UGI Corporation, a holding company engaged in energy distribution, storage, and marketing, reported net income attributable to UGI Corporation of $678 million, or $3.09 per diluted share, for fiscal year 2025, compared to $269 million, or $1.25 per diluted share, in fiscal year 2024. These figures include net gains and losses from changes in unrealized commodity derivative instruments and certain foreign currency derivative instruments of $(14) million and $38 million in fiscal years 2025 and 2024, respectively. Adjusted net income attributable to UGI Corporation, a non-GAAP measure, was $728 million, or $3.32 per diluted share, in fiscal year 2025, up from $658 million, or $3.06 per diluted share, in the prior year.
The increase in adjusted net income was primarily driven by improved performance in the AmeriGas Propane and Midstream & Marketing segments, partially offset by a decrease in UGI International's earnings. Utilities adjusted net income remained relatively stable year-over-year. The company's financial performance was influenced by colder temperatures across all business segments in fiscal year 2025 compared to the previous year. Strategic developments during the year included the sale of UniverGas, UGI's LPG distribution business in Italy, which resulted in a pre-tax loss of $50 million, and the sale of AmeriGas Propane's business in Hawaii, generating a pre-tax gain of $17 million.
Key operational developments included a 10% increase in Gas Utility core market volumes due to colder weather, while total Gas Utility volume remained consistent due to lower large firm delivery service volumes. Electric Utility distribution sales volumes saw a slight increase of 1%. UGI International's LPG retail gallons sold decreased by 4% despite colder weather, attributed to structural conservation and customer migration. AmeriGas Propane's retail gallons sold also decreased slightly by 1%, with customer attrition offsetting the impact of colder temperatures.
Looking ahead, UGI anticipates having sufficient liquidity, including cash on hand and available borrowing capacity, to support long-term commitments and ongoing operations. The company's total available liquidity balance was approximately $1.6 billion at the end of fiscal year 2025. Capital expenditures are projected to increase to $1.053 billion in fiscal year 2026, with a focus on investments in the regulated utilities businesses. The company's business strategy remains focused on growing through core competencies in energy distribution, storage, transportation, and marketing, with an emphasis on operational improvements and portfolio optimization.
About UGI CORP /PA/
UGI Corporation is a diversified energy holding company engaged in distributing, storing, transporting, and marketing natural gas, electricity, propane, and renewable energy products. Its core segments include regulated utilities, midstream infrastructure, energy marketing, and international LPG distribution. Serving residential, commercial, and industrial customers primarily in the U.S. and Europe, UGI emphasizes operational efficiency, environmental sustainability, and reliable energy supply.
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