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UGI (UGI) earnings and revenue breakdown

Latest: Q3 FY26 · 10-Q filed Aug 6, 2026 · UGI (UGI) Q3 FY26 earnings results →

Q3 FY26 Revenue down 4% year over year to $1.3B · 10¢ of every $1 of revenue lost · operating margin -3.3%

UGI made $1.3B in Q3 FY26 (-4% Y/Y): Total Non-Utility $1.0B, Energy Marketing $171M, Commercial & Industrial $65.0M. Operating margin -3.3%, net loss $133M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 6, 2026.

Revenue$1.3B
Year over year-4%
Operating margin-3.3%
Net earnings−$133M
Operating cash flow$242M

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UGI Q3 FY26 revenue breakdown: Sankey diagram of revenue (Total Non-Utility, Energy Marketing, Commercial & Industrial, Other), costs, profit and cash flow
UGI Q3 FY26 revenue breakdown — free to use with credit and a link (terms). Share on X
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What changed this quarter

Revenue was $1.3B in Q3 FY26, down 5% year over year and down 50% from the previous quarter. Retail was the largest line at 51% of revenue. Retail lost $0.04B year over year (down 6%), 71% of the total change.

Operating costs exceeded revenue by $0.04B, an operating margin of -3.3%. Total costs fell 8% while revenue fell 5%. The quarter ended with a net loss of $0.13B, after a profit of $0.52B the previous quarter. Net interest and other expense of $0.12B was the main reason.

Operating cash flow was $0.24B (down 16% year over year). Non-cash charges added back $0.14B of depreciation and amortization. Working capital and other items added $0.24B. Capital expenditures of $0.23B left free cash flow of $0.02B.

Quarterly history

UGI revenue by quarterUGI revenue by quarter$1.2BQ4 FY24$2.7BQ2 FY25$1.4BQ3 FY25$1.2BQ4 FY25$2.1BQ1 FY26$2.7BQ2 FY26$1.3BQ3 FY26
UGI net earnings by quarterUGI net earnings by quarter−$273MQ4 FY24$479MQ2 FY25−$163MQ3 FY25−$13.0MQ4 FY25$297MQ1 FY26$520MQ2 FY26−$133MQ3 FY26
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 FY2610-QAug 6, 2026$1.3B-4%-3.3%−$133M$242M
Q2 FY2610-QMay 7, 2026$2.7B+0.7%28.2%$520M$664M
Q1 FY2610-QFeb 5, 2026$2.1B+3%21.8%$297M$66.0M
Q4 FY2510-KNov 21, 2025$1.2B-4%1.1%−$13.0M$90.0M
Q3 FY2510-QAug 7, 2025$1.4B+1%-6.7%−$163M$289M
Q2 FY2510-QMay 8, 2025$2.7B+8%26.3%$479M$684M
Q4 FY2410-KNov 26, 2024$1.2B-12%-19.8%−$273M$151M

Charts

UGI: revenue growth, year over year and quarter over quarterUGI: revenue growth, year over year and quarter over quarterY/YQ/Q-12%Q4 FY24+8%+115%Q2 FY25+1%-48%Q3 FY25-4%-14%Q4 FY25+3%+74%Q1 FY26+1%+29%Q2 FY26-4%-50%Q3 FY26
Latest (Q3 FY26): Y/Y -4%, Q/Q -50%.
UGI: where the cash came from (+) and went (−), TTM to Q3 FY26UGI: where the cash came from (+) and went (−), TTM to Q3 FY26Operating cash flow$1.1BCapital spending−$875MDividends−$322MAsset & business sales$215MCash drawn (+) / kept (−)−$153MNet borrowing (+) / repaid (−)$116MBuybacks−$39.0MShares issued$18.0MExchange rates−$13.0MOther investing−$9.0M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
UGI: profit against cash, quarter by quarterUGI: profit against cash, quarter by quarterNet incomeOperating cash flow−$273M$151MQ4 FY24$375M$164MQ1 FY25$479M$684MQ2 FY25−$163M$289MQ3 FY25−$13.0M$90.0MQ4 FY25$297M$66.0MQ1 FY26$520M$664MQ2 FY26−$133M$242MQ3 FY26
Latest (Q3 FY26): Net income −$133M, Operating cash flow $242M.
UGI: diluted shares by fiscal yearUGI: diluted shares by fiscal year210MFY20212MFY21216MFY22210MFY23215MFY24219MFY25
+4.4% since FY20: more shares outstanding (issuance, stock pay).
UGI: long-term debt falling due (FY25)UGI: long-term debt falling due (FY25)$117M2026$592M2027$2.0B2028$273M2029$1.8B2030
Cash $335M, short-term investments —, long-term debt $6.6B at 2025-09-30.
UGI in its industry: growth against margin (5 companies, SIC 4932)UGI in its industry: growth against margin (5 companies, SIC 4932)revenue growth, year over year →↑ operating marginmedian +4%median 0%SRECLNEOPALMNTKUGI (-4%, -3%)
Gas & Other Services Combined; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

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💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About UGI

UGI Corporation (NYSE: UGI) is a distributor and marketer of energy products and services in the US and Europe. UGI offers safe, reliable, affordable, and sustainable energy solutions to customers through its subsidiaries, which provide natural gas transmission and distribution, electric generation and distribution, midstream services, propane distribution, renewable natural gas generation, distribution and marketing, and energy marketing services. Comprehensive information about UGI Corporation is available on the Internet at https://www.ugicorp.com .

In its own words, from its 8-K, filed Aug 6, 2026.

UGI against its Gas & Other Services Combined peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -4% against the peers' median +4%. Operating margin: -3.3% against the peers' median -0.1%.

CompanyQuarterRevenueY/YOp. margin
UGI UGIQ3 FY26$1.3B-4%-3.3%
SRE SempraQ3 2026$3.2B+1%35.3%
CLNE Clean Energy FuelsQ3 2026$112M+6%0.9%
OPAL Opal FuelsQ2 2026$83.4M+4%-3.6%
MNTK Montauk RenewablesQ2 2026$54.0M+20%-0.1%

Source: UGI 10-Q on SEC EDGAR · CIK 884614 · Gas & Other Services Combined

13F: who owns UGI and who is buying

Largest holders of UGI (13F)Largest holders of UGI (13F)BlackRock$914MVanguard Group$849MFMR LLC$483MVanguard Portfolio Management LLC$436MVanguard Capital Management LLC$333MNeuberger Berman Group LLC$283MState Street$240MFuller & Thaler Asset Management$203MSnyder Capital Management L P$185MGeode Capital Management, LLC$157M
Funds' net buying of UGI by quarter (13F)Funds' net buying of UGI by quarter (13F)−$117M2024-09$188M2024-12−$71.5M2025-03$62.1M2025-06$21.5M2025-09$238M2025-12−$348M2026-03$186M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on UGI

History

Every quarter: Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results · Q3 FY25 results · Q2 FY25 results · Q4 FY24 results

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中文版：UGI（UGI）财报

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