UGI reports financial results, provides guidance for 2022

by Jonathan Adams
UGI Corporation

Our solid Fiscal 2021 results reflect the strength of our diversified business and the commitment and resiliency of our employees, said Roger Perreault, President and CEO of UGI Corporation

UGI Corporation reported financial results for the fiscal year ended September 30, 2021 and provided guidance for fiscal year 2022.

Our solid Fiscal 2021 results reflect the strength of our diversified business and the commitment and resiliency of our employees, said Roger Perreault, President and Chief Executive Officer of UGI Corporation.

We are proud to have delivered record adjusted diluted EPS of $2.96 and strong value creation for the year, while also making progress on environmental, social and governance (ESG) initiatives. During Fiscal 2021, we completed the acquisition of Mountaineer Gas Company and deployed a record level of capital at UGI Utilities.

Midstream & Marketing entered into several partnerships to produce RNG, with over $100 million committed during the year. We also made great progress to improve the weather resiliency of our business and enhance customer experience through our LPG business transformation initiatives, he said.

Further demonstrating our commitment to sustainability, we established a dedicated ESG team and committed to reducing Scope I greenhouse gas emissions by 55% by 2025 using 2020 as the base year. We made great strides in advancing Belonging, Inclusion, Diversity and Equity (BIDE) and were pleased to increase our domestic spend and commitment with diverse suppliers by over 20%, he said.

He said: As we turn to Fiscal 2022, we are well positioned to drive growth and create value for our investors, customers and employees. Our strategy of delivering reliable earnings growth, investing in renewable energy solutions and rebalancing our portfolio is delivering results. We will continue to execute our strategy to deliver on our long-term commitment of 6 to 10% EPS growth and 4% dividend growth. We look forward to discussing our long-term outlook at our Virtual Investor Day in December.



Important
This article is for information purposes only.
Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.
There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

Related News

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Know more