The document provides information for UGI Corporation's Q3 2015 earnings conference call, including:
- UGI reported adjusted EPS of $0.03 compared to $0.10 in Q3 2014, impacted by a $0.06 loss from its Totalgaz acquisition.
- Business segments like AmeriGas Propane, UGI International, and Midstream & Marketing saw lower earnings due to factors like warmer weather and currency impacts. The Gas Utility saw higher earnings from customer growth.
- UGI has available liquidity of $432.9 million and over $600 million in identified capital projects underway across its businesses to drive future growth.
Ugi 2015 q3 earnings call presentation v finalUGI_Corporation
The document provides information on UGI Corporation's Q3 2015 earnings conference call. It includes:
- UGI reported adjusted EPS of $0.03 compared to $0.10 in Q3 2014, impacted by a $0.06 loss from its Totalgaz acquisition.
- Business unit results were mixed - AmeriGas saw lower volume due to warmer weather but higher margins, while UGI International faced acquisition costs and currency impacts.
- Midstream & Marketing had higher natural gas and power margins but lower capacity management income.
- The company reiterated its FY2015 adjusted EPS guidance range despite the Totalgaz impact.
This document summarizes UGI Corporation's 2014 Q4 earnings conference call. UGI reported adjusted EPS of $1.99 for FY2014 and issued guidance of $1.88-$1.98 for FY2015 adjusted EPS. Business segments like AmeriGas saw growth in 2014 despite warmer weather. UGI also discussed strategic initiatives including partnerships in midstream infrastructure projects and an acquisition in France. The company concluded with strong financial performance in 2014 and growth opportunities across all business segments in the coming year.
This document summarizes UGI Corporation's 2014 Q4 earnings conference call. UGI reported adjusted EPS of $1.99 for FY2014 and issued guidance of $1.88-$1.98 for FY2015 adjusted EPS. Business segments like AmeriGas and Midstream & Marketing achieved strong growth in 2014 despite warmer weather. UGI also discussed strategic acquisitions and growth initiatives across its business units positioning the company for continued growth.
Ugi 2015 q2 earnings call presentation v finalUGI_Corporation
The document provides information on UGI Corporation's Q2 2015 earnings conference call. It includes details on the company's financial results, operational performance, and strategic initiatives. UGI saw higher adjusted EPS compared to last year, driven by strong performance across its businesses. Midstream and Marketing benefited from capacity constraints. Utilities saw record profits from customer growth and colder weather. AmeriGas achieved record adjusted EBITDA despite warmer weather. UGI remains focused on growing its business through projects and acquisitions.
The document provides details of UGI Corporation's Q3 2014 earnings conference call. It summarizes key financial results including a 36% increase in adjusted EPS compared to the prior year period. Operational highlights are presented for each business segment showing performance against the prior year. Weather impacts, margin and expense drivers are discussed. The document concludes with an update on liquidity, dividend increases, and affirmed guidance for the year.
- UGI Corporation held a conference call on May 8, 2014 to discuss Q2 2014 earnings results.
- Adjusted EPS for Q2 2014 was $1.90, a 26% increase over the prior year period. FY2014 adjusted EPS guidance was increased to a range of $2.95 to $3.05.
- Results were driven by colder than normal weather in key regions, increasing natural gas demand, and strategic investments and acquisitions across UGI's businesses. However, significant supply issues and infrastructure constraints also increased costs.
- Broadwind obtained industry data from various third party sources but does not guarantee its accuracy. Forward-looking statements are subject to risks and uncertainties.
- Tower production is returning to normal levels at the Abilene plant. Continuous improvement efforts continue to increase productivity. Strong performance at the Manitowoc plant has increased section production by 25% versus Q1 2014.
- A $50M tower order was received in Q2 2015 for 2016 production. Gearing orders were weak due to depressed oil & gas and mining markets but services orders rebounded. Over 90% of expected H2 2015 revenue was in backlog at the end of Q2 2015.
Electrolux Interim Report Q2 2017 - PresentationElectrolux Group
Highlights of the second quarter of 2017
Net sales increased by 5.1% to SEK 31,502m (29,983).
Organic sales were unchanged, contribution from acquisitions and divestments was 1.2% while currency translation had a positive impact of 3.9% on net sales.
Operating income increased to SEK 1,942m (1,564), corresponding to a margin of 6.2% (5.2).
Four of six business areas achieved an operating margin above 6%.
Solid operating cash flow after investments of SEK 3.5bn (4.1).
Income for the period increased to SEK 1,308m (1,079), and earnings per share was SEK 4.55 (3.75).
Ugi 2015 q3 earnings call presentation v finalUGI_Corporation
The document provides information on UGI Corporation's Q3 2015 earnings conference call. It includes:
- UGI reported adjusted EPS of $0.03 compared to $0.10 in Q3 2014, impacted by a $0.06 loss from its Totalgaz acquisition.
- Business unit results were mixed - AmeriGas saw lower volume due to warmer weather but higher margins, while UGI International faced acquisition costs and currency impacts.
- Midstream & Marketing had higher natural gas and power margins but lower capacity management income.
- The company reiterated its FY2015 adjusted EPS guidance range despite the Totalgaz impact.
This document summarizes UGI Corporation's 2014 Q4 earnings conference call. UGI reported adjusted EPS of $1.99 for FY2014 and issued guidance of $1.88-$1.98 for FY2015 adjusted EPS. Business segments like AmeriGas saw growth in 2014 despite warmer weather. UGI also discussed strategic initiatives including partnerships in midstream infrastructure projects and an acquisition in France. The company concluded with strong financial performance in 2014 and growth opportunities across all business segments in the coming year.
This document summarizes UGI Corporation's 2014 Q4 earnings conference call. UGI reported adjusted EPS of $1.99 for FY2014 and issued guidance of $1.88-$1.98 for FY2015 adjusted EPS. Business segments like AmeriGas and Midstream & Marketing achieved strong growth in 2014 despite warmer weather. UGI also discussed strategic acquisitions and growth initiatives across its business units positioning the company for continued growth.
Ugi 2015 q2 earnings call presentation v finalUGI_Corporation
The document provides information on UGI Corporation's Q2 2015 earnings conference call. It includes details on the company's financial results, operational performance, and strategic initiatives. UGI saw higher adjusted EPS compared to last year, driven by strong performance across its businesses. Midstream and Marketing benefited from capacity constraints. Utilities saw record profits from customer growth and colder weather. AmeriGas achieved record adjusted EBITDA despite warmer weather. UGI remains focused on growing its business through projects and acquisitions.
The document provides details of UGI Corporation's Q3 2014 earnings conference call. It summarizes key financial results including a 36% increase in adjusted EPS compared to the prior year period. Operational highlights are presented for each business segment showing performance against the prior year. Weather impacts, margin and expense drivers are discussed. The document concludes with an update on liquidity, dividend increases, and affirmed guidance for the year.
- UGI Corporation held a conference call on May 8, 2014 to discuss Q2 2014 earnings results.
- Adjusted EPS for Q2 2014 was $1.90, a 26% increase over the prior year period. FY2014 adjusted EPS guidance was increased to a range of $2.95 to $3.05.
- Results were driven by colder than normal weather in key regions, increasing natural gas demand, and strategic investments and acquisitions across UGI's businesses. However, significant supply issues and infrastructure constraints also increased costs.
- Broadwind obtained industry data from various third party sources but does not guarantee its accuracy. Forward-looking statements are subject to risks and uncertainties.
- Tower production is returning to normal levels at the Abilene plant. Continuous improvement efforts continue to increase productivity. Strong performance at the Manitowoc plant has increased section production by 25% versus Q1 2014.
- A $50M tower order was received in Q2 2015 for 2016 production. Gearing orders were weak due to depressed oil & gas and mining markets but services orders rebounded. Over 90% of expected H2 2015 revenue was in backlog at the end of Q2 2015.
Electrolux Interim Report Q2 2017 - PresentationElectrolux Group
Highlights of the second quarter of 2017
Net sales increased by 5.1% to SEK 31,502m (29,983).
Organic sales were unchanged, contribution from acquisitions and divestments was 1.2% while currency translation had a positive impact of 3.9% on net sales.
Operating income increased to SEK 1,942m (1,564), corresponding to a margin of 6.2% (5.2).
Four of six business areas achieved an operating margin above 6%.
Solid operating cash flow after investments of SEK 3.5bn (4.1).
Income for the period increased to SEK 1,308m (1,079), and earnings per share was SEK 4.55 (3.75).
Electrolux - Interim Report Q3 2017 - PresentationElectrolux Group
Highlights of the third quarter of 2017
Net sales amounted to SEK 29,309m (30,852).
Organic sales declined by 3.2%, currency translation had a negative impact of 3.2%, contribution from acquisitions and divestments was 1.4%.
Operating income increased to SEK 1,960m (1,826), corresponding to a margin of 6.7% (5.9).
Operating margins improved across business areas and four business areas achieved an operating margin above 7%.
Operating cash flow after investments amounted to SEK 2.3bn (3.0).
Income for the period increased to SEK 1,424m (1,267), and earnings per share was SEK 4.96 (4.41).
Highlights of the second quarter of 2017
Net sales increased by 5.1% to SEK 31,502m (29,983).
Organic sales were unchanged, contribution from acquisitions and divestments was 1.2% while currency translation had a positive impact of 3.9% on net sales.
Operating income increased to SEK 1,942m (1,564), corresponding to a margin of 6.2% (5.2).
Four of six business areas achieved an operating margin above 6%.
Solid operating cash flow after investments of SEK 3.5bn (4.1).
Income for the period increased to SEK 1,308m (1,079), and earnings per share was SEK 4.55 (3.75).
4Q16/2016 Results Presentation - CPFL EnergiaCPFL RI
This document provides a summary of 4Q16 and full year 2016 results for CPFL Energia. Some key highlights include:
- Sales increased 6.8% in 4Q16 and decreased 3.3% excluding a new acquisition. Load decreased 3.3% excluding the acquisition.
- EBITDA decreased 15.7% in 4Q16 and 0.4% for the full year, driven by lower distribution results due to regulatory and market factors.
- Net income decreased 62.2% in 4Q16 and was flat for the full year, impacted by higher financial expenses from debt and exchange rate variations.
- The company maintained strong financial metrics with leverage of 3.21x net debt/
The document reports on the 1Q15 results of Eucatex Group, a Brazilian manufacturer of wood panels and paints, noting that net revenue grew 5.5% to R$278 million compared to 1Q14, while recurring EBITDA was stable at R$47.8 million and the EBITDA margin declined by 0.9 percentage points. Exports grew significantly in both volume and revenue, while installed capacity utilization rates for the company's different panel products ranged from 74% to 89%. The company invested R$12.8 million in planned capital expenditures during 1Q15.
Hera Group reported positive financial results for the first half of 2015, with revenues increasing 6.4%, EBITDA up 2.5%, and net profit growing 11.4% compared to the same period last year. All business segments returned to revenue growth in the second quarter. Cash flow was also positive, covering dividend payments and partially funding acquisitions. The presentation provided details on financial and operating metrics for the first half by business segment.
This document summarizes an analyst day presentation by UGI Corporation. It discusses UGI's diverse business segments, including utilities, energy services, and propane distribution. It highlights recent investments and growth opportunities across its businesses. Management provides guidance of 6-10% annual EPS growth driven by organic growth projects and acquisitions. The utilities segment overview discusses its strong customer growth, infrastructure investments, and opportunities to expand natural gas access in Pennsylvania.
Klöckner & Co SE - HY 1 2014 Results - Analysts' and Investors' Conference Klöckner & Co SE
Charts accompanying the HY 1 2014 Results Analysts' and Investors' Conference on August 7, 2014
Press Release: http://www.kloeckner.com/en/media/press-releases-5057.php
Vattenfall's year-end report summarizes its financial and operational results for 2015. Key points include:
- Net sales were SEK 164.5 billion, while underlying operating profit was SEK 20.5 billion. However, operating profit was negatively impacted by SEK 43.5 billion in impairment losses, resulting in an overall operating loss.
- Profit after tax was a loss of SEK -19.8 billion due to the impairment losses. No dividend will be paid.
- Electricity generation was 173.4 TWh, with fossil fuels making up 49% of generation and nuclear power 24%.
- Financial targets for return on capital employed and debt ratios were not met due to lower profits
The Propane Education & Research Council held a meeting on April 7, 2016. The Chairman's report and reports from various subcommittees were provided. Metrics for 2015 commercialization of propane applications were presented, including actual and projected gallons used, applications contributing the most gallons, and financial returns. Factors impacting 2015 metrics and the product development portfolio were also reviewed. The Treasurer reported on the 2015 audited financial results and the Audit Committee provided the 2015 audit report. The CEO discussed strategic considerations and a potential budget scenario for 2017-2018 with a reduced assessment. The CBO reported on progress in the residential, commercial, forklift and commercial mowing markets.
Company website presentation (b) january 2015AnteroResources
The document provides an overview of Antero Resources Corporation, including:
1) Antero has assembled over 543,000 net acres in the core of the Marcellus and Utica shale plays and is the most active operator in Appalachia.
2) The company is targeting 40% production growth in 2015 to over 1,400 MMcfe/d through development of its large inventory of drilling locations.
3) Antero has established a significant firm transportation and processing portfolio through Antero Midstream Partners to access favorable downstream markets.
Company website presentation (b) january 2015AnteroResources
The document provides an overview of Antero Resources Corporation, including:
1) Antero has assembled over 543,000 net acres in the core of the Marcellus and Utica shale plays and is the most active operator in Appalachia.
2) The company is targeting 40% production growth in 2015 to over 1,400 MMcfe/d with 94% of expected natural gas production hedged at $4.47/MMBtu.
3) Antero has significant natural gas and liquids reserves and drilling inventory that can generate attractive returns supported by its long-term hedging program and firm transportation and processing portfolio.
Capital Power 2014 Q4 Results Analyst PresentationCapital Power
Feb. 23, 2015: Capital Power Corporation (TSX: CPX) released financial results for the fourth quarter and year ended December 31, 2014. Capital Power hosted a conference call and live webcast with analysts on February 23, 2015 at 11:00 AM (ET) to discuss the fourth quarter results.
Investor presentation of financial results and operational data of Enea Capital Group in Q3 2015. Discussion of financial results and major events in 2015.
1) Energy market and key operating data
2) Enea CG's financial results in Q3 and Q1-Q3 2015
3) Update of Strategy for 2015-2020
4) New unit in Kozienice Power Plant
5) Acqusition of LW Bogdanka
This document provides a summary of Tegma Gestão Logística S.A.'s results for the second quarter and first half of 2008. It highlights a 45.8% increase in net revenue for the second quarter compared to the same period in 2007. Adjusted EBITDAR grew 21.4% for the second quarter. For the first half of 2008, net revenue increased 44.7% and adjusted EBITDAR grew 18.3% over the first half of 2007. The document also provides guidance for 2008 with projected net revenue between R$1,000-1,150 million and adjusted EBITDAR between R$160-185 million.
This document provides a summary of Ingersoll Rand's first quarter 2017 results. Some key points:
- Revenue increased 4% year-over-year on an organic basis to $3 billion. Adjusted EPS increased 14% to $0.57.
- Commercial and residential HVAC businesses saw strong revenue and bookings growth in the high-single digits. Industrial business bookings were up 9%.
- Adjusted operating margins improved in both the climate and industrial segments.
- Guidance for full-year 2017 revenue growth remains at 2-3% organic and adjusted EPS is increased to a range of $4.35 to $4.50.
Sarah is a woman's name. Names are how we refer to individuals to distinguish one person from another. This document contains the name "Sarah" and does not provide any other context or information.
This document provides a summary of Jose Jorge Plascencia Mucino's work experience and qualifications. Over his career, he has held various roles in technical support, help desk support, systems engineering, and network administration. He has over 10 years of experience providing customer support and working with Windows operating systems.
The document discusses various topics related to the courtroom including the mind of the jury, different views of the courtroom, the American jury system, and statistics. It emphasizes taking a step-by-step approach to mastering courtroom techniques, focusing on just a few at a time to avoid feeling overwhelmed. The final sections discuss the importance of experiential learning and preparation, and share a quote about the wisdom that can be learned from dogs by openly expressing wants and needs for love.
Dallas Arcand is a hoop dancer who competed at the World Folkloric Dance Competition in Poland. He took up hoop dancing after being inspired by his cousin's performance. Dallas dances with a group called the Red Earth Dancers, who sometimes perform in schools to educate others about Indigenous culture and traditions. His fancy dance costume contains over 250 feathers and he keeps the hoops in motion through precise movements of his arms, legs, torso and hips.
This document discusses linking and loaders. It covers topics like object file formats (COFF, ELF, a.out), sections and segments, the linking process, dynamic linking using the procedure linkage table and global offset table, and relocation. Key terms discussed include loaders, linkers, sections like .text, .data, .bss, and dynamic linking concepts like position independent code.
Electrolux - Interim Report Q3 2017 - PresentationElectrolux Group
Highlights of the third quarter of 2017
Net sales amounted to SEK 29,309m (30,852).
Organic sales declined by 3.2%, currency translation had a negative impact of 3.2%, contribution from acquisitions and divestments was 1.4%.
Operating income increased to SEK 1,960m (1,826), corresponding to a margin of 6.7% (5.9).
Operating margins improved across business areas and four business areas achieved an operating margin above 7%.
Operating cash flow after investments amounted to SEK 2.3bn (3.0).
Income for the period increased to SEK 1,424m (1,267), and earnings per share was SEK 4.96 (4.41).
Highlights of the second quarter of 2017
Net sales increased by 5.1% to SEK 31,502m (29,983).
Organic sales were unchanged, contribution from acquisitions and divestments was 1.2% while currency translation had a positive impact of 3.9% on net sales.
Operating income increased to SEK 1,942m (1,564), corresponding to a margin of 6.2% (5.2).
Four of six business areas achieved an operating margin above 6%.
Solid operating cash flow after investments of SEK 3.5bn (4.1).
Income for the period increased to SEK 1,308m (1,079), and earnings per share was SEK 4.55 (3.75).
4Q16/2016 Results Presentation - CPFL EnergiaCPFL RI
This document provides a summary of 4Q16 and full year 2016 results for CPFL Energia. Some key highlights include:
- Sales increased 6.8% in 4Q16 and decreased 3.3% excluding a new acquisition. Load decreased 3.3% excluding the acquisition.
- EBITDA decreased 15.7% in 4Q16 and 0.4% for the full year, driven by lower distribution results due to regulatory and market factors.
- Net income decreased 62.2% in 4Q16 and was flat for the full year, impacted by higher financial expenses from debt and exchange rate variations.
- The company maintained strong financial metrics with leverage of 3.21x net debt/
The document reports on the 1Q15 results of Eucatex Group, a Brazilian manufacturer of wood panels and paints, noting that net revenue grew 5.5% to R$278 million compared to 1Q14, while recurring EBITDA was stable at R$47.8 million and the EBITDA margin declined by 0.9 percentage points. Exports grew significantly in both volume and revenue, while installed capacity utilization rates for the company's different panel products ranged from 74% to 89%. The company invested R$12.8 million in planned capital expenditures during 1Q15.
Hera Group reported positive financial results for the first half of 2015, with revenues increasing 6.4%, EBITDA up 2.5%, and net profit growing 11.4% compared to the same period last year. All business segments returned to revenue growth in the second quarter. Cash flow was also positive, covering dividend payments and partially funding acquisitions. The presentation provided details on financial and operating metrics for the first half by business segment.
This document summarizes an analyst day presentation by UGI Corporation. It discusses UGI's diverse business segments, including utilities, energy services, and propane distribution. It highlights recent investments and growth opportunities across its businesses. Management provides guidance of 6-10% annual EPS growth driven by organic growth projects and acquisitions. The utilities segment overview discusses its strong customer growth, infrastructure investments, and opportunities to expand natural gas access in Pennsylvania.
Klöckner & Co SE - HY 1 2014 Results - Analysts' and Investors' Conference Klöckner & Co SE
Charts accompanying the HY 1 2014 Results Analysts' and Investors' Conference on August 7, 2014
Press Release: http://www.kloeckner.com/en/media/press-releases-5057.php
Vattenfall's year-end report summarizes its financial and operational results for 2015. Key points include:
- Net sales were SEK 164.5 billion, while underlying operating profit was SEK 20.5 billion. However, operating profit was negatively impacted by SEK 43.5 billion in impairment losses, resulting in an overall operating loss.
- Profit after tax was a loss of SEK -19.8 billion due to the impairment losses. No dividend will be paid.
- Electricity generation was 173.4 TWh, with fossil fuels making up 49% of generation and nuclear power 24%.
- Financial targets for return on capital employed and debt ratios were not met due to lower profits
The Propane Education & Research Council held a meeting on April 7, 2016. The Chairman's report and reports from various subcommittees were provided. Metrics for 2015 commercialization of propane applications were presented, including actual and projected gallons used, applications contributing the most gallons, and financial returns. Factors impacting 2015 metrics and the product development portfolio were also reviewed. The Treasurer reported on the 2015 audited financial results and the Audit Committee provided the 2015 audit report. The CEO discussed strategic considerations and a potential budget scenario for 2017-2018 with a reduced assessment. The CBO reported on progress in the residential, commercial, forklift and commercial mowing markets.
Company website presentation (b) january 2015AnteroResources
The document provides an overview of Antero Resources Corporation, including:
1) Antero has assembled over 543,000 net acres in the core of the Marcellus and Utica shale plays and is the most active operator in Appalachia.
2) The company is targeting 40% production growth in 2015 to over 1,400 MMcfe/d through development of its large inventory of drilling locations.
3) Antero has established a significant firm transportation and processing portfolio through Antero Midstream Partners to access favorable downstream markets.
Company website presentation (b) january 2015AnteroResources
The document provides an overview of Antero Resources Corporation, including:
1) Antero has assembled over 543,000 net acres in the core of the Marcellus and Utica shale plays and is the most active operator in Appalachia.
2) The company is targeting 40% production growth in 2015 to over 1,400 MMcfe/d with 94% of expected natural gas production hedged at $4.47/MMBtu.
3) Antero has significant natural gas and liquids reserves and drilling inventory that can generate attractive returns supported by its long-term hedging program and firm transportation and processing portfolio.
Capital Power 2014 Q4 Results Analyst PresentationCapital Power
Feb. 23, 2015: Capital Power Corporation (TSX: CPX) released financial results for the fourth quarter and year ended December 31, 2014. Capital Power hosted a conference call and live webcast with analysts on February 23, 2015 at 11:00 AM (ET) to discuss the fourth quarter results.
Investor presentation of financial results and operational data of Enea Capital Group in Q3 2015. Discussion of financial results and major events in 2015.
1) Energy market and key operating data
2) Enea CG's financial results in Q3 and Q1-Q3 2015
3) Update of Strategy for 2015-2020
4) New unit in Kozienice Power Plant
5) Acqusition of LW Bogdanka
This document provides a summary of Tegma Gestão Logística S.A.'s results for the second quarter and first half of 2008. It highlights a 45.8% increase in net revenue for the second quarter compared to the same period in 2007. Adjusted EBITDAR grew 21.4% for the second quarter. For the first half of 2008, net revenue increased 44.7% and adjusted EBITDAR grew 18.3% over the first half of 2007. The document also provides guidance for 2008 with projected net revenue between R$1,000-1,150 million and adjusted EBITDAR between R$160-185 million.
This document provides a summary of Ingersoll Rand's first quarter 2017 results. Some key points:
- Revenue increased 4% year-over-year on an organic basis to $3 billion. Adjusted EPS increased 14% to $0.57.
- Commercial and residential HVAC businesses saw strong revenue and bookings growth in the high-single digits. Industrial business bookings were up 9%.
- Adjusted operating margins improved in both the climate and industrial segments.
- Guidance for full-year 2017 revenue growth remains at 2-3% organic and adjusted EPS is increased to a range of $4.35 to $4.50.
Sarah is a woman's name. Names are how we refer to individuals to distinguish one person from another. This document contains the name "Sarah" and does not provide any other context or information.
This document provides a summary of Jose Jorge Plascencia Mucino's work experience and qualifications. Over his career, he has held various roles in technical support, help desk support, systems engineering, and network administration. He has over 10 years of experience providing customer support and working with Windows operating systems.
The document discusses various topics related to the courtroom including the mind of the jury, different views of the courtroom, the American jury system, and statistics. It emphasizes taking a step-by-step approach to mastering courtroom techniques, focusing on just a few at a time to avoid feeling overwhelmed. The final sections discuss the importance of experiential learning and preparation, and share a quote about the wisdom that can be learned from dogs by openly expressing wants and needs for love.
Dallas Arcand is a hoop dancer who competed at the World Folkloric Dance Competition in Poland. He took up hoop dancing after being inspired by his cousin's performance. Dallas dances with a group called the Red Earth Dancers, who sometimes perform in schools to educate others about Indigenous culture and traditions. His fancy dance costume contains over 250 feathers and he keeps the hoops in motion through precise movements of his arms, legs, torso and hips.
This document discusses linking and loaders. It covers topics like object file formats (COFF, ELF, a.out), sections and segments, the linking process, dynamic linking using the procedure linkage table and global offset table, and relocation. Key terms discussed include loaders, linkers, sections like .text, .data, .bss, and dynamic linking concepts like position independent code.
Este documento presenta información sobre vertebrados e invertebrados para estudiantes de 3er grado. Explica que los vertebrados como peces, anfibios, reptiles, aves y mamíferos tienen esqueleto con columna vertebral, mientras que los invertebrados como moluscos, artrópodos, cnidarios y gusanos carecen de esqueleto vertebral. Además, describe las características generales de cada grupo.
This document discusses key concepts in ethnographic design research:
1. Ethnography focuses on understanding user practices and social contexts rather than categorizing objects or designs.
2. Surprise can be both desirable and undesirable for designers; it reveals expectations and opens new perspectives.
3. Effective ethnographic methods include shadowing users, simulated use, and apprenticeship to understand contexts and allow for reflection.
4. Video observation captures nuanced behaviors and processes but its use must be carefully considered to avoid influencing the situation. Preparation is important to get the "good stuff."
The 2013 Hyundai Sonata available at Rairdons Hyundai of Bellingham has an eye-catching exterior and comfortable interior. It has various technological features and delivers engaging performance with its fuel efficient 2.4-liter engine. Customers are encouraged to learn more about the 2013 Sonata and visit Rairdons Hyundai of Bellingham to explore their inventory.
Pamplona's town hall directs the locality. The mayor of Pamplona is Enrique Maya. The plenary or full meeting decides matters concerning the locality. Some of the municipality's services include cultural and leisure services run by the municipal library, Navarra's museum, and Larrabide's municipal swimming pool. Protection services are provided by the municipal police and fireman. Supply services include the outdoor and indoor markets at Santo Domingo. Traffic services manage signaling, crosswalks, and bicycle paths. Sanitation services work to clean streets and parks.
Las herramientas para la creación y publicación de contenido didáctico facilitan la transmisión de ideas y el conocimiento de forma digital. Funcionan en Windows y Linux y permiten incluir elementos multimedia como juegos y aplicaciones. Algunas ventajas son que facilitan la publicación rápida de contenido y permiten compartir hipertextos, aunque los maestros deben aprender a usarlas. eXeLearning es una herramienta de código abierto que permite crear contenido educativo sin experiencia en HTML o XML a través de árboles de contenido, elementos multimedia
The document summarizes Christmas traditions in France. It notes that Fete de Saint Nicolas is celebrated on December 6th, La viellle de Noël is celebrated on December 24th, which includes attending midnight mass. Christmas Day is celebrated on December 25th and spent quietly with family, where children open presents. The document also mentions that Jesus's birth is celebrated and believed to have occurred in a farm, and people came from all over the kingdom to see him.
Telling the truth in the sales process is integral to long-term client relationships. Dr. Charles Luke shares a brief overview of why this is important.
This summary provides an overview of the key points about power structures in young adult dystopian narratives discussed in the document:
1) Dystopian societies use Foucauldian modes of discipline like spatial distribution, ceremonial punishment, activity control, and surveillance to maintain power and control over populations.
2) Adolescent protagonists are able to experience and become aware of these oppressive power structures firsthand due to coming from a place of oppression.
3) Specific examples of spatial distribution of populations discussed are the separation of districts in The Hunger Games which keeps groups isolated and pitted against each other.
4) Foucauldian concepts of discipline and their use in dyst
This document provides definitions for commonly used human resources terms in a glossary. It notes that the glossary is developed and continuously updated by the SHRM Knowledge Center to be a reference for HR professionals. Alternative references are also mentioned. Readers are invited to submit additional terms for consideration to be added to the glossary. The glossary then begins listing terms alphabetically from A to Z with their corresponding definitions.
IUCG's Semester Review provides a look back about what our group's accomplishment over the past semester at UMass Amherst's Isenberg School of Management.
Ugi 2015 q2 earnings call presentation v finalAmeriGas
The document provides details on UGI Corporation's Q2 2015 earnings conference call held on May 5, 2015. It includes an overview of the company's financial results, operating performance across different business segments, and strategic initiatives. UGI reported adjusted EPS of $1.23 for Q2 2015, increased its full-year 2015 adjusted EPS guidance range to $2.00-$2.10, and discussed progress on various capital projects and acquisition opportunities.
The document is the transcript from a February 5, 2015 earnings conference call for UGI Corporation. It provides an overview of UGI's financial results for the first quarter of 2015, including adjusted earnings per share of $0.66. Each of UGI's business segments - AmeriGas Propane, UGI International, UGI Utilities, and Midstream & Marketing - are discussed. Weather conditions were warmer than the prior year for most segments. Overall, the company reported solid performance despite the warmer weather and foreign exchange impacts. The presentation concludes with an update on growth initiatives and a reiteration of UGI's adjusted EPS guidance range for fiscal year 2015 of $1.88 to $1.98.
The document provides an earnings presentation for UGI Corporation's Q1 2015 results. It includes a discussion of financial results for each of UGI's business segments, including adjusted EPS of $0.66 compared to $0.71 in Q1 2014. Operational highlights are provided for each segment, noting the impact of warmer weather on volumes. The presentation concludes with an update on Q2 and reaffirmation of the FY2015 adjusted EPS guidance range of $1.88-$1.98.
The document provides details on UGI Corporation's Q3 2014 earnings conference call. It includes:
- A 36% increase in adjusted EPS compared to the prior year period.
- Operational highlights across its business segments including volume growth, margin expansion, and progress on growth initiatives.
- Financial results for each business segment, noting the impact of warmer weather on volumes but margin expansion through pricing.
- Affirmation of the company's adjusted EPS guidance range.
- Announcement of a dividend increase, three-for-two stock split, and details on available liquidity.
This document provides a summary of UGI's financial results for fiscal year 2015 and guidance for fiscal year 2016. Key highlights include record earnings per share for FY2015 despite warmer weather. Growth was driven by acquisitions including Finagaz in France and organic projects. FY2016 guidance forecasts continued earnings growth of 11% driven by projects expanding infrastructure and services.
This document provides a summary of UGI's financial results for fiscal year 2015 and guidance for fiscal year 2016. Key highlights include record earnings per share for FY2015 despite warmer weather. Growth was driven by acquisitions including Finagaz in France and organic projects. FY2016 guidance forecasts continued earnings growth of 11% driven by projects expanding infrastructure and services.
- UGI reported first quarter fiscal 2016 results, with adjusted EPS of $0.64 compared to $0.68 in the prior year period. Results were impacted by significantly warmer weather, partially offset by benefits from midstream and marketing investments and the Finagaz acquisition.
- AmeriGas saw lower volumes due to weather that was nearly 17% warmer than the prior year, but higher unit margins and $16 million in cost reductions partially offset the weather impact.
- UGI International benefited from the Finagaz acquisition but saw mixed weather impacts, while UGI Utilities experienced lower volumes from unusually warm temperatures. Midstream and marketing saw higher gathering margins and peaking activity.
- Management expects growth investments since
- UGI's Q1 2016 earnings were impacted by significantly warmer weather compared to the prior year period, which lowered volumes. However, this was partially offset by benefits from investments in Midstream & Marketing and the acquisition of Finagaz.
- AmeriGas saw lower volumes due to weather that was nearly 17% warmer than the prior year, but achieved higher unit margins and lower operating expenses.
- UGI International saw higher total margin and earnings due to the Finagaz acquisition, partially offset by warmer weather impacts. Integration is progressing on or ahead of schedule.
- Utilities saw lower throughput from warmer weather, but customer additions partially offset this impact. A rate case was filed in Q2 2016.
- UGI Corporation held a conference call on May 8, 2014 to discuss its Q2 2014 earnings results.
- Adjusted EPS for Q2 2014 was $1.90, a 26% increase over the prior year period, and full year 2014 adjusted EPS guidance was increased.
- Results were positively impacted by colder than normal weather in some regions driving higher volumes, as well as growth initiatives and acquisitions. However, operational expenses also increased due to supply issues, distribution challenges, and higher uncollectible accounts during periods of peak demand.
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Oil Search Limited reported its 2015 Half Year Results. Key highlights included record half year production of 14.3 mmboe, nearly triple the production in 1H14. Net profit was up 49% to US$227.5 million due to the full period of LNG and condensate sales from the PNG LNG Project. The interim dividend was tripled to 6 US cents per share and the company maintained its full year production guidance despite lower oil prices.
This document summarizes key points from Broadwind's Q3 2015 earnings conference call:
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- Financial results showed declines in revenue and margins compared to Q3 2014 due to unfavorable tower mix. Liquidity improved with declining working capital and inventory levels projected to decrease further.
UGI Corporation reported financial results for the first quarter of fiscal year 2014, ended December 31, 2013. Adjusted earnings per share increased 21% compared to the prior year period, driven by colder weather, strong operational performance, and strategic milestones including placing a new pipeline into service. All of UGI's business segments experienced higher adjusted operating income compared to the first quarter of fiscal year 2013. UGI reaffirmed its fiscal year 2014 adjusted earnings per share guidance range despite warmer than expected weather at some international operations.
UGI Corporation reported financial results for the first quarter of 2014, with adjusted earnings per share increasing 21% compared to the prior year period. Operational performance was strong across business segments due to colder weather. AmeriGas Propane saw a 19% rise in adjusted EBITDA driven by volume growth and expense control. The Gas Utility benefited from margin growth from new customers and conversions. Midstream & Marketing saw higher margins in gas marketing and electric generation, though power marketing margins declined. UGI reaffirmed full-year 2014 adjusted EPS guidance.
The document provides an overview of UGI Corporation, which distributes energy products including natural gas, propane, butane, and electricity. It discusses UGI's strategy of capitalizing on synergies across its businesses to grow earnings through acquisitions, capital projects, and organic growth. Key takeaways include UGI delivering outstanding shareholder returns through 6-10% annual EPS growth and a 4% annual dividend growth rate, with a track record of disciplined capital deployment and strong free cash flow generation. Business segments like UGI Utilities and UGI Energy Services are positioned for continued growth through infrastructure investments and opportunities from the Marcellus Shale.
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Santos today announced a 2014 underlying net profit of $533 million, up 6 per cent on the previous year.
Full-year highlights
•Production up 6% to 54.1 mmboe
•Sales revenue up 12% to $4 billion
•EBITDAX up 8% to $2,153 million
•Operating cash flow up 13% to $1,843 million
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- Production has returned to normal levels at Abilene and inventory levels increased due to deferred deliveries, which will be consumed later in the year.
- Order backlog remains solid at $174M, providing visibility for the majority of revenue through Q4 2015. Management expects significant new orders in Q2 2015.
The document is Broadwind Energy's investor presentation from May 14, 2015. It summarizes Broadwind's business segments, including towers, gearing, and services. It discusses industry drivers like declining costs of wind energy. Broadwind has improved financial metrics like SG&A costs and EBITDA over recent years. The presentation provides an outlook for 2015 with goals of increasing tower production and expanding gearing and services customers.
The document provides an investor presentation by Broadwind Energy Inc. It includes an overview of Broadwind's business segments including towers, gearing, and services which make up 73%, 17%, and 7% of revenue respectively. It summarizes Broadwind's financial performance over the past 5 years, current order backlog, and objectives to improve profitability in 2015 by selling 2016 tower capacity and expanding gearing sales. Broadwind aims to benefit from the resurgence in US manufacturing by diversifying into industrial markets with its gearing and welding capabilities.
The document is Broadwind Energy's investor presentation from June 2, 2015. It discusses Broadwind's industry positioning in wind energy and other industrial markets. Broadwind produces wind towers, gearing products, and services for wind turbine maintenance. It is executing a plan to diversify its revenue sources and improve profitability. The presentation provides an overview of Broadwind's business segments and financial performance with the goal of demonstrating its strengths and growth opportunities to investors.
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UGI Corporation reported record GAAP and adjusted EPS for Q2 2018. All four of its business units saw higher year-over-year results. Adjusted EPS increased 29% to $1.69 per share compared to $1.31 in Q2 2017. Favorable weather contributed to increased volumes and margins across many of the business units. Tax reform benefits also contributed $0.19 per share to adjusted EPS. AmeriGas saw a 14% increase in adjusted EBITDA due to 10% higher volumes from weather that was 14% colder than the prior year. UGI International benefited from acquisitions, currency rates, and colder weather in its international markets.
UGI Corporation reported first quarter fiscal year 2018 results. Adjusted EPS increased 11% to $1.01 compared to $0.91 in the prior year period, driven by tax law changes and core business operations, partially offset by warmer weather. Individual business unit results were mixed - AmeriGas was flat due to uneven weather, while Midstream & Marketing and Utilities saw earnings gains due to colder weather and growth. International results benefited from acquisitions but were impacted by warmer weather. The company reiterated growth drivers including PennEast pipeline, midstream expansion, utility investments, and AmeriGas cylinder exchange and national accounts growth.
This document summarizes UGI Corporation's annual meeting of shareholders on January 25, 2018. It discusses that 2017 was a year of recognition for UGI, with record financial results and accomplishments across its business segments. UGI's strategy of acquisitions, capital projects, and organic growth has yielded strong investment returns, with 5, 10, and 20-year total shareholder returns above industry averages. UGI is positioned for continued growth by meeting infrastructure needs in Marcellus shale gas and LNG, expanding its utility, propane, and international businesses, and through a planned $1.2 billion of utility capital investments over four years.
UGI reported financial results for FY2017 and provided an outlook for FY2018. Key highlights of FY2017 results included adjusted EPS growth of 12% despite warmer weather, completion of growth projects, and a 30th consecutive year of dividend increases. Business segments like Midstream & Marketing and Utilities saw earnings growth while AmeriGas and UGI International were impacted by warmer weather compared to the prior year. UGI also achieved strategic and operational accomplishments across its business units and is well positioned for continued growth.
UGI Corporation reported its fiscal 2017 third quarter results. Overall results were in line with historical third quarter levels despite warmer than normal weather.
AmeriGas' adjusted EBITDA was $58.4 million, down from $64.6 million last year due to a 4% volume decline from warmer weather. However, unit margins increased despite a 28% rise in propane costs.
UGI International's adjusted income before taxes was $1.8 million, down from $32.2 million last year primarily due to a 6.7% volume decline from 8.1% warmer weather compared to the prior year.
UGI Utilities' income before taxes was $17.5 million, down
UGI reported solid second quarter results despite warmer than normal weather. Earnings per share were $1.24, down from $1.31 in the prior year quarter but above expectations. Each of the company's business units - AmeriGas, UGI International, Midstream & Marketing, and UGI Utilities - experienced warmer weather but reported increased revenues through investments in less weather-dependent operations and a focus on efficiency. For the full year, UGI expects adjusted earnings per share to be at the lower end or slightly below its guidance range of $2.30 to $2.45, an improvement over fiscal year 2016 results.
UGI Corporation reported record results for the first quarter of fiscal year 2017. Adjusted earnings per share increased 42% compared to the prior year period, driven by higher adjusted net income across all four business units. AmeriGas Propane reported a 3.6% increase in retail volumes and $4 million decrease in operating expenses despite warmer weather. UGI International benefited from increased bulk volume due to colder weather. Midstream & Marketing saw higher margins from natural gas and capacity management. Utilities reported a 32.2% increase in core market volumes and margin growth from higher rates. Overall, strong execution and contributions from strategic investments led to the company's best ever first quarter financial performance.
The document summarizes the annual meeting presentation of UGI Corporation. It highlights that 2016 was a record year for UGI despite warm weather, with adjusted EPS 64% higher than 2012. Growth investments positively impacted results. UGI saw strong performance across its diverse business segments. Opportunities exist for continued growth across UGI's utilities, midstream, marketing, and propane distribution operations. The outlook remains positive given infrastructure investment needs and opportunities across its regions and business lines.
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UGI Utilities is Pennsylvania's second largest natural gas distribution company serving over 626,000 customers. It has a constructive regulatory environment and opportunities for growth supported by its proximity to the Marcellus Shale reserves. UGI Utilities achieved record capital investment in 2016 of over $260 million and added approximately 16,000 new customers. It expects to continue strong capital investment to increase system reliability and support growth, growing its rate base and net income 5-7% annually.
UGI reported record fiscal year 2016 earnings despite warm weather. Earnings were driven by contributions from growth initiatives and acquisitions. Looking ahead, UGI expects continued earnings growth of 16% in fiscal year 2017 from ongoing organic growth, strategic investments, and a return to more normal weather. UGI is well positioned for further growth with a strong balance sheet and cash flows.
1) UGI reported third quarter 2016 adjusted earnings per share of $0.23, up from $0.07 in the prior year period. Weather was colder than the prior year across UGI's service territories.
2) AmeriGas achieved strong results due to solid margin management, expense control, and colder weather. Adjusted EBITDA increased 30% year-over-year.
3) UGI International benefited from the acquisition of Finagaz and strong unit margin management, partially offset by integration expenses. Weather was significantly colder than the prior year.
- UGI reported adjusted EPS of $1.24 for Q2 2016, down from $1.26 in Q2 2015 due to significantly warmer weather. Weather was 24-25% warmer than the prior year across UGI's businesses.
- Despite the warm weather, results demonstrated benefits of a diversified portfolio through cost controls and margin management. Guidance was revised to $1.95-2.05 per share.
- Key accomplishments included a rate case filing at UGI Utilities and strong integration of the Finagaz acquisition. Strategic investments continued in midstream infrastructure and the utilities business.
This presentation provides an overview of UGI Corporation, which distributes energy products including natural gas, propane, butane, and electricity. It operates in the United States and Europe through various business segments. The presentation discusses UGI's business model, growth strategy, and financial performance. It also highlights recent acquisitions, expansion projects, and growth opportunities across its utility, energy services, and propane distribution businesses.
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This document is a presentation by Jerry Sheridan, President and CEO of AmeriGas Partners, LP, given at the J.P. Morgan Global High Yield & Leveraged Finance Conference on February 24-26, 2014. The presentation provides an overview of AmeriGas, including its size and market position, competitive advantages, geographic and end-use diversity, history of margin management, and strategic growth initiatives. AmeriGas is focused on growing through acquisitions, its AmeriGas Cylinder Exchange business, and national commercial accounts while maintaining its conservative financial profile and track record of distribution growth.
Jerry Sheridan, President and CEO of AmeriGas Partners, LP, presented at the Wells Fargo Pipeline, MLP and Energy Symposium on December 10, 2013. In his presentation, Sheridan outlined AmeriGas' competitive advantages as the largest propane distributor in the U.S., including its nationwide geographic coverage and scale benefits. He also discussed the company's strategic growth initiatives like national accounts and cylinder exchange programs, which are expected to drive earnings growth of 3-4% annually. Sheridan emphasized AmeriGas' track record of margin management and distribution growth, supported by a strong balance sheet.
This presentation provides an overview of UGI International, a subsidiary of UGI Corporation. UGI International operates propane and butane distribution businesses across 16 countries in Europe. The presentation discusses UGI International's history of acquisitions in Europe since 1999, its current operations across various countries, and its financial performance in recent years. It also outlines several of UGI International's growth opportunities, including expanding in existing markets through acquisitions or conversions from heating oil to propane, and potentially entering new markets.
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MUTUAL FUNDS (ICICI Prudential Mutual Fund) BY JAMES RODRIGUESWilliamRodrigues148
Mutual funds are investment vehicles that pool money from multiple investors to purchase a diversified portfolio of stocks, bonds, or other securities. They are managed by professional portfolio managers or investment companies who make investment decisions on behalf of the fund's investors.
2. August 4, 2015 2
This presentation contains certain forward-looking statements that management
believes to be reasonable as of today’s date only. Actual results may differ
significantly because of risks and uncertainties that are difficult to predict and many
of which are beyond management’s control. You should read UGI’s Annual Report on
Form 10-K and quarterly reports on Form 10-Q for a more extensive list of factors
that could affect results. Among them are adverse weather conditions, cost volatility
and availability of all energy products, including propane, natural gas, electricity and
fuel oil, increased customer conservation measures, the impact of pending and
future legal proceedings, domestic and international political, regulatory and
economic conditions in the United States and in foreign countries, including the
current conflicts in the Middle East and those involving Russia, and currency
exchange rate fluctuations (particularly the euro), the timing of development of
Marcellus Shale gas production, the timing and success of our acquisitions,
commercial initiatives and investments to grow our business, and our ability to
successfully integrate acquired businesses and achieve anticipated synergies. UGI
undertakes no obligation to release revisions to its forward-looking statements to
reflect events or circumstances occurring after today.
About This Presentation
3. August 4, 2015
John Walsh
President & CEO, UGI
Kirk Oliver
Chief Financial Officer, UGI
Jerry Sheridan
President & CEO, AmeriGas
4. August 4, 2015 4
$0.03
$0.10
$0.00
$0.04
$0.08
$0.12
Q3-15 Adjusted EPS Q3-14 Adjusted EPS
• Q3-15 GAAP EPS was $0.05
• Q3-15 Adjusted EPS includes $0.06 loss related to impact of the Totalgaz
acquisition
• Expect FY Adjusted EPS at lower end of updated guidance of $2.00 – $2.10
• In-line with last year’s record performance
* See appendix for Adjusted EPS reconciliation.
Adjusted EPS*
2015 Q3 Results
5. August 4, 2015 5
Market Update
• Demand for natural gas continues to grow
• Pipeline capacity will remain constrained in medium-term
due to “infrastructure gap”
• Conversion activity remains strong as Gas Utility has
added ~14,000 new heating customers YTD
• AmeriGas National Accounts volume continues to ramp
up
• Low cost good for business and industry
• European LPG cost down over 50% in past 24 months
• Domestic LPG cost down over 60% in June y/y
7. August 4, 2015 7
2015 Q3 Financial Results
Three Months Ended
June 30,
2015 2014
Adjusted diluted earnings per share:
UGI Corporation earnings per share - diluted $ 0.05 $ 0.12
Net after-tax (gains) losses on commodity derivative instruments not
associated with current period transactions (1) (2) (0.02) (0.02)
Adjusted diluted earnings per share $ 0.03 $ 0.10
Totalgaz impact:
Seasonal Impact of Operations $ (0.01) $ -
Acquisition-related expenses (3) (0.05) -
Total $ (0.06) $ -
Adjusted diluted earnings per share excluding impact of Totalgaz acquisition $ 0.09 $ 0.10
(2) Includes impact of rounding.
(1) Income taxes associated w ith pre-tax adjustments determined based on using business unit statutory tax rates.
(3) Includes $0.03 loss related to the breaking of an interest rate sw ap agreement in connection w ith the early extinguishment of debt.
8. August 4, 2015 8
-18.5%
-23.7%
-2.0%
-22.2%
-9.3%
-19.8%
-15.5%
-6.3%
-25.0%
-20.0%
-15.0%
-10.0%
-5.0%
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
2015 2014
Antargaz Flaga Gas UtilityAmeriGas
COLDERWARMER
* HDD = Percent change in Heating Degree Days versus prior year
FY Q3 Weather vs. Normal
(10%) (5%) 16% (17%) HDDHDDHDDHDD
9. August 4, 2015 9
7.2
(5.7)
(0.2)
-$2
$0
$2
$4
$6
$8
$10
2014 Q3 Retail
Propane
Wholesale
/ Ancillary
Sales &
Svces
Misc.
Income
Opex &
Other
D&A 2015 Q3
Operating Income, $ MM
(0.1)
(2.3)
Opex includes all operating expenses, net of miscellaneous income. Excludes impact of mark-to-
market changes in commodity hedging instruments. Total Margin represents total revenues less
total cost of sales.
AmeriGas
MARGIN
Warmer weather than the
prior year
Unit margins up
MISC INCOME
Lower finance charges
OPEX
Lower vehicle fuel
expenses
Lower uncollectible
accounts
Total Margin
1.9 0.8
10. August 4, 2015 10
UGI International
MARGIN
Warmer weather than prior year
at Antargaz
Higher local currency gross
margin
Weaker Euro and British Pound
Sterling
OPEX
Expenses related to acquisition
of Totalgaz
Weaker Euro and British Pound
Sterling
INTEREST EXPENSE
Interest rate derivative
settlement and early
extinguishment of debt related
to acquisition of Totalgaz
(1.0)
(16.9)
-$18
-$16
-$14
-$12
-$10
-$8
-$6
-$4
-$2
$0
2014 Q3 Total
Margin
Opex &
Other
Other
Operating
Income
D&A Interest
Expense
2015 Q3
Income Before Taxes, $ MM
0.4
(4.5)
(0.3)
(8.9)
(2.6)
• LPG cost of sales f/x hedging program mitigates the impact of foreign exchange
changes on UGI earnings; FY15 hedge program average f/x rate is ~ $1.32 / €1.
• Opex includes all operating expenses, net of miscellaneous income.
• Total Margin represents total revenues less total cost of sales.
11. August 4, 2015 11
Gas Utility
MARGIN
Warmer Weather
Customer Growth
OPEX
Higher distribution system
maintenance
Higher general and
administrative expenses
Higher depreciation
expense
OTHER
Incremental margin from
construction services
* Opex includes all operating expenses, net of miscellaneous income.
Total Margin represents total revenues less total cost of sales.
7.3
5.6
$0
$2
$4
$6
$8
2014 Q3 Total
Margin
Opex &
Other
Other
Operating
Income
D&A Int.
Expense
2015 Q3
Income Before Taxes, $ MM
(1.0)
(1.6)
(1.1) 0.3
1.7
12. August 4, 2015 12
25.6
$0
$5
$10
$15
$20
$25
$30
2014 Q3 Natural Gas
and Retail
Power
Marketing
Capacity
Management
Retail Power Opex & Other D&A 2015 Q3
Income Before Taxes, $ MM
Midstream & Marketing
MARGIN
Higher natural gas
and retail power
margin
Lower capacity
management margin
due to lower volatility
OPEX
Higher compensation
expenses
Lower business
development, and
uncollectible accounts
expense
Higher depreciation
expense
Total Margin
* Excludes impact of mark-to-market changes in commodity hedging instruments.
Total Margin represents total revenues less total cost of sales.
3.0
(7.7)
(2.1) 0.2 (0.9) 18.1
13. August 4, 2015 13
Liquidity and Guidance
Total AmeriGas
UGI
International Utilities
Midstream
& Marketing
Corporate &
Other
Cash on Hand $385.9 $16.2 $275.8 $16.5 $16.3 $61.1
Revolving Credit Facilities $525.0 $68.6 $300.0 $240.0 NA
Accounts Receivable Facility NA NA NA 42.9 NA
Drawn on Facilities 43.6 0.0 2.7 20.0 NA
Letters of Credit 64.7 1.5 2.0 0.0 NA
Available Facilities $416.7 $67.1 $295.3 $262.9
Available Liquidity $432.9 $342.8 $311.8 $279.2
$ MM
15. August 4, 2015 15
Q3 Adjusted EBITDA
* See appendix for Adjusted EBITDA reconciliation
$49
$55
$0
$20
$40
$60
Q3 2015 Q3 2014
Adjusted EBITDA*, $ Millions
16. August 4, 2015 16
• Weather was 18% warmer than normal and
10% warmer than the prior year while retail
volume was 6% lower than the prior year
• Cylinder exchange volume declined 2% as
the quarter was the second wettest on
record
• Despite impact of weather, National
Accounts volume up substantially
Operational Highlights
17. August 4, 2015 17
• Unit margin expanded $0.04 as propane
prices were 56% lower than the prior year
• Operating expenses 1% lower than last year
as vehicle fuel was 30% less expensive
• YTD completed 7 acquisitions
• FY15 guidance range $635-645mm
Operational Highlights
19. August 4, 2015 19
Operational Highlights
Totalgaz Acquisition
• Closed on May 29, 2015
• Business focused on integration
LNG Peaking Activities
• Dramatic increase in peak demand
• Transport, Marine, and Distributed Generation are new demand segments
• Announced $60 million Manning LNG facility in May 2015
Continued Progress on Pipeline Projects
Midstream & Marketing
• PennEast Partnership expects to file with the FERC in September 2015
• Sunbury pipeline filed FERC application on on July 1, 2015
Utilities
• Mechanical completion of project to serve 1000MW Panda Energy plant
• Invenergy project in early stages
Foundation for Future Growth
• Approximately $600 million in active or recently completed capital projects
20. August 4, 2015 20
In Conclusion
• Strong YTD performance demonstrates value of
balanced portfolio
• Focused on delivering outstanding customer
service and operational efficiency
• Significant progress on organic investments and
M&A
• Continued opportunities due to growth of natural
gas demand and the infrastructure gap
23. August 4, 2015 23
Pipeline Projects
Expected In-
Service Date
(Calendar Year)
Capital
Cost
Peaking Projects
International Acquisitions
Description
$80mm
PennEast $200mm1 Nov 2017 117 miles; 1 bcf/day
Sunbury $160mm Early 2017 35 miles; 200,000 Dth/day
Auburn Loop 9 mile loop; 150,000 Dth/dayFall 2015
Union Dale Complete 6 miles; 100,000 Dth/day
Manning LNG $60mm Early 2017 10,000 Dth/day
Temple LNG $10mm Fall 2015 10,000 Dth/day
Totalgaz Acquisition €423mm Complete Doubles French Distribution
Total Hungary Acquisition €13-17mm Sept 2015 Doubles Hungary Distribution
1 Total project is $1bn. UGI is 20% equity partner.
Growth Summary
Utility Large Customer Additions $85mm 2016-2017 Power Generation
~$600mm in Identified Capital Projects
24. August 4, 2015 24
UGI Supplemental Information: Footnotes
Management uses "adjusted net income attributable to UGI" and "adjusted diluted earnings per share," both of
which are non-GAAP financial measures, when evaluating UGI's overall performance. Adjusted net income
attributable to UGI is net income attributable to UGI after excluding net after-tax gains and losses on commodity
derivative instruments not associated with current-period transactions and items that management regards as highly
unusual and not expected to recur. Volatility in net income at UGI can occur as a result of gains and losses on
derivative instruments not associated with current period transactions but included in earnings in accordance with
U.S. generally accepted accounting principles ("GAAP"). Midstream & Marketing records gains and losses on
commodity derivative instruments not associated with current-period transactions in cost of sales or revenues for
all periods presented. Effective October 1, 2014, UGI International determined that on a prospective basis it would
not elect cash flow hedge accounting for its commodity derivative transactions and also de-designated its then-
existing commodity derivative instruments accounted for as cash flow hedges. Also effective October 1, 2014,
AmeriGas Propane de-designated its remaining commodity derivative instruments accounted for as cash flow
hedges. Previously, AmeriGas Propane had discontinued cash flow hedge accounting for all commodity derivative
instruments entered into beginning April 1, 2014.
Non-GAAP financial measures are not in accordance with, or an alternative to, GAAP and should be considered in
addition to, and not as a substitute for, the comparable GAAP measures. Management believes that these non-
GAAP measures provide meaningful information to investors about UGI’s performance because they eliminate the
impact of (1) gains and losses on commodity derivative instruments not associated with current-period transactions
and (2) those items that management regards as highly unusual in nature and not expected to recur.
The following table reconciles consolidated net income attributable to UGI, the most directly comparable GAAP
measure, to adjusted net income attributable to UGI, and reconciles diluted earnings per share, the most
comparable GAAP measure, to adjusted diluted earnings per share, to reflect the adjustments referred to above.
25. August 4, 2015 25
Adjusted Net Income and EPS
Three Months Ended N
June 30,
2015 2014
Adjusted net income attributable to UGI Corporation:
Net income attributable to UGI Corporation 9.6$ 20.6$
Net after-tax (gains) losses on commodity derivative
instruments not associated with current period transactions (1) (4.9) (3.5)
Adjusted net income attributable to UGI Corporation 4.7$ 17.1$
Three Months Ended N
June 30,
2015 2014
Adjusted diluted earnings per share:
UGI Corporation earnings per share - diluted 0.05$ 0.12$
Net after-tax (gains) losses on commodity derivative
instruments not associated with current period transactions (1) (2) (0.02) (0.02)
Adjusted diluted earnings per share 0.03$ 0.10$
(1) Income taxes associated with pre-taxadjustments determined based on using business unit statutory taxrates.
(2) Includes impact of rounding.
26. August 4, 2015 26
AmeriGas Supplemental Information: Footnotes
The enclosed supplemental information contains a reconciliation of earnings before interest expense, income
taxes, depreciation and amortization ("EBITDA") and Adjusted EBITDA to Net Income.
EBITDA and Adjusted EBITDA are not measures of performance or financial condition under accounting
principles generally accepted in the United States ("GAAP"). Management believes EBITDA and Adjusted
EBITDA are meaningful non-GAAP financial measures used by investors to compare the Partnership's operating
performance with that of other companies within the propane industry. The Partnership's definitions of EBITDA
and Adjusted EBITDA may be different from those used by other companies.
EBITDA and Adjusted EBITDA should not be considered as alternatives to net income (loss) attributable to
AmeriGas Partners, L.P. Management uses EBITDA to compare year-over-year profitability of the business
without regard to capital structure as well as to compare the relative performance of the Partnership to that of other
master limited partnerships without regard to their financing methods, capital structure, income taxes or historical
cost basis. Management uses Adjusted EBITDA to exclude from AmeriGas Partners’ EBITDA gains and losses
that competitors do not necessarily have to provide additional insight into the comparison of year-over-year
profitability to that of other master limited partnerships. In view of the omission of interest, income taxes,
depreciation and amortization from EBITDA and Adjusted EBITDA, management also assesses the profitability of
the business by comparing net income attributable to AmeriGas Partners, L.P. for the relevant years. Management
also uses EBITDA to assess the Partnership's profitability because its parent, UGI Corporation, uses the
Partnership's EBITDA to assess the profitability of the Partnership, which is one of UGI Corporation’s business
segments. UGI Corporation discloses the Partnership's EBITDA in its disclosures about its business segments as
the profitability measure for its domestic propane segment.
27. August 4, 2015 27
AmeriGas Partners EBITDA Reconciliation
2015 2014
EBITDA and Adjusted EBITDA:
Net (loss) income attributable to AmeriGas Partners, L.P. (25,578)$ (37,761)$
Income taxexpense 802 847
Interest expense 40,274 41,328
Depreciation 37,370 37,069
Amortization 10,666 10,788
EBITDA 63,534 52,271
(Subtract net gains) add net losses on commodity derivative
instruments not associated with current-period transactions (14,813) 2,781
Noncontrolling interest in net gains (losses) on commodity
derivative instruments not associated with current-period
transactions 150 (28)
Adjusted EBITDA 48,871$ 55,024$
Three Months Ended
June 30,
28. August 4, 2015 28
AmeriGas Partners Adj. EBITDA Guidance Reconciliation
Forecast
Fiscal Year
Ending
September 30,
2015
Adjusted net income attributable to AmeriGas Partners, L.P. (estimate) (d) 280,000$
Interest expense (estimate) 163,000
Income taxexpense (estimate) 4,000
Depreciation (estimate) 151,000
Amortization (estimate) 42,000
Adjusted EBITDA (e) 640,000$
(d)
(e) Represents the midpoint of Adjusted EBITDA guidance range for fiscal 2015.
Represents estimated net income attributable to AmeriGas Partners, L.P. after adjusting for gains and
losses on commodity derivative instruments not associated with current-period transactions. It is
impracticable to determine actual gains and losses on commodity derivative instruments not
associated with current-period transactions that will be reported in GAAP net income as such gains
and losses will depend upon future changes in commodity prices for propane which cannot be
forecasted.