UGI Corporation Reports $479 Million Net Income for Q2 2025, Revenue Increases to $2.666 Billion

UGI Corporation reported a net income of $479 million for the three months ended March 31, 2025, translating to earnings of $2.19 per diluted share. This represents a slight decrease from the $496 million, or $2.30 per diluted share, reported in the same period last year. For the six-month period, net income rose significantly to $854 million, or $3.93 per diluted share, compared to $590 million, or $2.74 per diluted share, in the prior year. Total revenues for the three months increased to $2.666 billion from $2.467 billion, while for the six months, revenues rose to $4.696 billion from $4.588 billion. The increase in revenue was primarily driven by higher sales volumes and improved margins across several segments.

The company experienced notable changes in its operational performance compared to the previous fiscal period. Adjusted net income for the three-month period increased to $484 million from $423 million, reflecting higher earnings contributions from the Midstream & Marketing and Utilities segments. The Utilities segment saw an increase in adjusted net income of $11 million, attributed to higher core market volumes, while Midstream & Marketing's adjusted net income rose by $30 million, largely due to lower income tax expenses. Conversely, the AmeriGas Propane segment reported a decrease in adjusted net income of $12 million, despite higher retail propane volumes sold.

Strategically, UGI has made significant moves, including the exit from its European energy marketing business, which was completed in Fiscal 2024. This decision has impacted revenue streams, particularly in UGI International, where revenues decreased due to the absence of energy marketing activities. The company also engaged in various financing activities, including the issuance of senior notes and the establishment of a new credit agreement, which bolstered its liquidity position. As of March 31, 2025, UGI reported total available liquidity of approximately $1.9 billion.

Operationally, UGI's customer base and engagement metrics showed positive trends. The Utilities segment reported an 18% increase in core market volumes, driven by colder weather conditions compared to the previous year. The company also noted a significant increase in cash and cash equivalents, which rose to $426 million from $213 million at the end of the previous fiscal year. This increase in liquidity is expected to support ongoing operations and long-term commitments.

Looking ahead, UGI Corporation remains optimistic about its financial outlook, citing expected continued growth in its Utilities and Midstream & Marketing segments. The company anticipates that colder weather patterns will further drive demand for its services. However, it also acknowledges potential risks, including market volatility and regulatory challenges, which could impact future performance. UGI is committed to monitoring these factors closely as it navigates its strategic initiatives and operational goals.