UGI Corp (UGI) Sees FY16 EPS at or Above Upper End of $1.95-$2.05

UGI Corporation (NYSE: UGI) today announced that it expects to report diluted earnings per share of $1.98 to $2.08 and continues to expect adjusted diluted earnings per share to be at the upper end, or slightly above, our guidance range of $1.95 to $2.05 per share for the fiscal year ended September 30, 2016 (*** consensus is $2.01). A reconciliation of the expected adjusted diluted earnings per share to the expected GAAP diluted earnings per share, as well as the information about why management believes that the non-GAAP financial measures set forth in this release provide useful information to investors about the company’s results of operations, are set forth at the end of this release.

John L. Walsh, president and chief executive officer of UGI, said, "In conjunction with the guidance revision issued today by AmeriGas, we wanted to confirm that we expect adjusted earnings to be at the upper end, or slightly above, our guidance range. This has been a year of strong execution during which we made significant progress on our growth initiatives and anticipate delivering record EPS in spite of warm weather.”

Walsh continued, “We are pleased to announce our guidance for fiscal year 2017. Assuming normal weather patterns and excluding mark-to-market gains and losses on commodity derivative instruments and Finagaz integration expenses, we expect to report adjusted diluted earnings of $2.30 to $2.45 per share for the year ending September 30, 2017.” (**** consensus is $2.34).

UGI will provide more details on the full-year fiscal year 2016 performance and expectations for fiscal year 2017 during its earnings call on November 10, 2016.

Because we are unable to predict certain potentially material items affecting diluted earnings per share on a GAAP basis, principally mark-to-market gains and losses on commodity derivative instruments and Finagaz integration expenses, we cannot reconcile 2017 adjusted diluted earnings per share, a non-GAAP measure, to diluted earnings per share, the most directly comparable GAAP measure, in reliance on the “unreasonable efforts” exception set forth in SEC rules.

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