UGI News & Events

UGI Corporation announced that its subsidiaries, AmeriGas Partners and AmeriGas Finance Corp, intend to offer, subject to market and other conditions, $500,000,000 in aggregate principal amount of senior notes due 2031 in an offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended, and outside the United States in compliance with Regulation S under the Securities Act. The Issuers intend to use the net proceeds from the offering, together with $300,000,000 in cash previously received by AmeriGas Partners in connection with an equity contribution by its parent, originally funded by UGI International, LLC, a wholly owned indirect subsidiary of UGI Corporation, and cash on hand, to repurchase any and all of the Issuers' 5.750% Senior Notes due 2027 and redeem any such 2027 Notes remaining thereafter, repurchase up to $175,000,000 aggregate principal amount of the Issuers' 9.375% Senior Notes due 2028, repay $150,000,000 in outstanding indebtedness under the intercompany loan between AmeriGas Partners and UGI International, LLC and pay related fees and expenses.

UGI Corporation announced that its subsidiaries, AmeriGas Partners and AmeriGas Finance have commenced offers to purchase for cash any and all of the Offerors' outstanding 5.750% Senior Notes due 2027upon the terms and subject to the conditions set forth in the Offer to Purchase related to the 2027 Notes, dated May 11, 2026, and the related Letter of Transmittal and Notice of Guaranteed Delivery, and up to $175,000,000 of the Offerors' outstanding 9.375% Senior Notes due 2028 upon the terms and subject to the conditions set forth in the Offer to Purchase related to the 2028 Notes, dated May 11, 2026. 2027 Notes validly tendered and not validly withdrawn at or prior to 5:00 p.m., New York City time, on May 15, 2026 will be eligible to receive a purchase price of $1,011.18 per $1,000 principal amount of 2027 Notes tendered. 2028 Notes validly tendered and not validly withdrawn at or prior to 5:00 p.m., New York City time, on May 22, 2026 will be eligible to receive a purchase price of $1,023.44 per $1,000 principal amount of the 2028 Notes tendered. 2028 Notes validly tendered and not validly withdrawn after the 2028 Notes Tender Offer Early Tender Deadline but at or prior to 5:00 p.m., New York City time, on June 9, 2026 will be eligible to receive a purchase price of $993.44 per $1,000 principal amount of the 2028 Notes tendered.

Reports Q1 revenue $2.69B, one estimate $3.08B. "Our year-to-date results reflect the continued execution of our strategic priorities, with reportable segment EBIT ahead of the prior year," said Bob Flexon, President and Chief Executive Officer. "Our natural gas businesses delivered a solid performance, supported by higher gas base rates at our Utilities where we have also returned approximately $25 million to customers through our Pennsylvania weather normalization rider. UGI International continued to generate strong free cash flow while navigating a dynamic operating environment. At AmeriGas, we made tangible progress on our operational turnaround, including on-shoring our call center and driving year-over-year improvement in safety, customer satisfaction, routing and logistics efficiencies, as we better position the business for the upcoming heating season. We were also pleased to end the quarter with consolidated leverage below our targeted range for Fiscal 2026. Looking beyond the quarter, I am increasingly confident in our ability to create long-term value. Although near-term Fiscal 2026 earnings expectations have softened due to timing of growth investments in Midstream & Marketing and steady progression of the AmeriGas transformation, we remain firmly committed to our long-term trajectory and growth targets. We are optimally situated to serve the growing demand for safe, reliable and affordable energy solutions across our service territories, reinforced by our recent strategic partnerships. At the same time, the transformation underway at AmeriGas, disciplined capital allocation approach and continued improvement in leverage and liquidity are strengthening our foundation. Together, these advantages position UGI to deliver sustainable returns for our shareholders over the long-term."