DivestmentMay 7, 2026, 02:36 PM
UGI to Divest Electric Utility for $470M; Q2 Net Income $520M
AI Summary
UGI Corporation reported its financial results for the three and six months ended March 31, 2026, showing an increase in net income and revenues for the quarter. Concurrently, the company announced a definitive agreement to divest its Electric Utility for $470 million, a transaction expected to close in the second quarter of Fiscal 2027. This divestment is part of UGI's ongoing global LPG business portfolio optimization efforts, which have also included the sale of certain LPG businesses in Europe in June and November 2025, and February 2026.
Key Highlights
- UGI Utilities to divest its Electric Utility for $470 million, with closing expected in Q2 Fiscal 2027.
- Net income attributable to UGI Corporation for Q2 2026 was $520 million, up from $479 million in Q2 2025.
- Diluted EPS for Q2 2026 was $2.33, compared to $2.19 in Q2 2025.
- Total revenues for Q2 2026 reached $2,685 million, an increase from $2,666 million in Q2 2025.
- Net cash provided by operating activities for H1 2026 was $730 million, down from $848 million in H1 2025.
- Current maturities of long-term debt increased significantly to $807 million as of March 31, 2026, from $117 million.
- UGI International completed sales of LPG businesses in June and November 2025, and February 2026.
- Total assets increased to $16,119 million as of March 31, 2026, from $15,462 million at September 30, 2025.