Filing Flows › UGI (UGI) › Q2 FY26 › vs Q2 FY25
UGI (UGI) Q2 FY26 vs Q2 FY25 (year over year)
UGI's revenue rose $19.0M (+0.7%) from $2.7B in Q2 FY25 to $2.7B in Q2 FY26. The biggest changes: Total Utility +$108M (+15%); Retail −$91.0M (-7%); Energy Marketing +$38.0M (+10%). Operating margin 28.2% against 26.3% (+2.0 pts).
UGI, Q2 FY26: revenue $2.7B (+0.7% year over year), operating margin 28.2%, net earnings $520M, operating cash flow $664M. The chart draws each line against Q2 FY25, the increases inside each band.
Margins
| Q2 FY26 | Q2 FY25 | Change | |
|---|---|---|---|
| Operating margin | 28.2% | 26.3% | +2.0 pts |
| Net margin | 19.4% | 18.0% | +1.4 pts |
| Free cash flow margin | 18.4% | 20.2% | -1.8 pts |
Every line
| Line | Q2 FY26 | Q2 FY25 | Change | % |
|---|---|---|---|---|
| Pipeline | $53.0M | $59.0M | −$6.0M | -10% |
| Other | $9.0M | $6.0M | $3.0M | +50% |
| Wholesale | $62.0M | $65.0M | −$3.0M | -5% |
| Retail | $1.2B | $1.3B | −$91.0M | -7% |
| Total Utility | $824M | $716M | $108M | +15% |
| Energy Marketing | $408M | $370M | $38.0M | +10% |
| Other | $60.0M | $68.0M | −$8.0M | -12% |
| Large delivery service | $59.0M | $64.0M | −$5.0M | -8% |
| Off-system sales and capacity releases | $57.0M | $34.0M | $23.0M | +68% |
| Other | $3.0M | $8.0M | −$5.0M | -62% |
| Revenue | $2.7B | $2.7B | $19.0M | +0.7% |
| Operating profit | $758M | $700M | $58.0M | +8% |
| Costs & expenses | $1.9B | $2.0B | −$39.0M | -2% |
| Pre-tax earnings | $660M | $594M | $66.0M | +11% |
| Other expense, net | $98.0M | $106M | −$8.0M | -8% |
| Cost of revenue | $1.2B | $1.3B | −$114M | -9% |
| SG&A | $559M | $546M | $13.0M | +2% |
| Other operating costs | $181M | $119M | $62.0M | +52% |
| Net earnings | $520M | $479M | $41.0M | +9% |
| Income tax | $140M | $115M | $25.0M | +22% |
| Depreciation & amortization | $138M | $138M | $0 | 0% |
| Working capital & other | $6.0M | $67.0M | −$61.0M | -91% |
| Operating cash flow | $664M | $684M | −$20.0M | -3% |
| Free cash flow (OCF − capex) | $494M | $538M | −$44.0M | -8% |
| Capital expenditures | $170M | $146M | $24.0M | +16% |
Questions
How much did UGI's revenue grow year over year in Q2 FY26?
UGI's revenue rose $19.0M (+0.7%) from $2.7B in Q2 FY25 to $2.7B in Q2 FY26.
What drove UGI's revenue change in Q2 FY26?
Total Utility +$108M (+15%); Retail −$91.0M (-7%); Energy Marketing +$38.0M (+10%).