.3 million compared to USD 3.2 million a year ago. Net loss attributable to the company was USD 1.8 million compared to USD 4.6 million a year ago. For the year, the company reported revenues of USD 768.5 million against USD 1,041.6 million a year ago. Operating income was USD 200.9 million against USD 241.7 million a year ago. Income before income taxes was USD 163.3 million against USD 200.6 million a year ago. Capital expenditures were USD 262.5 million against USD 197.7 million a year ago. Operating income decreased due to lower total margin, higher depreciation, and lower other operating income which includes higher environmental expense, lower margin from off-system sales, lower revenue from construction services, and higher interest on pgc overcollections. Net profit attributable to the company was USD 97.4 million compared to USD 121.1 million a year ago.

UGI Utilities Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended June 30, 2016; Revised Earnings Guidance for Fiscal Ending September 30, 2016

UGI Utilities Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended June 30, 2016. The group reported total revenue of $1,130.8 million, total operating income of $155.7 million, income before income taxes of $62.2 million, net income attributable to company of $60.7 million or $0.34 per diluted share against total revenue of $1,148.1 million, total operating income of $56.1 million, loss before income taxes of $11.4 million, net income attributable to company of $9.6 million or $0.05 per diluted share a year ago. Adjusted net income attributable to ugi corporation was $40 million or $0.23 per diluted share against $12.4 million or $0.07 per diluted share a year ago. Adjusted net income excludes the impact of unrealized gains and losses on commodity derivative instruments, acquisition and integration expenses for the Finagaz acquisition, and losses from early extinguishments of debt. For the nine months, the group reported total revenue of $4,709.5 million, total operating income of $1,076.6 million, income before income taxes of $867.8 million, net income attributable to company of $408.5 million or $2.33 per diluted share against total revenue of $5,608.3 million, total operating income of $841.5 million, income before income taxes of $655.7 million, net income attributable to company of $290.2 million or $1.65 per diluted share a year ago. Adjusted net income attributable to ugi corporation was $368.6 million or $2.10 per diluted share against $351.9 million or $2 per diluted share a year ago. Capital expenditures were $56.5 million against $43.3 million a year ago. Based on the results of the first nine months of the fiscal year, the company now expects full year adjusted earnings per share to be at the upper end, or slightly above, the guidance range of $1.95 to $2.05 for the fiscal year ending September 30, 2016, assuming normal weather.

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Recent Private Companies Transactions

Type
Date
Target
Private Placement
March 31, 2016
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