UGI Q3 Profit Rises

(RTTNews) - UGI Corp. (UGI) Tuesday reported third-quarter net income of $20.6 million or $0.18 per share, compared to $9.1 million or $0.08 per share last year.

Adjusted net income was $17.1 million or $0.15 per share, compared to $12.4 million or $0.11 per share last year.

Revenues increased to $613.2 million from $581.7 million last year.

Analysts polled by Thomson Reuters expected the company to report a earnings of $0.17 per share on revenues of $1.47 billion for the quarter. Analysts' estimates typically exclude special items.

Moving ahead, the company maintained its full year 2014 adjusted earnings of $2.95 to $3.05 per share. Analyts currently estimate earnings of $2.94 per share for the year.

Separately, Board of UGI approved a plan to issue three common shares for every two common shares outstanding. The new shares are distributable September 5, 2014 to shareholders of record as of August 22, 2014.

UGI also approved quarterly dividend of about $0.3263 per share on a pre-split basis, or $0.2175 per share after the split, is payable October 1, 2014 to shareholders of record on September 15, 2014.