UGI Profit Misses Estimates

(RTTNews) - Energy products distributor UGI Corp (UGI) on Wednesday reported first-quarter net earnings of $34 million or $0.19 per share compared with $122 million or $0.70 per share last year.

Excluding items, adjusted earnings for the quarter were $0.66 per share compared with $0.71 per share a year ago.

Analysts polled by Thomson Reuters estimated earnings of $0.75 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter were lower at $2 billion compared with $2.3 billion in the prior year.

Results were hurt by lower revenues across AmeriGas Propane, UGI International and Gas Utility businesses, the company said.