VALLEY FORGE, PA — UGI Corporation (NYSE: UGI) reported first-quarter fiscal 2026 results showing lower earnings per share but improved segment profitability, as the energy distributor advances a series of international divestitures and rate filings aimed at strengthening its long-term financial profile.
For the fiscal quarter ended December 31, 2025, UGI posted GAAP diluted earnings per share of $1.34, down from $1.74 in the prior-year period. Adjusted diluted EPS was $1.26, compared to $1.37 a year earlier.
Despite the earnings decline, total reportable segment earnings before interest expense and income taxes climbed to $441 million, a 5 percent increase from $420 million in the prior-year quarter.
President and Chief Executive Officer Bob Flexon described the quarter as a solid start to fiscal 2026, citing strong performance in the company’s natural gas businesses driven by higher demand and the impact of a gas base rate case at its Pennsylvania utility. He said global LPG operations benefited from favorable weather in certain U.S. regions and operational improvements that offset the impact of divestitures.
In January 2026, UGI entered into definitive agreements to divest its LPG businesses in the Czech Republic, Hungary, Poland, Slovakia, and Romania for an enterprise value of approximately €48 million. Since fiscal 2025, UGI International has agreed to divest LPG operations in seven countries, representing roughly 5 percent of fiscal 2025 segment EBIT and expected to generate approximately $215 million in cash proceeds.
Also in January, Moody’s upgraded AmeriGas’ rating outlook from negative to positive, signaling improved credit stability.
Subsequent to the quarter, UGI Utilities and Mountaineer Gas filed base rate cases requesting overall distribution rate increases of $99 million and $27 million, respectively. The proposed increases are intended to support investments in aging infrastructure while maintaining safe and reliable service.
Flexon said the company continues to focus on operational discipline, capital allocation, and internal transformation initiatives designed to unlock incremental value.
UGI Corporation distributes and markets energy products and services in the United States and Europe through subsidiaries engaged in natural gas transmission and distribution, electric generation and distribution, midstream services, propane distribution, renewable natural gas generation, and energy marketing.
Comprehensive information about the company is available at https://www.ugicorp.com.
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