UGI on NYSE

UGI Corporation

Logo: UGI Corporation, Public domain, via Wikimedia Commons⁵

American natural gas and electric power distribution company

UGI Corporation (formerly United Gas Improvement Corp.) is a natural gas and electric power distribution company headquartered in King of Prussia, Pennsylvania, with extensive operations in the United States and Europe. UGI owns AmeriGas, the largest propane marketer in the United States. UGI also owns AvantiGas, Antargaz and Flaga in Europe.³ Its chief executive is John L. Walsh Jr.¹ Wikipedia text CC BY-SA 4.0

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Last updated Oct 21, 2026.

Overview

$7.1BRevenue, fiscal 2025⁶

$678.0MNet income, fiscal 2025⁶

1882Founded¹

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TickerUGI on NYSE¹
Industryenergy industry¹
HeadquartersKing of Prussia¹
Websitewww.ugicorp.com
Incorporated inPA⁷
Business address500 N Gulph Rd, P O Box 858, King Of Prussia, Pa 19406⁷
Filer categoryLarge accelerated filer⁷
Legal formBusiness Corporation⁴
LEIDX6GCWD4Q1JO9CRE5I40⁴
StatusActive⁴
LEI statusIssued and current⁴
Registered addressC/O CT Corporation System, 17101 Harrisburg, United States⁴
Registered withPennsylvania Department of State, 2069197⁴

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

15.5%Operating margin⁶

9.5%Net margin⁶

1.4%Revenue growth, 2025⁶

14.2%Return on equity⁶

1.37×Debt to equity⁶

$390.0MFree cash flow⁶

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Utility brought in 33% of the revenue UGI Corporation broke down this way in fiscal 2025.

Utility$1.7B⁶33%up 10% from 2024
Energy Marketing$998.0M⁶20%up 2% from 2024
Residential$970.0M⁶19%up 11% from 2024
Commercial and Industrial$385.0M⁶8%up 12% from 2024
Non-utility, Other$251.0M⁶5%down 3% from 2024
Wholesale$231.0M⁶5%down 14% from 2024
Pipeline$225.0M⁶4%down 9% from 2024
Large Delivery Service$196.0M⁶4%up 7% from 2024
Off System Sales and Capacity Releases$74.0M⁶1%up 10% from 2024
Utility, Other$31.0M⁶1%down 14% from 2024
Peaking$27.0M⁶1%up 170% from 2024
Midstream Other$21.0M⁶0%up 31% from 2024

Products and services by year

Products and services	2023	2024	2025
Utility	$1.7B	$1.5B	$1.7B
Energy Marketing	$2.1B	$980.0M	$998.0M
Residential	$1.0B	$873.0M	$970.0M
Commercial and Industrial	$413.0M	$344.0M	$385.0M
Non-utility, Other	$274.0M	$260.0M	$251.0M
Wholesale	$325.0M	$270.0M	$231.0M
Pipeline	$251.0M	$246.0M	$225.0M
Large Delivery Service	$177.0M	$183.0M	$196.0M
Off System Sales and Capacity Releases	$89.0M	$67.0M	$74.0M
Utility, Other	$43.0M	$36.0M	$31.0M
Peaking	$31.0M	$10.0M	$27.0M
Midstream Other	$14.0M	$16.0M	$21.0M

Business segments

AmeriGas Propane brought in 29% of the revenue UGI Corporation broke down this way in fiscal 2025.

AmeriGas Propane$2.2B⁶29%up 0% from 2024
UGI International$2.1B⁶28%down 7% from 2024
UGI Utilities, Inc.$1.7B⁶23%up 12% from 2024
Midstream and Marketing$1.5B⁶20%up 8% from 2024

Business segments by year

Business segments	2023	2024	2025
AmeriGas Propane	$2.5B	$2.2B	$2.2B
UGI International	$2.9B	$2.2B	$2.1B
UGI Utilities, Inc.	$1.8B	$1.6B	$1.7B
Midstream and Marketing	$1.8B	$1.4B	$1.5B

Where the money goes

Where each dollar of revenue went, fiscal 2025

Selling, general and adminOther costs

Selling, general and admin28¢$2.0B
Other costs62¢$4.4B
Income tax0¢$18.0M
Profit9¢$678.0M

Out of $7.1B in revenue.⁶

Where each dollar of operating cash went, fiscal 2025

Capital spendingDividends paid

Capital spending68¢$837.0M
Dividends paid26¢$322.0M
Share buybacks3¢$33.0M
Kept or used elsewhere3¢$35.0M

Out of $1.2B of cash from operations.⁶

Financial statements

Revenue¹¹¹²¹³¹⁴¹⁵⁶$7.1B in 2025−7% since 2018

Operating income¹¹¹²¹³¹⁴¹⁵⁶$1.1B in 2025+4% since 2018

Net income¹¹¹²¹³¹⁴¹⁵⁶$678.0M in 2025−6% since 2018

Every line of the income statement as filed: the last 3 fiscal years, latest first.⁶

Period ending	2025-09-30	2024-09-30	2023-09-30
Revenues	$7.3B	$7.2B	$8.9B
Cost of sales	$3.7B	$3.5B	$6.9B
Operating and administrative expenses	$2.0B	$2.1B	$2.2B
Depreciation and amortization	$561.0M	$551.0M	$532.0M
Impairment of goodwill	$0	$195.0M	$656.0M
(Gain) loss on disposals of businesses	$36.0M	$95.0M	$221.0M
Other operating expense (income), net	-$82.0M	-$62.0M	-$132.0M
Total costs and expenses	$6.2B	$6.4B	$10.4B
Operating income (loss)	$1.1B	$770.0M	-$1.4B
Income (loss) from equity investees	$5.0M	-$19.0M	$2.0M
Loss on extinguishments of debt	-$10.0M	-$9.0M	-$9.0M
Other non-operating income (expense), net	$5.0M	-$8.0M	-$7.0M
Interest expense	-$411.0M	-$394.0M	-$379.0M
Income (loss) before income taxes	$696.0M	$340.0M	-$1.8B
Income tax benefit (expense)	-$18.0M	-$71.0M	$335.0M
Net income (loss) attributable to UGI Corporation	$678.0M	$269.0M	-$1.5B
Basic (in dollars per share)	$3.15	$1.27	-$7.16
Diluted (in dollars per share)	$3.09	$1.25	-$7.16
Basic (in shares)	214.9M shares	211.3M shares	209.8M shares
Diluted (in shares)	219.2M shares	215.3M shares	209.8M shares

Total assets¹¹¹²¹³¹⁴¹⁵⁶$15.5B in 2025+29% since 2018

Total liabilities¹⁹¹¹¹²¹³¹⁴¹⁵⁶$10.7B in 2025+35% since 2018

Shareholders’ equity¹⁹¹¹¹²¹³¹⁴¹⁵⁶$4.8B in 2025+30% since 2018

Cash¹¹¹²¹³¹⁴¹⁵⁶$335.0M in 2025−26% since 2018

Long-term debt¹⁹¹¹¹²¹³¹⁴¹⁵⁶$6.5B in 2025+58% since 2018

Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.⁶

Period ending	2025-09-30	2024-09-30	2023-09-30	2022-09-30
Cash and cash equivalents	$335.0M	$213.0M	$241.0M
Restricted cash	$20.0M	$15.0M	$99.0M
Accounts receivable (less allowances for doubtful accounts of $42 and $68, respectively)	$714.0M	$709.0M
Accrued utility revenues	$35.0M	$36.0M
Income taxes receivable	$41.0M	$56.0M
Inventories	$385.0M	$411.0M
Derivative instruments	$23.0M	$29.0M
Prepaid expenses	$102.0M	$113.0M
Other current assets	$111.0M	$69.0M
Total current assets	$1.8B	$1.7B
Non-utility	$7.3B	$7.2B
Utility	$7.0B	$6.5B
Total property, plant and equipment	$14.3B	$13.7B
Accumulated depreciation	-$5.3B	-$4.9B
Net property, plant, and equipment	$9.1B	$8.8B
Goodwill	$2.9B	$2.9B	$3.0B
Intangible assets, net	$328.0M	$391.0M
Other assets	$1.4B	$1.4B
Total assets	$15.5B	$15.1B	$15.4B
Current maturities of long-term debt	$117.0M	$235.0M
Short-term borrowings	$486.0M	$465.0M
Accounts payable	$511.0M	$544.0M
Employee compensation and benefits accrued	$203.0M	$196.0M
Deposits and advances	$188.0M	$199.0M
Derivative instruments	$57.0M	$28.0M
Other current liabilities	$419.0M	$393.0M
Total current liabilities	$2.0B	$2.1B
Long-term debt	$6.5B	$6.4B
Deferred income taxes	$973.0M	$1.0B
Derivative instruments	$23.0M	$31.0M
Other noncurrent liabilities	$1.2B	$1.2B
Total liabilities	$10.7B	$10.7B
Preferred Stock, without par value (authorized 5,000,000 shares; issued 0 and 0 Series A shares, respectively)	$0	$0
Common Stock, without par value (authorized 450,000,000 shares; issued 217,033,282 and 216,124,332 shares, respectively)	$1.7B	$1.7B
Retained earnings	$3.3B	$3.0B
Accumulated other comprehensive loss	-$173.0M	-$253.0M
Treasury stock, at cost	-$93.0M	-$56.0M
Total UGI Corporation stockholders equity	$4.8B	$4.3B
Noncontrolling interests	$9.0M	$9.0M
Total equity	$4.8B	$4.4B	$4.4B
Total liabilities and equity	$15.5B	$15.1B
Allowance for doubtful accounts	$42.0M	$68.0M
Preferred stock, shares authorized (in shares)	5.0M shares	5.0M shares
Preferred stock, shares issued (in shares)	0 shares	0 shares	220.0K shares	220.0K shares
Common stock, shares authorized (in shares)	450.0M shares	450.0M shares
Common stock, shares issued (in shares)	217.0M shares	216.1M shares

Period ending	2025-09-30	2024-09-30	2023-09-30	2022-09-30
Cash and cash equivalents	$335.0M	$213.0M	$241.0M
Restricted cash	$20.0M	$15.0M	$99.0M
Accounts receivable (less allowances for doubtful accounts of $42 and $68, respectively)	$714.0M	$709.0M
Accrued utility revenues	$35.0M	$36.0M
Income taxes receivable	$41.0M	$56.0M
Inventories	$385.0M	$411.0M
Derivative instruments	$23.0M	$29.0M
Prepaid expenses	$102.0M	$113.0M
Other current assets	$111.0M	$69.0M
Total current assets	$1.8B	$1.7B
Non-utility	$7.3B	$7.2B
Utility	$7.0B	$6.5B
Total property, plant and equipment	$14.3B	$13.7B
Accumulated depreciation	-$5.3B	-$4.9B
Net property, plant, and equipment	$9.1B	$8.8B
Goodwill	$2.9B	$2.9B	$3.0B
Intangible assets, net	$328.0M	$391.0M
Other assets	$1.4B	$1.4B
Total assets	$15.5B	$15.1B	$15.4B
Current maturities of long-term debt	$117.0M	$235.0M
Short-term borrowings	$486.0M	$465.0M
Accounts payable	$511.0M	$544.0M
Employee compensation and benefits accrued	$203.0M	$196.0M
Deposits and advances	$188.0M	$199.0M
Derivative instruments	$57.0M	$28.0M
Other current liabilities	$419.0M	$393.0M
Total current liabilities	$2.0B	$2.1B
Long-term debt	$6.5B	$6.4B
Deferred income taxes	$973.0M	$1.0B
Derivative instruments	$23.0M	$31.0M
Other noncurrent liabilities	$1.2B	$1.2B
Total liabilities	$10.7B	$10.7B
Preferred Stock, without par value (authorized 5,000,000 shares; issued 0 and 0 Series A shares, respectively)	$0	$0
Common Stock, without par value (authorized 450,000,000 shares; issued 217,033,282 and 216,124,332 shares, respectively)	$1.7B	$1.7B
Retained earnings	$3.3B	$3.0B
Accumulated other comprehensive loss	-$173.0M	-$253.0M
Treasury stock, at cost	-$93.0M	-$56.0M
Total UGI Corporation stockholders equity	$4.8B	$4.3B
Noncontrolling interests	$9.0M	$9.0M
Total equity	$4.8B	$4.4B	$4.4B
Total liabilities and equity	$15.5B	$15.1B
Allowance for doubtful accounts	$42.0M	$68.0M
Preferred stock, shares authorized (in shares)	5.0M shares	5.0M shares
Preferred stock, shares issued (in shares)	0 shares	0 shares	220.0K shares	220.0K shares
Common stock, shares authorized (in shares)	450.0M shares	450.0M shares
Common stock, shares issued (in shares)	217.0M shares	216.1M shares

Cash from operations¹¹¹²¹³¹⁴¹⁵⁶$1.2B in 2025+13% since 2018

Capital spending¹¹¹²¹³¹⁴¹⁵⁶$837.0M in 2025+46% since 2018

Free cash flow¹¹¹²¹³¹⁴¹⁵⁶$390.0M in 2025−24% since 2018

Dividends paid¹¹¹²¹³¹⁴¹⁵⁶$322.0M in 2025+82% since 2018

Share buybacks¹¹¹²¹³¹⁴¹⁵⁶$33.0M in 2025−45% since 2018

Every line of the cash flow as filed: the last 3 fiscal years, latest first.⁶

Period ending	2025-09-30	2024-09-30	2023-09-30
Net income (loss) attributable to UGI Corporation	$678.0M	$269.0M	-$1.5B
Depreciation and amortization	$561.0M	$551.0M	$532.0M
Deferred income tax expense (benefit), net	-$46.0M	$52.0M	-$420.0M
Provision for uncollectible accounts	$37.0M	$61.0M	$69.0M
Changes in unrealized gains and losses on derivative instruments	$19.0M	$10.0M	$1.7B
(Gain) loss on disposals of businesses	$36.0M	$95.0M	$221.0M
Impairment of assets	$0	$7.0M	$19.0M
Impairment of goodwill	$0	$195.0M	$656.0M
Equity-based compensation expense	$18.0M	$8.0M	$17.0M
Loss on extinguishments of debt	$10.0M	$9.0M	$9.0M
Loss (income) from equity investees	-$5.0M	$19.0M	-$2.0M
Settlement of Energy Services interest rate swap, net of amortization	$0	-$19.0M	$19.0M
Gain on sales of fixed assets	-$25.0M	-$22.0M	-$61.0M
Other, net	-$36.0M	-$20.0M	$19.0M
Accounts receivable and accrued utility revenues	-$35.0M	$126.0M	$212.0M
Income taxes receivable	$15.0M	-$21.0M	$91.0M
Inventories	$30.0M	$32.0M	$247.0M
Utility deferred fuel costs, net of changes in unsettled derivatives	-$47.0M	-$7.0M	$64.0M
Accounts payable	-$29.0M	-$99.0M	-$291.0M
Derivative instruments collateral deposits received (paid)	$5.0M	-$9.0M	-$420.0M
Other current assets	$16.0M	$6.0M	-$36.0M
Other current liabilities	$25.0M	-$61.0M	-$18.0M
Net cash provided by operating activities	$1.2B	$1.2B	$1.1B
Expenditures for property, plant and equipment	-$837.0M	-$796.0M	-$974.0M
Acquisitions of businesses and assets, net of cash and restricted cash acquired	$0	$0	-$9.0M
Investments in equity method investees	-$38.0M	-$92.0M	-$146.0M
Settlements of net investment hedges	-$4.0M	$3.0M	$22.0M
Net proceeds from the disposition of businesses and assets	$170.0M	$93.0M	$30.0M
Other, net	$10.0M	$0	$0
Net cash provided (used) by investing activities	-$699.0M	-$792.0M	-$1.1B
Dividends on Common Stock	-$322.0M	-$318.0M	-$308.0M
Issuances of debt, net of issuance costs	$1.7B	$1.3B	$1.9B
Repayments of long-term debt and finance leases, including redemption premiums	-$1.8B	-$1.3B	-$2.0B
Short-term borrowings (repayments), net	$21.0M	-$194.0M	$267.0M
Issuances of Common Stock	$18.0M	$0	$12.0M
Repurchases of Common Stock	-$33.0M	$0	-$22.0M
Payments on Purchase Contracts	$0	-$12.0M	-$16.0M
Net cash provided (used) by financing activities	-$406.0M	-$506.0M	-$168.0M
Effect of exchange rate changes on cash, cash equivalents and restricted cash	$5.0M	$4.0M	$9.0M
Cash, cash equivalents and restricted cash increase (decrease)	$127.0M	-$112.0M	-$129.0M
Interest	$375.0M	$403.0M	$332.0M
Income taxes	$55.0M	$80.0M	-$17.0M

Compare UGI Corporation with another company

Corporate structure

UGI Corporation sits at the top of its group. 80 entities, 18 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of UGI Corporation

FMR LLC Filed SCHEDULE 13G/A on UGI Corporation, latest May 6, 2026 (2 filings since Feb 12, 2025)
VANGUARD CAPITAL MANAGEMENT LLC Filed SCHEDULE 13G on UGI Corporation, latest Apr 30, 2026
VANGUARD PORTFOLIO MANAGEMENT LLC Filed SCHEDULE 13G on UGI Corporation, latest Apr 29, 2026
VANGUARD GROUP INC Filed SCHEDULE 13G/A on UGI Corporation, latest Mar 27, 2026 (5 filings since Feb 9, 2022)
BlackRock Filed SCHEDULE 13G/A on UGI Corporation, latest Feb 5, 2025 (5 filings since Feb 7, 2022)
INFRASTRUCTURE CAPITAL ADVISORS, LLC Filed SC 13G/A on UGI Corporation, latest Oct 18, 2024 (3 filings since Feb 14, 2023)
State Street Corporation Filed SC 13G/A on UGI Corporation, latest Jan 22, 2024 (3 filings since Feb 14, 2022)
Wellington Management Company Filed SC 13G/A on UGI Corporation, latest Feb 6, 2023 (2 filings since Feb 4, 2022)

UGI Corporation King of Prussia, Pennsylvania, United States
- UGI FRANCE Courbevoie, France
  - Antargaz Courbevoie, France
- UniverGas Italia Subsidiary · 100% · Rome, Italy
- AmeriGas Subsidiary · King of Prussia
- UGI Energy Services, LLC Subsidiary · 100% · Wyomissing, Pennsylvania, United States
- AmeriGas Polska Sp. z.o.o. Subsidiary · Poland
- Antar Subsidiary · France
- Antargaz Subsidiary · France
- Antargaz Belgium N.V. Subsidiary · Belgium
- Antargaz Energies Subsidiary · France
- Antargaz Luxembourg S.A. Subsidiary · Luxembourg
- Antarsolaire Subsidiary · France
- Antsol 1 Subsidiary · France
- Antsol 10 Subsidiary · France
- Antsol 11 Subsidiary · France
- Antsol 12 Subsidiary · France
- Antsol 13 Subsidiary · France
- Antsol 14 Subsidiary · France
- Antsol 15 Subsidiary · France
- Antsol 16 Subsidiary · France
- Antsol 17 Subsidiary · France
- Antsol 2 Subsidiary · France
- Antsol 3 Subsidiary · France
- Antsol 4 Subsidiary · France
- Antsol 5 Subsidiary · France
- Antsol 6 Subsidiary · France
- and 50 more

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; subsidiaries, stakes and holdings from Wikidata (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What UGI Corporation reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

Item	Latest	A year before	Change
Finance-lease assets	$52.0M⁶ Sep 30, 2025	$54.0M⁶ Sep 30, 2024	−3.7%
Operating-lease assets (leased space)	$416.0M⁶ Sep 30, 2025	$417.0M⁶ Sep 30, 2024	−0.2%

Investments

Item	Latest	A year before	Change
Cash and cash equivalents	$335.0M⁶ Sep 30, 2025	$213.0M⁶ Sep 30, 2024	+57.3%
Stakes in other companies (equity method)	$400.0M⁶ Sep 30, 2025	$370.0M⁶ Sep 30, 2024	+8.1%

Intangibles and goodwill

Item	Latest	A year before	Change
Goodwill	$2.9B⁶ Sep 30, 2025	$2.9B⁶ Sep 30, 2024	−0.7%
Intangible assets, net (excluding goodwill)	$328.0M⁶ Sep 30, 2025	$391.0M⁶ Sep 30, 2024	−16.1%
Trademarks and trade names (indefinite-lived)	$42.0M⁶ Sep 30, 2025	$40.0M⁶ Sep 30, 2024	+5.0%
Accumulated amortization	$712.0M⁶ Sep 30, 2025	$665.0M⁶ Sep 30, 2024	+7.1%
Finite-lived intangibles, net	$286.0M⁶ Sep 30, 2025	$351.0M⁶ Sep 30, 2024	−18.5%
Customer relationships, net	$967.0M⁶ Sep 30, 2025	$985.0M⁶ Sep 30, 2024	−1.8%

Inventory

Item	Latest	A year before	Change
Inventory, total	$385.0M⁶ Sep 30, 2025	$411.0M⁶ Sep 30, 2024	−6.3%

The story

UGI was incorporated in 1882 as United Gas Improvement Co.

In 1903, the company owned the majority of the stock of the Equitable Illuminating Gas Light Company, which operated the Philadelphia Gas Works.

The company formed the United Electric Company of New Jersey in 1899. United Electric consolidated several electric and lighting utilities into a single holding company.

Public Service Corporation of New Jersey took over United Electric in 1907. United Electric was ultimately merged into Public Service Enterprise Group.

In October 1964, Industrial Gases, Inc., of Pittsburgh, Pennsylvania, filed an antitrust suit in United States district court charging the company with attempting to eliminate competition in sales of bottled propane gas in Pittsburgh. The Philadelphia Gas Works division of UGI challenged a ruling of the Federal Power Commission. The FPC lowered the maximum price that natural gas producers could charge to $0.16 per 1,000 cubic feet (28 m3) of gas. This mandate was upheld by the Supreme Court of the United States in May 1968.

In February 1968, the company changed its name to UGI Corporation.

In 1993, through its AmeriGas subsidiary, the company acquired Petrolane, which was in bankruptcy.

In 1999, the company offered to acquire Unisource Worldwide, a distributor of office paper, but it was outbid by Georgia-Pacific.

Read the full text

On April 1, 2013, John Walsh succeeded Lon Greenberg as president and chief executive officer.

In May 2015, the company acquired Totalgaz S.A.'s liquefied petroleum gas distribution operations in France for €423 million.

In October 2017, the company acquired Totalgaz Italia, a liquefied petroleum gas distribution business, and renamed it UniverGas Italia.

In December 2018, the company acquired South Jersey Industries’s retail natural gas business.

On August 1, 2019, the company acquired Columbia Midstream Group for approximately $1.275 billion.

On August 21, 2019, the company acquired the portion of AmeriGas that it did not already own.

On July 10, 2020, the company acquired GHI Energy LLC, a Houston-based renewable natural gas company.

On January 5, 2020, the company acquired Mountaineer Gas Company of West Virginia for $540 million.

From Wikipedia’s article on UGI Corporation, shared under CC BY-SA 4.0.⁸

Leadership

Who has led UGI Corporation, and when. Pick a name to see everywhere that person has worked.

Chief executive officerRobert C. Flexon Nov 5, 2024 to now²⁰
Chief executive officerMario Longhi Filho Dec 14, 2023 to Dec 14, 2023²¹
Chief executive officerRoger Perreault Jun 30, 2021 to May 25, 2023²²
Chief executive officerJohn L. Walsh Jr. Apr 2, 2013 to Jun 30, 2021²³
Chief executive officerJerry E. Sheridan Mar 5, 2012 to May 14, 2018²⁴
Chief executive officerRobert F. Beard Sep 7, 2011 to Jun 1, 2018²⁵
Chief executive officerDavid W. Trego Jan 4, 2006 to Mar 6, 2009²⁶
Chief executive officerEugene N. Bissell V. Jan 4, 2006 to Jan 3, 2012²⁷
Chief executive officerFrancois Varagne Jan 4, 2006 to Aug 18, 2008²⁸
Chief executive officerLon R. Greenberg Jan 4, 2006 to Sep 7, 2011²⁹
ChairFrancois Varagne Jan 4, 2006 to Feb 1, 2011²⁸
ChairLon R. Greenberg Jan 4, 2006 to Mar 8, 2013³⁰
PresidentJulie Fazio Mar 20, 2025 to now³¹
PresidentRobert C. Flexon Nov 5, 2024 to Mar 20, 2025²⁰
PresidentMario Longhi Filho Dec 14, 2023 to Dec 14, 2023²¹
PresidentHans G. Bell Sep 9, 2020 to Dec 14, 2023³²
PresidentJoseph L. Hartz Mar 8, 2017 to Sep 9, 2020³³
PresidentRoger Perreault Dec 9, 2015 to May 25, 2023³⁴
PresidentJerry E. Sheridan Mar 5, 2012 to May 14, 2018²⁴
PresidentRobert F. Beard Sep 7, 2011 to Jun 1, 2018²⁵
PresidentDavid W. Trego Jan 4, 2006 to Mar 6, 2009²⁶
PresidentEugene N. Bissell V. Jan 4, 2006 to Jan 3, 2012²⁷
PresidentJohn L. Walsh Jr. Jan 4, 2006 to Jun 24, 2021³⁵
Chief financial officerThaddeus J. Jastrzebski May 24, 2018 to Jan 17, 2023³⁶
Chief financial officerKirk R. Oliver Oct 3, 2012 to Jan 19, 2018³⁷
Chief financial officerRobert C. Flexon Feb 15, 2011 to Feb 17, 2011³⁸
Chief financial officerPeter Kelly Sep 5, 2007 to Feb 2, 2011³⁹
Chief operating officerJohn L. Walsh Jr. Jan 4, 2006 to Jan 28, 2013³⁵

Board members and other officers (39)

VP, CAO & Corporate ControllerJean Felix Tematio Jul 21, 2021 to now⁴⁰
Chief Information OfficerJohn Koerwer Oct 8, 2021 to now⁴¹
Chief Human Resources OfficerJudy A. Zagorski Sep 9, 2020 to Jan 3, 2024⁴²
EVP, Natural GasRobert F. Beard Jan 3, 2019 to Jan 3, 2024⁴³
VP, CAO & Corporate ControllerLaurie Bergman Feb 13, 2019 to Jun 2, 2021⁴⁴
VP, CAO & Corporate ControllerAnn P. Kelly Mar 26, 2018 to Jan 18, 2019⁴⁵
EVP, Global LPGRoger Perreault Nov 28, 2018 to Jan 5, 2021⁴⁶
Chief Accounting OfficerMarie-Dominique Ortiz-Landazabal Dec 9, 2015 to Jan 19, 2018⁴⁷
VP, Gen. Counsel & SecretaryMonica M. Gaudiosi Apr 26, 2012 to Jan 17, 2023⁴⁸
Vice President & CAODavinder S. Athwal Jan 5, 2009 to Jan 23, 2015⁴⁹
Senior VP - Finance andAnthony J. Mendicino Jan 4, 2006 to Apr 5, 2007⁵⁰
Vice President -Bradley C. Hall Jan 4, 2006 to Jan 20, 2017⁵¹
Vice President - AccountingMichael J. Cuzzolina Jan 4, 2006 to Jan 3, 2008⁵²
Board memberTina Veronica Faraca Aug 19, 2024 to now⁵³
Board memberDavid Bingenheimer Nov 5, 2024 to now⁵⁴
Board memberMelanie Ruiz Nov 5, 2024 to now⁵⁵
Board memberRobert C. Flexon Nov 5, 2024 to now²⁰
Board memberSantiago Seage Sep 26, 2023 to now⁵⁶
Board memberRoger Perreault Jun 30, 2021 to May 25, 2023²²
Board memberMario Longhi Filho Apr 22, 2020 to now⁵⁷
Board memberCindy J. Miller Sep 1, 2020 to Jan 30, 2024⁵⁸
Board memberKelly A. Romano Feb 1, 2019 to now⁵⁹
Board memberTed A. Dosch Jul 26, 2017 to now⁶⁰
Board memberJames B. Stallings Jr. Oct 6, 2015 to Jan 31, 2023⁶¹
Board memberLon R. Greenberg Aug 6, 2013 to Jan 22, 2016⁶²
Board memberRichard W. Gochnauer Jan 21, 2011 to Feb 1, 2019⁶³
Board memberFrank S. Hermance Sep 29, 2011 to Jan 31, 2023⁶⁴
Board memberM. Shawn Puccio Jan 28, 2009 to now⁶⁵
Board memberJohn L. Walsh Jr. Jan 4, 2006 to Sep 1, 2022³⁵
Board memberAnne Pol Jan 11, 2006 to Aug 23, 2019⁶⁶
Board memberErnest E. Jones Jan 11, 2006 to Mar 4, 2016⁶⁷
Board memberJames W. Stratton Jan 11, 2006 to Jan 9, 2009⁶⁸
Board memberMarvin O. Schlanger Jan 11, 2006 to Dec 17, 2020⁶⁹
Board memberRichard C. Gozon Jan 11, 2006 to Jan 10, 2011⁷⁰
Board memberStephen D. Ban Jan 11, 2006 to Jan 10, 2013⁷¹
Board memberThomas F. Donovan Jan 11, 2006 to Jan 11, 2006⁷²
Board memberRoger B. Vincent Feb 24, 2006 to May 25, 2017⁷³
General counselKathleen Shea-Ballay Jun 21, 2023 to now⁷⁴
General counselRobert H. Knauss Jan 4, 2006 to Jan 18, 2012⁷⁵

Subsidiaries and ownership

Subsidiaries

Also consolidated

Antargaz¹⁰

Subsidiaries (Exhibit 21)

AmeriGas Polska Sp. z.o.o. POLAND⁹
Antargaz B.V. NETHERLANDS⁹
Antargaz Belgium N.V. BELGIUM⁹
Antargaz Energies FRANCE⁹
Antargaz Luxembourg S.A. LUXEMBOURG⁹
Antarsolaire FRANCE⁹
Antsol 1 FRANCE⁹
Antsol 10 FRANCE⁹
Antsol 11 FRANCE⁹
Antsol 12 FRANCE⁹
Antsol 13 FRANCE⁹
Antsol 14 FRANCE⁹
Antsol 15 FRANCE⁹
Antsol 16 FRANCE⁹
Antsol 17 FRANCE⁹
Antsol 2 FRANCE⁹
Antsol 3 FRANCE⁹
Antsol 4 FRANCE⁹
Antsol 5 FRANCE⁹
Antsol 6 FRANCE⁹
Antsol 7 FRANCE⁹
Antsol 8 FRANCE⁹
Antsol 9 FRANCE⁹
AvantiGas Limited UNITED KINGDOM⁹

All 69 listed subsidiaries

AvantiGas On Ltd. UNITED KINGDOM⁹
Butane Du Havre FRANCE⁹
Circular Fuels Arboretum Limited UNITED KINGDOM⁹
Circular Fuels Limited UNITED KINGDOM⁹
Cobogal FRANCE⁹
DVEP Investeringen B.V. NETHERLANDS⁹
De Vrije Energie Producent B.V. NETHERLANDS⁹
Dimeta B.V. NETHERLANDS⁹
EnergySud S.A. BELGIUM⁹
Fieldchester LPG Ltd (formerly LPG 4 U Limited) UNITED KINGDOM⁹
Flaga GPL Romania S.r.l. ROMANIA⁹
Flaga GmbH AUSTRIA⁹
Flaga Hungaria Kft. HUNGARY⁹
Flaga s.r.o. CZECH REPUBLIC⁹
Flaga spol s.r.o. SLOVAKIA⁹
Gasbottling N.V. BELGIUM⁹
Geogaz - Lavera FRANCE⁹
Gie Donges FRANCE⁹
Groupement Technique Citernes FRANCE⁹
Kosan Gas A/S DENMARK⁹
Kosan Gas Finland Oy FINLAND⁹
Kosan Gas Norge A/S NORWAY⁹
Kosan Gas Sverige AB SWEDEN⁹
LPG Direct Limited UNITED KINGDOM⁹
Norgal FRANCE⁹
Premier LPG Limited UNITED KINGDOM⁹
Qwint B.V. NETHERLANDS⁹
Redeo Antargaz FRANCE⁹
Rhone Gaz FRANCE⁹
SP Queven FRANCE⁹
SoGaCYP FRANCE⁹
Sobegal FRANCE⁹
Stogaz FRANCE⁹
UGI Distributors Flaga GmbH AUSTRIA⁹
UGI France FRANCE⁹
UGI France NewCo I FRANCE⁹
UGI France NewCo II FRANCE⁹
UGI International Holdings B.V. NETHERLANDS⁹
UGI International LPG Distributors B.V. NETHERLANDS⁹
UGI International Sustainable Solutions B.V. NETHERLANDS⁹
UGI Kosan GmbH AUSTRIA⁹
UGI Malta Ltd. MALTA⁹
UGI Midlands Limited UNITED KINGDOM⁹
WEKAN FRANCE⁹
Zentraleuropa LPG Holding GmbH AUSTRIA⁹

From Wikidata.¹ Ownership links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); each one cites its LEI record. The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Acquisitions

2017Acquired UniverGas Italia¹

Former names

UGI CORP /NEW/Feb 14, 1994 to Feb 14, 1994⁷
United Gas Improvement Corp.1882 to 1968¹

Timeline

Oct 2, 20268-K Entered a material agreement; New debt or obligation⁷⁶
Aug 17, 20268-K Entered a material agreement; New debt or obligation⁷⁷
Aug 10, 20268-K Executive or director change⁷⁸
Aug 6, 20268-K Results of operations; Regulation FD disclosure⁷⁹
Jul 7, 20268-K Entered a material agreement; New debt or obligation⁸⁰
May 28, 20268-K Executive or director change⁸¹
May 26, 20268-K Entered a material agreement; Ended a material agreement; New debt or obligation⁸²
May 22, 20268-K Entered a material agreement; New debt or obligation⁸³
May 18, 20268-K Other events⁸⁴
May 13, 20268-K Other events⁸⁵
May 12, 20268-K Regulation FD disclosure; Other events⁸⁶
May 11, 20268-K Regulation FD disclosure; Other events⁸⁷
Nov 5, 2024New chief executive Robert C. Flexon becomes CEO²⁰
Dec 14, 2023New chief executive Mario Longhi Filho becomes CEO²¹
Jun 30, 2021New chief executive Roger Perreault becomes CEO²²
Apr 2, 2013New chief executive John L. Walsh Jr. becomes CEO¹
Mar 5, 2012New chief executive Jerry E. Sheridan becomes CEO²⁴
Sep 7, 2011New chief executive Robert F. Beard becomes CEO²⁵
Jan 4, 2006New chief executive Lon R. Greenberg becomes CEO¹
Jan 4, 2006New chief executive Francois Varagne becomes CEO²⁸
Jan 4, 2006New chief executive Eugene N. Bissell V. becomes CEO²⁷
Jan 4, 2006New chief executive David W. Trego becomes CEO²⁶
1968Renamed Name changed to UGI Corporation¹
1882Founded Founded¹

Calendar

Coming up

Nov 18, 2026 · After the closeReports results for the quarter ending Sep/2026 A year earlier it reported ($0.23) a share, on Nov 20, 2025.⁸⁸

When it reported results

Aug 6, 2026Reported quarterly or annual results⁷⁹
May 7, 2026Reported quarterly or annual results⁸⁹
Feb 5, 2026Reported quarterly or annual results⁹⁰
Nov 21, 2025Reported quarterly or annual results⁹¹
Aug 7, 2025Reported quarterly or annual results⁹²
May 8, 2025Reported quarterly or annual results⁹³
Feb 6, 2025Reported quarterly or annual results⁹⁴
Nov 22, 2024Reported quarterly or annual results⁹⁵

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

318 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 108 major events, 137 insider forms, 22 large holders, 31 other. The latest 20:

Oct 2, 20268-K EDGAR
Aug 17, 20268-K EDGAR
Aug 10, 20268-K EDGAR
Aug 6, 202610-Q EDGAR
Aug 6, 20268-K EDGAR
Jul 7, 20268-K EDGAR
Jun 24, 202611-K EDGAR
Jun 24, 202611-K EDGAR
Jun 23, 20264 EDGAR
Jun 18, 2026144 EDGAR
May 28, 20268-K EDGAR
May 26, 20268-K EDGAR
May 22, 20268-K EDGAR
May 18, 20268-K EDGAR
May 13, 20268-K EDGAR
May 12, 20268-K EDGAR
May 11, 20268-K EDGAR
May 11, 20268-K EDGAR
May 7, 202610-Q EDGAR
May 7, 20268-K EDGAR

The 318 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

25 open-market trades by officers, directors and large owners since October 2021: 4 buys and 21 sales. Grants, option exercises and gifts are left out.

Date	Who	Trade	Shares	Price	Value	Filing
Jun 18, 2026	Shea-Ballay KathleenGC and Chief Legal Officer	Sale	25,360	$33.62	$852.6K	Form 4
Feb 11, 2026	Tematio Jean FelixVP, CAO & Corporate Controller	Sale	12,840	$38.07	$488.8K	Form 4
Dec 17, 2025	Hartz Joseph L.President of Subsidiary	Sale	5,000	$38.45	$192.2K	Form 4
Dec 5, 2025	O'Brien SeanChief Financial Officer	Sale	28,709	$37.65	$1.1M	Form 4
Nov 26, 2025	Bell Hans G.President of Subsidiary	Sale	11,300	$38.91	$439.7K	Form 4
Nov 25, 2025	Hartz Joseph L.President of Subsidiary	Sale	15,000	$38.68	$580.2K	Form 4
Feb 27, 2025	Sharp MichaelPresident of Subsidiary	Buy	4,806	$33.30	$160.0K	Form 4
May 24, 2023	Perreault RogerPresident & CEO	Buy	3,565	$27.98	$99.7K	Form 4
Dec 1, 2022	HERMANCE FRANK SDirector	Sale	12,750	$38.84	$495.2K	Form 4
Nov 1, 2022	Gaudiosi Monica MVP, Gen. Counsel & Secretary	Sale	75,000	$35.31	$2.6M	Form 4
Oct 28, 2022	Perreault RogerPresident & CEO	Sale	16,341	$35.01	$572.1K	Form 4
Sep 1, 2022	Walsh John LDirector	Sale	75,000	$39.05	$2.9M	Form 4
Aug 30, 2022	Walsh John LDirector	Sale	75,000	$39.51	$3.0M	Form 4
May 27, 2022	Walsh John LDirector	Sale	105,000	$42.36	$4.4M	Form 4
Feb 18, 2022	Walsh John LDirector	Sale	0	$38.31	$19	Form 4
Feb 17, 2022	Perreault RogerPresident & CEO	Buy	3,900	$38.65	$150.7K	Form 4
Feb 16, 2022	HERMANCE FRANK SDirector	Buy	65,000	$38.15	$2.5M	Form 4
Jan 11, 2022	Walsh John LDirector	Sale	78,500	$45.09	$3.5M	Form 4
Jan 4, 2022	Walsh John LDirector	Sale	100,000	$46.07	$4.6M	Form 4
Dec 14, 2021	Gaudiosi Monica MVP, Gen. Counsel & Secretary	Sale	53,663	$44.93	$2.4M	Form 4

All 25 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

FMR LLCSCHEDULE 13G/A, 2 filings Feb 12, 2025 to May 6, 2026⁹⁶
VANGUARD CAPITAL MANAGEMENT LLCSCHEDULE 13G, 1 filing Apr 30, 2026⁹⁷
VANGUARD PORTFOLIO MANAGEMENT LLCSCHEDULE 13G, 1 filing Apr 29, 2026⁹⁸
VANGUARD GROUP INCSCHEDULE 13G/A, 5 filings Feb 9, 2022 to Mar 27, 2026⁹⁹
BlackRockSCHEDULE 13G/A, 5 filings Feb 7, 2022 to Feb 5, 2025¹⁰⁰
INFRASTRUCTURE CAPITAL ADVISORS, LLCSC 13G/A, 3 filings Feb 14, 2023 to Oct 18, 2024¹⁰¹
State Street CorporationSC 13G/A, 3 filings Feb 14, 2022 to Jan 22, 2024¹⁰²
Wellington Management CompanySC 13G/A, 2 filings Feb 4, 2022 to Feb 6, 2023¹⁰³

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

Fund	Shares	Value	Share of the fund	Change
BlackRock, Inc.	26,463,921	$914.1M	0.0%	+804,843
Fmr LLC	13,986,188	$483.1M	0.0%	−96,239
Vanguard Portfolio Management LLC	12,615,116	$435.7M	0.0%	+684,351
Vanguard Capital Management LLC	9,647,183	$333.2M	0.0%	+41,827
Neuberger Berman Group LLC	8,201,866	$283.3M	0.2%	−225,301
State Street Corp	6,869,984	$239.8M	0.0%	+120,897
Fuller & Thaler Asset Management, Inc.	5,882,917	$203.2M	0.6%	+540,545
Snyder Capital Management L P	5,365,031	$185.3M	3.2%	−1,666
Geode Capital Management, LLC	4,543,038	$157.0M	0.0%	+50,905
Northern Trust Corp	3,539,044	$122.2M	0.0%	+32,997
Mitsubishi UFJ Trust & Banking Corp	3,478,438	$120.1M	0.3%	+993,292
Aqr Capital Management LLC	3,469,229	$119.7M	0.0%	+2,544,612
Captrust Financial Advisors	3,280,003	$113.3M	0.2%	−238,193
Invesco Ltd.	3,050,658	$105.4M	0.0%	+310,589
Dimensional Fund Advisors LP	2,980,373	$102.9M	0.0%	+78,674
Bank of New York Mellon Corp	2,797,324	$96.6M	0.0%	−79,573
Hamlin Capital Management, LLC	2,656,429	$91.8M	2.1%	+16,440
Morgan Stanley	2,654,902	$91.7M	0.0%	−415,223
Norges Bank	2,627,450	$90.8M	0.0%	New
Charles Schwab Investment Management Inc	2,471,540	$85.4M	0.0%	+8,560
Goldman Sachs Group Inc	2,308,567	$79.7M	0.0%	+533,211
Manufacturers Life Insurance Company, The	2,115,491	$73.1M	0.1%	+228,187
Ameriprise Financial Inc	1,779,937	$61.5M	0.0%	+125,510
Bragg Financial Advisors, Inc	1,732,179	$59.8M	1.6%	+410,474
River Road Asset Management, LLC	1,720,788	$59.4M	0.7%	+942,097

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

4 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

Date	Member	Trade	Amount	Vs S&P since	Filing
Apr 10, 2023	Daniel S. GoldmanDemocratic, House	Sale	$1,001 - $15,000	+81.2%	Report
Apr 10, 2023	Daniel S. GoldmanDemocratic, House	Sale	$1,001 - $15,000	+81.2%	Report
Mar 1, 2023	Daniel S. GoldmanDemocratic, House	Partial sale	$1,001 - $15,000	+94.3%	Report
Mar 16, 2022	John H. RutherfordRepublican, House	Sale	$1,001 - $15,000	+72.4%	Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

SEC filer profile

How UGI Corporation is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

Name on EDGARUGI CORP /PA/²
CIK0000884614
Employer ID (EIN)23-2668356¹⁰⁴
Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company¹⁰⁴
Incorporated inPennsylvania¹⁰⁴
Fiscal year endsSeptember 30²
Industry code (SIC)4932 Gas & Other Services Combined²
SEC reviewing officeOffice of Energy & Transportation, Division of Corporation Finance²
Business address500 N Gulph Rd, P O Box 858, King Of Prussia, PA 19406²
Mailing address500 North Gulph Road, King Of Prussia, PA 19406²
Phone6103371000²
Shares outstanding214,494,967 as of Jul 31, 2026¹⁸
Public float$7.1B as of Mar 31, 2025¹⁰⁴
AuditorKPMG, LLP, Philadelphia, Pennsylvania PCAOB ID 185; it also attests to the company’s internal control over financial reporting¹⁰⁴
On EDGAR sinceFeb 14, 1994²
Filings1,817 in all: 4 (870), 8-K (400), 10-Q (92), SC 13G/A (68), 11-K (46), 3 (44), SC 13G (31), DEF 14A (30)²
All 51 form types
4/A (29), 10-K (26), UPLOAD (21), 10-K/A (17), CORRESP (17), ARS (16), 425 (10), S-8 (9), U-3A-2 (9), 144 (6), DEFA14A (6), 10-K405 (4), 10-Q/A (4), 3/A (4), 8-K/A (4), S-3ASR (4), SC 13D/A (4), SC 13E3/A (4), SCHEDULE 13G/A (4), 424B5 (3), FWP (3), SCHEDULE 13G (3), 25-NSE (2), 424B3 (2), 8-A12B (2), S-3 (2), S-4 (2), S-4/A (2), SC 13D (2), SC 13E4/A (2), 25 (1), 5 (1), CERT (1), CT ORDER (1), EFFECT (1), NO ACT (1), NT 10-K (1), NT 10-Q (1), RW (1), S-3/A (1), S-8 POS (1), SC 13E3 (1), SC 13E4 (1)
Latest filingsAnnual report (10-K) Nov 21, 2025
Quarterly report (10-Q) Aug 6, 2026
Proxy statement (DEF 14A) Dec 17, 2025
Latest 8-K (8-K) Oct 2, 2026

Securities registered for trading

Class	Symbol	Exchange
Common Stock, without par value	UGI	New York Stock Exchange

From the cover page of the 10-K filed Nov 21, 2025 (Section 12(b) of the Exchange Act).¹⁰⁴

Risk factors and legal proceedings

The risks UGI Corporation names in Item 1A of its 10-K filed Nov 21, 2025: 40 risks under these headings, as written.¹⁰⁴

Risks Relating to the Demand for Our Products and Services and Our Ability to Grow Our Customer Base
Our business is seasonal and decreases in the demand for our energy products and services because of warmer-than-normal heating season weather or unfavorable weather conditions may adversely affect our results of operations.
The potential effects of climate change may affect our business, operations, supply chain and customers, which could adversely impact our financial condition and results of operations.
•“Energy efficiency and technology advances, as well as price induced customer conservation, may result in reduced demand for our energy products and services”;
•“Our operations may be adversely affected by competition from other energy sources”;
•“Our need to comply with, and respond to, industry-wide changes resulting from, comprehensive, complex, and sometimes unpredictable governmental regulations, including regulatory initiatives aimed at increasing competition within our industry, may increase our costs and limit our revenue growth, which may adversely affect our operating results”;
•“Our operations, financial results and cash flows may be adversely affected by existing and future global climate change laws and regulations, including with respect to GHG emission restrictions, as well as market responses thereto”; and
•“We are subject to operating and litigation risks that may not be covered by insurance”.
Our potential to increase revenues may be affected by the decline in retail volumes of LPG and our ability to retain and grow our customer base.
Energy efficiency and technology advances, as well as price induced customer conservation, may result in reduced demand for our energy products and services.
Our operations may be adversely affected by competition from other energy sources.
The expansion, construction and development of our energy infrastructure assets subjects us to risks.

The other 28 risks

Risks Relating to Our Business Operations, Including Internal and External Factors that May Impact Our Operational Continuity
Our utility transmission and distribution systems, our non-utility midstream assets, and the assets of upstream interstate pipelines and other midstream providers may not operate as planned, which may increase our expenses or decrease our revenues and, thus, have an adverse impact on our financial results.
Risks Relating to Our International Operations
Our international operations could be subject to increased risks, which may negatively affect our business results.
Economic and geopolitical instability, including as a result of acts of war, have had, and could continue to have, an adverse effect on our operating results, financial condition, and cash flows.
Risks Relating to Our Supply Chain and Our Ability to Obtain Adequate Quantities of LPG
We are dependent on our principal LPG suppliers, which increases the risks from an interruption in supply and transportation.
Our ability to obtain sufficient quantities of LPG is dependent on transportation facilities and providers.
Our profitability is subject to LPG pricing and inventory risk.
Changes in commodity market prices may have a significant negative effect on our liquidity.
Supplier and derivative counterparty defaults may have a negative effect on our operating results.
Our business is dependent on the domestic and global supply chain to ensure that equipment, materials and other resources are available to both expand and maintain services in a safe and reliable manner. Moreover, prices of equipment, materials and other resources have increased recently and may continue to increase in the future. Failure to secure equipment, materials and other resources on economically acceptable terms may adversely impact our financial condition and results of operations.
Risks Relating to Government Regulation and Oversight
Regulators may not approve the rates we request and existing rates may be challenged, which may adversely affect our results of operations.
The enactment of proposed or future tax legislation may adversely impact our financial condition and results of operations.
Our need to comply with, and respond to, industry-wide changes resulting from, comprehensive, complex, and sometimes unpredictable governmental regulations, including regulatory initiatives aimed at increasing competition within our industry, may increase our costs and limit our revenue growth, which may adversely affect our operating results. While we
Our operations, financial results and cash flows may be adversely affected by existing and future global climate change laws and regulations, including with respect to GHG emission restrictions, as well as market responses thereto.
Changes in data privacy and data protection laws and regulations or any failure to comply with such laws and regulations, could adversely affect our business and financial results.
The provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”), related regulations, and the rules adopted thereunder and other regulations, including the European Market Infrastructure Regulation (the “EMIR”), may have an adverse effect on our ability to use derivative instruments to hedge risks associated with our business.
General Risks that May Impact Our Business and Our Shareholders
The inability to attract, develop, retain and engage key employees could adversely affect our ability to execute our strategic, operational and financial plans.
We may not be able to collect on the accounts of our customers.
We are subject to operating and litigation risks that may not be covered by insurance.
The risk of natural disasters, pandemics and catastrophic events, including acts of war and terrorism, may adversely affect the economy and the price and availability of LPG, other refined fuels and natural gas.
Our indebtedness may adversely affect our business, financial condition and operating results. Our debt agreements also contain covenants that restrict our operational flexibility.
Conversion of our convertible debt instruments could negatively affect our liquidity, dilute shareholders, or impact our financial position.
Our holding company structure could limit our ability to pay dividends or service debt.
Volatility in credit and capital markets may restrict our ability to grow, increase the likelihood of defaults by our suppliers and vendors, customers and counterparties and adversely affect our operating results.
We depend on our intellectual property and failure to protect that intellectual property could adversely affect us.
Declines in the stock market or bond market, and a low interest rate environment, may negatively impact our balance sheet and pension liability.
Unless we otherwise consent in writing, our Amended and Restated Bylaws designate a state court located in Montgomery County, Pennsylvania or, if no state court located within such county has jurisdiction over such action or proceeding, the federal United States District Court for the Eastern District of Pennsylvania, as the sole and exclusive forum for certain types of actions and proceedings that may be initiated by our shareholders, which could discourage lawsuits against us and our directors and officers.

Legal proceedings

With the exception of those matters set forth in Note 16 to Consolidated Financial Statements included in Item 15 of this Report, no material legal proceedings are pending involving the Company, any of its subsidiaries, or any of their properties, and no such proceedings are known to be contemplated by governmental authorities other than claims arising in the ordinary course of business.

The opening of Item 3, Legal Proceedings.¹⁰⁴

Sources

The numbers on this page point here. Each one links to the record it came from.

1
WikidataUGI Corporation on Wikidata
2
SEC EDGARUGI Corporation filings on SEC EDGAR
3
WikipediaUGI Corporation on Wikipedia
4
GLEIFUGI Corporation LEI record (DX6GCWD4Q1JO9CRE5I40)
5
Wikimedia CommonsUGI Corporation logo by UGI Corporation, Public domain
6
SEC EDGARUGI Corporation 10-K for fiscal 2025
7
SEC EDGARUGI Corporation filings on SEC EDGAR
8
WikipediaUGI Corporation on Wikipedia (revision used)
9
SEC EDGARUGI Corporation annual report, Exhibit 21 (subsidiaries)
10
GLEIFAntargaz: LEI record
11
SEC EDGARUGI Corporation 10-K for fiscal 2018
12
SEC EDGARUGI Corporation 10-K for fiscal 2019
13
SEC EDGARUGI Corporation 10-K for fiscal 2020
14
SEC EDGARUGI Corporation 10-K for fiscal 2021
15
SEC EDGARUGI Corporation 10-K for fiscal 2022
16
SEC EDGARUGI Corporation 10-Q for fiscal 2025
17
SEC EDGARUGI Corporation 10-Q for fiscal 2026
18
SEC EDGARUGI Corporation 10-Q for fiscal 2026
19
SEC EDGARUGI Corporation 10-K for fiscal 2018
20
SEC EDGARRobert C. Flexon, Chief executive officer
21
SEC EDGARMario Longhi Filho, Chief executive officer
22
SEC EDGARRoger Perreault, Chief executive officer
23
Wikidata and SEC EDGARJohn L. Walsh Jr., Chief executive officer
24
SEC EDGARJerry E. Sheridan, Chief executive officer
25
SEC EDGARRobert F. Beard, Chief executive officer
26
SEC EDGARDavid W. Trego, Chief executive officer
27
SEC EDGAREugene N. Bissell V., Chief executive officer
28
SEC EDGARFrancois Varagne, Chief executive officer
29
Wikidata and SEC EDGARLon R. Greenberg, Chief executive officer
30
SEC EDGARLon R. Greenberg, Chair
31
SEC EDGARJulie Fazio, President
32
SEC EDGARHans G. Bell, President
33
SEC EDGARJoseph L. Hartz, President
34
SEC EDGARRoger Perreault, President
35
SEC EDGARJohn L. Walsh Jr., President
36
SEC EDGARThaddeus J. Jastrzebski, Chief financial officer
37
SEC EDGARKirk R. Oliver, Chief financial officer
38
SEC EDGARRobert C. Flexon, Chief financial officer
39
SEC EDGARPeter Kelly, Chief financial officer
40
SEC EDGARJean Felix Tematio, VP, CAO & Corporate Controller
41
SEC EDGARJohn Koerwer, Chief Information Officer
42
SEC EDGARJudy A. Zagorski, Chief Human Resources Officer
43
SEC EDGARRobert F. Beard, EVP, Natural Gas
44
SEC EDGARLaurie Bergman, VP, CAO & Corporate Controller
45
SEC EDGARAnn P. Kelly, VP, CAO & Corporate Controller
46
SEC EDGARRoger Perreault, EVP, Global LPG
47
SEC EDGARMarie-Dominique Ortiz-Landazabal, Chief Accounting Officer
48
SEC EDGARMonica M. Gaudiosi, VP, Gen. Counsel & Secretary
49
SEC EDGARDavinder S. Athwal, Vice President & CAO
50
SEC EDGARAnthony J. Mendicino, Senior VP - Finance and
51
SEC EDGARBradley C. Hall, Vice President -
52
SEC EDGARMichael J. Cuzzolina, Vice President - Accounting
53
SEC EDGARTina Veronica Faraca, Board member
54
SEC EDGARDavid Bingenheimer, Board member
55
SEC EDGARMelanie Ruiz, Board member
56
SEC EDGARSantiago Seage, Board member
57
SEC EDGARMario Longhi Filho, Board member
58
SEC EDGARCindy J. Miller, Board member
59
SEC EDGARKelly A. Romano, Board member
60
SEC EDGARTed A. Dosch, Board member
61
SEC EDGARJames B. Stallings Jr., Board member
62
SEC EDGARLon R. Greenberg, Board member
63
SEC EDGARRichard W. Gochnauer, Board member
64
SEC EDGARFrank S. Hermance, Board member
65
SEC EDGARM. Shawn Puccio, Board member
66
SEC EDGARAnne Pol, Board member
67
SEC EDGARErnest E. Jones, Board member
68
SEC EDGARJames W. Stratton, Board member
69
SEC EDGARMarvin O. Schlanger, Board member
70
SEC EDGARRichard C. Gozon, Board member
71
SEC EDGARStephen D. Ban, Board member
72
SEC EDGARThomas F. Donovan, Board member
73
SEC EDGARRoger B. Vincent, Board member
74
SEC EDGARKathleen Shea-Ballay, General counsel
75
SEC EDGARRobert H. Knauss, General counsel
76
SEC EDGAREntered a material agreement; New debt or obligation
77
SEC EDGAREntered a material agreement; New debt or obligation
78
SEC EDGARExecutive or director change
79
SEC EDGARResults of operations; Regulation FD disclosure
80
SEC EDGAREntered a material agreement; New debt or obligation
81
SEC EDGARExecutive or director change
82
SEC EDGAREntered a material agreement; Ended a material agreement; New debt or obligation
83
SEC EDGAREntered a material agreement; New debt or obligation
84
SEC EDGAROther events
85
SEC EDGAROther events
86
SEC EDGARRegulation FD disclosure; Other events
87
SEC EDGARRegulation FD disclosure; Other events
88
NasdaqNasdaq calendar
89
SEC EDGARUGI Corporation 8-K, Item 2.02 (results of operations)
90
SEC EDGARUGI Corporation 8-K, Item 2.02 (results of operations)
91
SEC EDGARUGI Corporation 8-K, Item 2.02 (results of operations)
92
SEC EDGARUGI Corporation 8-K, Item 2.02 (results of operations)
93
SEC EDGARUGI Corporation 8-K, Item 2.02 (results of operations)
94
SEC EDGARUGI Corporation 8-K, Item 2.02 (results of operations)
95
SEC EDGARUGI Corporation 8-K, Item 2.02 (results of operations)
96
SEC EDGARFMR LLC SCHEDULE 13G/A on UGI Corporation
97
SEC EDGARVANGUARD CAPITAL MANAGEMENT LLC SCHEDULE 13G on UGI Corporation
98
SEC EDGARVANGUARD PORTFOLIO MANAGEMENT LLC SCHEDULE 13G on UGI Corporation
99
SEC EDGARVANGUARD GROUP INC SCHEDULE 13G/A on UGI Corporation
100
SEC EDGARBlackRock SCHEDULE 13G/A on UGI Corporation
101
SEC EDGARINFRASTRUCTURE CAPITAL ADVISORS, LLC SC 13G/A on UGI Corporation
102
SEC EDGARState Street Corporation SC 13G/A on UGI Corporation
103
SEC EDGARWellington Management Company SC 13G/A on UGI Corporation
104
SEC EDGARUGI Corporation 10-K filed Nov 21, 2025: cover page