2015 Q3 Earnings Conference Call August 4, 2015 August 4, 2015
John Walsh President & CEO, UGI Kirk Oliver Chief Financial Officer, UGI Jerry Sheridan President & CEO, AmeriGas August 4, 2015
2015 Q3 Results Adjusted EPS* 0.12 0.10 0.08 0.04 0.03 0.00 Q3-15 Adjusted EPS Q3-14 Adjusted EPS Q3-15 GAAP EPS was 0.05 Q3-15 Adjusted EPS includes 0.06 loss related to impact of the Totalgaz acquisition Expect FY…
Market Update Demand for natural gas continues to grow Pipeline capacity will remain constrained in medium-term due to infrastructure gap Conversion activity remains strong as Gas Utility has added 14,000 new heating customers YTD…
Kirk Oliver Chief Financial Officer August 4, 2015
2015 Q3 Financial Results Three Months Ended June 30, 2015 2014 Adjusted diluted earnings per share: UGI Corporation earnings per share - diluted 0.05 0.12 Net after-tax (gains) losses on commodity derivative instruments not…
AmeriGas Operating Income, MM 10 MARGIN 8 Warmer weather than the 7.2 prior year Unit margins up 6 MISC INCOME 4 (5.7) Lower finance charges OPEX 2 (0.1) 1.9 (0.2) Lower vehicle fuel 0.8 expenses (2.3) 0 Lower…
UGI International MARGIN Income Before Taxes, MM Warmer weather than prior year 0 at Antargaz 0.4 -2 (1.0) Higher local currency gross (4.5) margin -4 Weaker Euro and British Pound -6 Sterling (2.6) (0.3) -8 (16.9) OPEX -10…
Gas Utility 8 Income Before Taxes, MM MARGIN 7.3 Warmer Weather (1.0) Customer Growth 6 (1.1) 0.3 5.6 OPEX (1.6) 1.7 Higher distribution system maintenance 4 Higher general and administrative expenses Higher depreciation 2…
Midstream & Marketing 30 Income Before Taxes, MM MARGIN Higher natural gas 25.6 3.0 and retail power 25 (7.7) margin Lower capacity 20 (2.1) 0.2 (0.9) management margin 18.1 due to lower volatility 15 OPEX Higher compensation…
Liquidity and Guidance MM UGI Midstream Corporate & Total AmeriGas International Utilities & Marketing Other Cash on Hand 385.9 16.2 275.8 16.5 16.3 61.1 Revolving Credit Facilities 525.0 68.6 300.0 240.0 NA Accounts Receivable…
Jerry Sheridan CEO of AmeriGas August 4, 2015
Q3 Adjusted EBITDA Adjusted EBITDA*, Millions 60 40 55 49 20 0 Q3 2015 Q3 2014 * See appendix for Adjusted EBITDA reconciliation August 4, 2015 15
Operational Highlights Weather was 18% warmer than normal and 10% warmer than the prior year while retail volume was 6% lower than the prior year Cylinder exchange volume declined 2% as the quarter was the second wettest on…
Operational Highlights Unit margin expanded 0.04 as propane prices were 56% lower than the prior year Operating expenses 1% lower than last year as vehicle fuel was 30% less expensive YTD completed 7 acquisitions FY15 guidance…
John Walsh President & CEO August 4, 2015
Operational Highlights Totalgaz Acquisition Closed on May 29, 2015 Business focused on integration LNG Peaking Activities Dramatic increase in peak demand Transport, Marine, and Distributed Generation are new demand segments…
In Conclusion Strong YTD performance demonstrates value of balanced portfolio Focused on delivering outstanding customer service and operational efficiency Significant progress on organic investments and M&A Continued…
Q&A August 4, 2015
Appendix August 4, 2015
Growth Summary Expected In- Capital Service Date Pipeline Projects Cost (Calendar Year) Description PennEast 200mm1 Nov 2017 117 miles; 1 bcf/day Sunbury 160mm Early 2017 35 miles; 200,000 Dth/day Auburn Loop 80mm Fall 2015 9…
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 Net Income and EPS Three Months Ended N June 30, 2015 2014 Adjusted net income attributable to UGI Corporation: Net income attributable to UGI Corporation 9.6 20.6 Net after-tax (gains) losses on commodity derivative…
AmeriGas Partners EBITDA Reconciliation Three Months Ended June 30, 2015 2014 EBITDA and Adjusted EBITDA: Net (loss) income attributable to AmeriGas Partners, L.P. (25,578) (37,761) Income tax expense 802 847 Interest expense…
AmeriGas Partners Adj. EBITDA Guidance Reconciliation Forecast Fiscal Year Ending September 30, 2015 Adjusted net income attributable to AmeriGas Partners, L.P. (estimate) (d) 280,000 Interest expense (estimate) 163,000 Income…
Investor Relations: Will Ruthrauff 610-456-6571 ruthrauffwugicorp.com August 4, 2015
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