UGI (UGI) investor relations material

Strategic and financial overview

• Operates as a diversified energy distributor and marketer with a focus on natural gas, LPG, electricity, and renewables across 10 countries, serving 2.4 million customers and employing 9,400 people.

• Maintains a balanced business portfolio: 65% natural gas and 35% global LPG, with leading positions in regulated utilities and LPG distribution in the US and Europe.

• Targets 5–7% adjusted EPS CAGR through FY29, with a strong dividend history and a 5%+ average yield over three years.

• Capital allocation is heavily weighted toward natural gas, with ~77% of recent expenditures in this segment.

• Focuses on operational transformation, especially at AmeriGas, and strategic partnerships to drive growth.

Financial performance and outlook

• YTD FY26 adjusted diluted EPS was $3.35, down from $3.58 in YTD FY25, with GAAP diluted EPS at $3.68 versus $3.93.

• FY26 adjusted diluted EPS guidance updated to $2.75–$2.90 per share.

• Reportable segments EBIT increased to $1,129M in YTD FY26 from $1,112M in YTD FY25.

• Available liquidity stood at ~$2.1B as of March 31, 2026, with a leverage ratio of 3.7x, the lowest in five years.

• Over $5.6B in capital deployment planned for FY26–29, with 82% allocated to natural gas businesses.

Capital structure and optimization

• Executed a one-time $300M distribution from UGI International to AmeriGas Propane in May 2026, enabling AmeriGas to repay intercompany loans and address near-term debt maturities.

• Issued $500M in new AmeriGas debt due 2031 at 6.875% and €300M UGI International debt due 2031 at 5.00%.

• Achieved credit rating upgrades for AmeriGas and maintained modest leverage at UGI International.