Skip to main content 2014 Q1 EARNINGS CONFERENCE CALL – UGI Corp. Investor Presentation | Shale Experts
Loading...
Pm

2014 Q1 EARNINGS CONFERENCE CALL – UGI Corp.

UGI Corp. · Feb 4, 2014 · 26 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. 2014 Q1 EARNINGS CONFERENCE CALL – UGI Corp. – slide 1
    2014 Q1 Earnings Conference Call February 4, 2014 February 4, 2014
  2. 2014 Q1 EARNINGS CONFERENCE CALL – UGI Corp. – slide 2
    John Walsh President & CEO, UGI Kirk Oliver Chief Financial Officer, UGI Jerry Sheridan President & CEO, AmeriGas February 4, 2014
  3. 2014 Q1 EARNINGS CONFERENCE CALL – UGI Corp. – slide 3
    2014 Q1 Results GAAP EPS 1.10 1.05 17% increase in EPS, fully diluted 1.00 0.95 1.05 0.90 0.85 0.90 0.80 2013 February 4, 2014 2014 4
  4. 2014 Q1 EARNINGS CONFERENCE CALL – UGI Corp. – slide 4
    2014 Q1 Results Adjusted EPS* 1.10 1.05 21% increase 1.00 in Adjusted EPS 0.95 0.90 1.06 0.85 0.80 0.88 0.75 0.70 2013 * See reconciliation in appendix February 4, 2014 2014 5
  5. 2014 Q1 EARNINGS CONFERENCE CALL – UGI Corp. – slide 5
    Operating Performance & Strategic Milestones Adjusted net income up 22% reflects colder weather and strong operational performance Strategic Milestones Auburn II pipeline placed into service Gas Utility new customer additions…
  6. 2014 Q1 EARNINGS CONFERENCE CALL – UGI Corp. – slide 6
    2014 Q1 Results Adjusted EPS* 1.10 1.05 21% increase 1.00 in Adjusted EPS 0.95 0.90 1.06 0.85 0.80 0.88 0.75 0.70 2013 * See reconciliation in appendix February 4, 2014 2014 7
  7. 2014 Q1 EARNINGS CONFERENCE CALL – UGI Corp. – slide 7
    Weather vs Normal 20% 10% COLDER 3.8% 3.0% 0% (WARMER) -3.2% -3.6% -10% -7.2% -7.7% -9.0% -12.9% (WARMER) -20% 2014 Q1 2013 Q1 AmeriGas Antargaz Flaga Utility February 4, 2014 8
  8. 2014 Q1 EARNINGS CONFERENCE CALL – UGI Corp. – slide 8
    AmeriGas 200 Operating Income, MM VOLUME 18.4 4.1 179.7 Colder weather 180 (2.6) (2.2) ACE and National Accounts 24.7 160 MARGIN Slightly higher unit margins 140 137.3 OPEX 120 No transition expenses versus prior-year period 100…
  9. 2014 Q1 EARNINGS CONFERENCE CALL – UGI Corp. – slide 9
    UGI International Income Before Taxes, MM 70 VOLUME 12.2 2.1 BP Poland acquisition 60 Warmer weather 50.0 0.1 49.2 50 MARGIN (13.2) (2.0) BP Poland acquisition 40 OPEX 30 Flaga (BP Poland) and Antargaz (repair and 20…
  10. 2014 Q1 EARNINGS CONFERENCE CALL – UGI Corp. – slide 10
    Gas Utility Income Before Taxes, MM 80 MARGIN 1.7 1.2 73.7 Colder weather 8.0 3.4 70 (0.8) Conversions from heating oil 60.2 60 OPEX Lower pension and benefits 50 expense 40 INTEREST 30 Lower average interest rates 20…
  11. 2014 Q1 EARNINGS CONFERENCE CALL – UGI Corp. – slide 11
    Midstream & Marketing Income Before Taxes, MM 40 MARGIN 10.3 0.0 35.2 35 (0.8) (1.1) Higher peaking, capacity management, and gas 30 4.8 marketing margin 24.9 25 Higher electric generation 20 (2.9) margin Lower power…
  12. 2014 Q1 EARNINGS CONFERENCE CALL – UGI Corp. – slide 12
    Liquidity and Guidance Corporate Total AmeriGas UGI Intl Utilities Midstream & Other Cash on Hand 418.1 30.3 173.3 13.0 9.0 192.6 Revolving Credit Facilities 525.0 134.7 300.0 240.0 NA Accounts Receivable Facility NA NA NA 60.9 NA…
  13. 2014 Q1 EARNINGS CONFERENCE CALL – UGI Corp. – slide 13
    Jerry Sheridan CEO of AmeriGas February 4, 2014
  14. 2014 Q1 EARNINGS CONFERENCE CALL – UGI Corp. – slide 14
    Q1 Adjusted EBITDA Adjusted EBITDA*, Millions 240 230 220 210 200 230.2 190 180 193.3 170 2013 Q1 * See appendix for Adjusted EBITDA reconciliation February 4, 2014 2014 Q1 15
  15. 2014 Q1 EARNINGS CONFERENCE CALL – UGI Corp. – slide 15
    Operational Update Operations Volume increased 7% versus last years first quarter on weather that was 14% colder than last year Volume in December was up 19% from last year on 22% colder weather Operating expenses were 5.9 million…
  16. 2014 Q1 EARNINGS CONFERENCE CALL – UGI Corp. – slide 16
    Operational Update Growth Initiatives AmeriGas Cylinder Exchange (ACE): Volume growth of 9.8% from the prior-year quarter, 2,900 new outlets added National Accounts: Volume increased 6 million gallons from the prior- year quarter and…
  17. 2014 Q1 EARNINGS CONFERENCE CALL – UGI Corp. – slide 17
    John Walsh President & CEO February 4, 2014
  18. 2014 Q1 EARNINGS CONFERENCE CALL – UGI Corp. – slide 18
    Operational Update AmeriGas Adjusted EBITDA up 19% on volume growth, unit margin management, and expense control Strong performance at both ACE and National Accounts as well UGI International Warmer weather than expected, offset by…
  19. 2014 Q1 EARNINGS CONFERENCE CALL – UGI Corp. – slide 19
    Operational Update Midstream & Marketing Strong performance from LNG business (both peaking and transport) as well as our midstream business Auburn II placed into commercial service Recent Developments Meeting service challenges is…
  20. 2014 Q1 EARNINGS CONFERENCE CALL – UGI Corp. – slide 20
    Q&A February 4, 2014
  21. 2014 Q1 EARNINGS CONFERENCE CALL – UGI Corp. – slide 21
    Appendix February 4, 2014
  22. 2014 Q1 EARNINGS CONFERENCE CALL – UGI Corp. – slide 22
    UGI Supplemental Information: Footnotes Management uses adjusted net income attributable to UGI and adjusted diluted earnings per share, both of which are non-GAAP financial measures, when evaluating UGI's overall performance. Adjusted…
  23. 2014 Q1 EARNINGS CONFERENCE CALL – UGI Corp. – slide 23
    Adjusted EPS to GAAP EPS Reconciliation Three Months Ended Twelve Months Ended December 31, December 31, 2013 2012 2013 2012 Adjusted diluted earnings per share: UGI Corporation earnings per share - diluted 1.05 0.90 2.56 2.09…
  24. 2014 Q1 EARNINGS CONFERENCE CALL – UGI Corp. – slide 24
    AmeriGas Supplemental Information: Footnotes The enclosed supplemental information contains a reconciliation of earnings before interest expense, income taxes, depreciation and amortization (EBITDA) and Adjusted EBITDA to Net Income.…
  25. 2014 Q1 EARNINGS CONFERENCE CALL – UGI Corp. – slide 25
    AmeriGas Partners EBITDA Reconciliation Three Months Ended December 31, 2013 2012 Net income attributable to AmeriGas Partners, L.P. 134,898 96,665 Income tax expense 1,431 627 Interest expense 41,590 41,196 Depreciation 41,503…
  26. 2014 Q1 EARNINGS CONFERENCE CALL – UGI Corp. – slide 26
    Investor Relations: 610-337-1000 Simon Bowman (x3645) bowmansugicorp.com February 4, 2014

From the store

Browse maps, data & reports in the Shale Experts store