UGI Corporation (NYSE: UGI) director Frank Hermance bought 35,000 shares of UGI common stock on August 10 for $30.36 per share, according to a SEC filing.
Hermance’s purchase comes a few days after UGI reported its third-quarter financial results.
UGI, which is engaged in the distribution and marketing of energy products and related services, reported a net loss of $6.3 million for the third quarter ended June 30, 2012, compared to a net loss of $7.2 million, or $0.06 per share reported for the same period in the previous year.
UGI’s AmeriGas Propane segment reported third-quarter revenue of $571.9 million, compared to $470.8 million reported for the same period in the previous year. The segment’s operating loss for the quarter was $48.4 million, compared to operating income of $6.7 million reported for the same period in the previous year.
The company’s International Propane segment reported third-quarter revenue of $405.2 million, compared to $263.3 million reported for the same period in the previous year. The segment reported operating income of $1.2 million in the quarter, compared to an operating loss of $15 million reported for the same period in the previous year.
UGI’s Gas Utility segment reported revenue of $122.3 million, compared to $148.1 million reported for the same period in the previous year. The company’s Midstream & Marketing revenue for the quarter was $166.7 million, compared to $217.1 million reported for the same period in the previous year.
Lon R. Greenberg, Chairman and CEO of UGI, said that despite whether this spring, which was significantly warmer than normal, the company’s earnings for the quarter, when adjusted to exclude the $0.03 per share acquisition and transaction expenses, were significantly better than last year’s quarter.
Greenberg said that UGI continues to expect to report diluted earnings per share of between $1.65 per share and $1.75 per share for the full fiscal year.
UGI shares are up 2.73% to $31.18 in trading today. The stock touched an intra-day high of $31.22 in trading today.
Year-to-date, UGI shares gained 6.16%, compared to a gain of 11.82% for the S&P 500.
Recent Comments