UGI Corp. Does Not Expect Selling French Energy Marketing Business In Q1; Backs FY23 Outlook

UGI Corp. (UGI) announced Friday that it no longer expects to sell its French energy marketing business in the first quarter of fiscal 2023, as extended negotiations with the potential buyer have been discontinued.

The company said the delay in exiting this business will not have an impact on our previously announced fiscal 2023 adjusted earnings per share guidance in the range of $2.85 to $3.15, which includes $0.10 to $0.12 loss from the non-core European energy marketing business.

On average, four analysts polled by Thomson Reuters expect the company to report earnings of $2.84 per share for the year. Analysts' estimates typically exclude one-time items.

The company also reinforced its long-term financial commitments of 6 to 10 percent earnings per share growth and 4 percent dividend growth.

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