ugi-20200803

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

Pursuant to Section 13 or 15(d)

of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 3, 2020

(Exact Name of Registrant as Specified in Charter)



Pennsylvania	1-11071	23-2668356
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

460 North Gulph Road, King of Prussia, PA 19406

(Address of Principal Executive Offices) (Zip Code)

Registrant’s Telephone Number, Including Area Code: 610 337-7000

Former Name or Former Address, if Changed Since Last Report

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:


☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)


☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)


☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))


☐			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class:	Trading Symbol(s):	Name of each exchange on which registered:
Common Stock, without par value	UGI	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b of this chapter).


Emerging growth company			☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On August 3, 2020, UGI Corporation (the “Company”) issued a press release announcing financial results for the Company for the fiscal quarter ended June 30, 2020. A copy of the press release is furnished as Exhibit 99.1 to this report and is incorporated herein by reference.

Item 7.01 Regulation FD Disclosure.

On August 4, 2020, the Company will hold a live Internet Audio Webcast of its conference call to discuss its financial results for the fiscal quarter ended June 30, 2020.

Presentation materials containing certain historical and forward-looking information relating to the Company (the “Presentation Materials”) have been made available on the Company’s website. A copy of the Presentation Materials is furnished as Exhibit 99.2 to this report and is incorporated herein by reference in this Item 7.01. All information in Exhibit 99.2 is presented as of the particular dates referenced therein, and the Company does not undertake any obligation to, and disclaims any duty to, update any of the information provided.

In accordance with General Instruction B.2 of Form 8-K, the information in this report, including Exhibits 99.1 and 99.2, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, and will not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in that filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits. The following exhibits are being furnished herewith:


99.1			Press Release of UGI Corporation dated August 3, 2020.
99.2			Presentation of UGI Corporation dated August 4, 2020.
101.INS			XBRL Instance - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document
101.SCH			XBRL Taxonomy Extension Schema
101.CAL			XBRL Taxonomy Extension Calculation Linkbase
101.DEF			XBRL Taxonomy Extension Definition Linkbase
101.LAB			XBRL Taxonomy Extension Label Linkbase
101.PRE			XBRL Taxonomy Extension Presentation Linkbase
104			Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.



	UGI Corporation

August 4, 2020	By:	/s/ Ted J. Jastrzebski
	Name:	Ted J. Jastrzebski
	Title:	Chief Financial Officer

UGI Reports Strong Third Quarter Results and Increases Fiscal 2020 Guidance

VALLEY FORGE, PA - UGI Corporation (NYSE: UGI) today reported financial results for the fiscal quarter ended June 30, 2020.

•Q3 GAAP EPS of $0.41 and adjusted EPS of $0.08 per diluted share compared to GAAP EPS of $(0.01) and adjusted EPS of $0.13 per diluted share in the prior-year period; year-to-date GAAP EPS of $2.49 and adjusted EPS of $2.81 per diluted share compared to GAAP EPS of $1.73 and adjusted EPS of $2.38 per diluted share in the prior-year period.

^•Q3 reportable segments earnings before interest expense and income taxes¹ ("EBIT") of $80.4 million compared to $52.6 million in the prior-year period.

•Colder-than-normal weather experienced by UGI's domestic businesses and disciplined expense management partially offset the negative earnings impact of the COVID-19 pandemic driven primarily by decreased demand from commercial customers.

•On August 3, 2020, UGI Utilities filed a joint petition seeking Pennsylvania Public Utility Commission approval of a settlement of its rate case filed in January 2020. Pending approval, the settlement would permit a two-step, $20 million annual distribution rate increase beginning January 1, 2021 and future rate recovery of defined COVID-19 related costs.

•As of June 30, 2020, UGI Corporation had available liquidity of $1.6 billion compared to $1.2 billion in the quarter ended March 31, 2020.

^•Increased Fiscal 2020 adjusted EPS guidance to a range of $2.45 - $2.55² per share due to strong third quarter performance and tax benefits, inclusive of the anticipated negative impact of the COVID-19 pandemic. The tax benefits are expected to contribute an incremental $0.10 per share to the updated EPS guidance range.

•On June 25, 2020, UGI released its second ESG report and announced ambitious targets at UGI Utilities to reduce operational fugitive methane emissions by 92% and reduce greenhouse gas emissions by over 8 million metric tons by 2030.

•On July 9, 2020, UGI Energy Services, LLC acquired GHI Energy, a Houston-based renewable natural gas company, further expanding UGI's renewable portfolio for future growth.

•On July 21, 2020, UGI Energy Services, LLC entered into an agreement to sell its 5.97% ownership interest in the Conemaugh coal-fired generation station. In Fiscal 2019, emissions from Conemaugh accounted for over 30% of UGI Corporation's total Scope I (direct) emissions.

"We are pleased to deliver very strong third quarter results despite the challenges that the COVID-19 pandemic placed on our operations," said John L. Walsh, President and Chief Executive Officer of UGI Corporation. "Before I comment on our earnings, it is important to note that many of our customers, employees, and communities are facing unprecedented challenges as the world struggles with both a global pandemic and the fight to end systemic racism. The pandemic changed the way we do business, but we adjusted quickly to safeguard the health and safety of our

employees, customers, and communities. We remain focused on taking all precautions and continue to do our part in the fight against COVID-19. We also remain committed to being a positive force in addressing the impact of systemic racism in our society.

"Throughout our history, UGI has been guided by its core values. The events of the past few months have highlighted two of these core values, respect and integrity. In our recently published ESG report, we were proud to announce that in addition to our current community support in critical areas such as childhood literacy, health and wellness for families, food insecurity, and emergency services, UGI will commit additional funds and company resources in 2020 to partner organizations in our communities to combat racial inequality and systemic racism. We recognize our critical responsibility to the communities we serve and remain committed to being a trusted partner for all of our stakeholders.

"UGI delivered adjusted earnings per share of $0.08 in the quarter and demonstrated the resiliency of our businesses. The very solid quarter was driven by higher volumes as a result of colder weather in the U.S., sharply higher sales from AmeriGas' cylinder exchange program, disciplined expense management, and continued contributions from our growth drivers and recent investments. These factors offset some of the headwinds from the COVID-19 pandemic. As a result of the strong third quarter performance, we are increasing our fiscal 2020 guidance to a range of $2.45 - $2.55 per share, inclusive of the negative impact from COVID-19 and positive tax benefits from the CARES Act and other tax law changes.

"Our businesses continued to make progress on our key initiatives. AmeriGas and UGI International remain on pace to deliver $30 million and €5 million, respectively, in savings from the LPG transformation initiatives. Earlier today UGI Utilities filed a settlement agreement that would increase our base rates by $20 million. UGI Appalachia continues to deliver volume growth versus the prior year. Within the past few weeks, UGI Energy Services announced two important transactions, the GHI renewable natural gas acquisition and the Conemaugh divestiture, that position us to be a leading provider of energy solutions that meet the environmental and social needs of our customers and communities.

"Lastly, we want to reiterate that the health, well-being and safety of our employees, customers, and communities remains our top priority" Mr. Walsh concluded.

KEY DRIVERS OF THIRD QUARTER RESULTS

•AmeriGas: Retail volume decreased 3.2% despite weather that was 14.5% colder than the prior year largely a result of the negative impact from the COVID-19 pandemic on commercial and motor fuel volumes, including National Accounts, partially offset by Cylinder Exchange volumes that increased nearly 30.0%; lower operating and administrative expenses due to disciplined expense management and progress on the LPG transformation initiatives; Q3 FY20 EBIT of $18.8 million compared to a loss before interest expense and income tax of $1.2 million in the prior-year period

•UGI International: Retail volume decreased 22.0% largely as a result of weather that was 20.8% warmer than the prior year, the impacts of COVID-19 principally on retail and wholesale volumes, and the termination of a low margin autogas contract in Italy. These volume losses were partially offset by higher average LPG unit margins, disciplined expense management and progress on the LPG transformation initiatives; Q3 FY20 EBIT of $20.3 million compared to $28.7 million in the prior-year period

•Midstream & Marketing: Higher natural gas gathering margin attributable to UGI Appalachia; lower retail commodity margin largely related to lower volumes attributable to COVID-19; Q3 FY20 EBIT of $20.4 million compared to $4.3 million in the prior-year period

•UGI Utilities: Core market volumes increased 27.8% due to weather that was 54.4% colder than the prior-year period; Q3 FY20 EBIT of $20.9 million compared to $20.8 million in the prior-year period

EARNINGS CALL AND WEBCAST

UGI Corporation will hold a live Internet Audio Webcast of its conference call to discuss third quarter earnings and other current activities at 9:00 AM ET on Tuesday, August 4, 2020. Interested parties may listen to the audio webcast both live and in replay on the Internet at http://www.ugicorp.com/investor-relations/events-and-presentations/default.aspx or at the company website https://www.ugicorp.com under Investor Relations. A telephonic replay will be available from 12:00 PM ET on August 4th through 11:59 PM ET on August 11th. The replay may be accessed at (800) 585-8367, and internationally at 1-416-621-4642, conference ID 3476612.

CONTACT INVESTOR RELATIONS

Brendan Heck, ext. 6608

Alanna Zahora, ext. 1004

Shelly Oates, ext. 3202

UGI Corporation is a distributor and marketer of energy products and services. Through subsidiaries, UGI operates natural gas and electric utilities in Pennsylvania, distributes LPG both domestically (through AmeriGas) and internationally (through UGI International), manages midstream energy assets in Pennsylvania, Ohio, and West Virginia and electric generation assets in Pennsylvania, and engages in energy marketing in eleven states, the District of Columbia and internationally in France, Belgium, the Netherlands and the UK.

Comprehensive information about UGI Corporation is available on the Internet at https://www.ugicorp.com.

USE OF NON-GAAP MEASURES

Management uses "adjusted earnings per share," a non-GAAP financial measure, when evaluating UGI's overall performance. Management believes that this non-GAAP measure provides meaningful information to investors about UGI’s performance because it eliminates the impact of (1) gains and losses on commodity and certain foreign currency derivative instruments not associated with current-period transactions and (2) other significant discrete items that can affect the comparison of period-over-period results. Volatility in net income at UGI can occur as a result of gains and losses on commodity and certain foreign currency derivative instruments not associated with current-period transactions but included in earnings in accordance with U.S. generally accepted accounting principles ("GAAP").

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.

Tables on the last page reconcile net income attributable to UGI Corporation, the most directly comparable GAAP measure, to adjusted net income attributable to UGI Corporation, and diluted earnings per share, the most comparable GAAP measure, to adjusted diluted earnings per share, to reflect the adjustments referred to above.

¹ Reportable segments earnings before interest expense and income taxes represents an aggregate of our segment level EBIT as determined in accordance with GAAP.

² Because we are unable to predict certain potentially material items affecting diluted earnings per share on a GAAP basis, principally mark-to-market gains and losses on commodity and certain foreign currency derivative instruments we cannot reconcile fiscal year 2020 adjusted diluted earnings per share, a non-GAAP measure, to diluted earnings per share, the most directly comparable GAAP measure, in reliance on the “unreasonable efforts” exception set forth in SEC rules.

USE OF FORWARD-LOOKING STATEMENTS

This press release contains statements, estimates and projections that are forward-looking statements (as defined in Section 21E of the Securities and Exchange Act of 1934, as amended). Management believes that these are 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 its Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2020 for a more extensive list of factors that could affect results. Among them are adverse weather conditions and the seasonal nature of our business, 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, liability for uninsured claims and for claims in excess of insurance coverage, 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 the withdrawal of the United Kingdom from the European Union, and foreign currency exchange rate fluctuations (particularly the euro), the timing of development of Marcellus Shale gas production, the availability, timing and success of our acquisitions, commercial initiatives and investments to grow our business, our ability to successfully integrate acquired businesses and achieve anticipated synergies, the interruption, disruption, failure, malfunction, or breach of our information technology systems, including due to cyber-attack, the inability to complete pending or future energy infrastructure projects, our ability to achieve the operational benefits and cost efficiencies expected from the completion of pending and future transformation initiatives at our business units, and uncertainties related to the global pandemic, including the duration and/or impact of the COVID-19 pandemic.

SEGMENT RESULTS ($ in millions, except where otherwise indicated)


For the fiscal quarter ended June 30,	2020			2019			Increase (Decrease)
Revenues	$	450.9		$	478.7		$	(27.8)	(5.8)	%
Total margin (a)	$	273.0		$	268.4		$	4.6	1.7	%
Operating and administrative expenses	$	209.7		$	232.3		$	(22.6)	(9.7)	%
Operating income (loss)/earnings (loss) before interest expense and income taxes	$	18.8		$	(1.2)		$	20.0	N.M.
Retail gallons sold (millions)	182.4			188.5			(6.1)		(3.2)	%
Heating degree days - % colder than normal	14.5		%	—		%
Capital expenditures	$	30.0		$	21.0		$	9.0	42.9	%

•Retail gallons sold decreased 3.2%, principally reflecting the effects of COVID-19, structural conservation and other residual volume loss.

•Total margin increased $4.6 million primarily attributable to higher average retail unit margins ($11.9 million), including higher margin from the cylinder exchange program, partially offset by the decrease in retail volumes sold ($7.2 million).

•Operating and administrative expenses decreased $22.6 million reflecting progress on the LPG transformation initiatives and $10.0 million of lower litigation expense. LPG transformation savings primarily reflect lower employee compensation and benefits-related costs ($7.8 million) and decreased vehicle operating and maintenance expenses ($3.5 million).

•Operating income and earnings before interest expense and income taxes each increased $20.0 million reflecting the higher total margin and lower operating and administrative expenses, partially offset by lower customer late payment fees in response to COVID-19.


For the fiscal quarter ended June 30,	2020			2019			Decrease
Revenues	$	371.5		$	486.6		$	(115.1)	(23.7)	%
Total margin (a)	$	172.9		$	203.1		$	(30.2)	(14.9)	%
Operating and administrative expenses (a)	$	127.6		$	151.0		$	(23.4)	(15.5)	%
Operating income	$	17.5		$	27.5		$	(10.0)	(36.4)	%
Earnings before interest expense and income taxes	$	20.3		$	28.7		$	(8.4)	(29.3)	%
LPG retail gallons sold (millions)	137.1			175.7			(38.6)		(22.0)	%
Heating degree days - % (warmer) colder than normal	(12.3)		%	10.8		%
Capital expenditures	$	20.0		$	24.1		$	(4.1)	(17.0)	%

UGI International base-currency results are translated into U.S. dollars based upon exchange rates experienced during the reporting periods. Differences in these translation rates affect the comparison of line item amounts presented in the table above. The functional currency of a significant portion of our UGI International results is the euro and, to a much lesser extent, the British pound sterling. During the 2020 and 2019 three-month periods, the average unweighted euro-to-dollar translation rates were approximately $1.10 and $1.12, respectively, and the average unweighted British pound sterling-to-dollar translation rates were approximately $1.24 and $1.28, respectively.

•Retail volume decreased 22.0% principally due to weather that was 12.3% warmer than normal and 20.8% warmer than the prior-year period.

•Average propane wholesale selling prices in northwest Europe were approximately 34% lower than the prior-year period.

•Total margin decreased $30.2 million compared to the prior-year period reflecting the decrease in total volumes, the translation effects of the weaker euro (approximately $5 million), and lower margins from energy marketing. The effects of these factors were partially offset by higher average LPG unit margins reflecting margin management efforts and lower LPG product costs.

•The $23.4 million decrease in operating and administrative expenses largely reflects disciplined expense management and progress on the LPG transformation initiatives, decreased costs attributable to lower volumes, lower compensation and employee benefits-related costs, and the translation effects of the weaker euro.

•Operating income decreased $10.0 million compared to the prior-year period primarily due to the decrease in total margin partially offset by lower operating and administrative expenses.

•Earnings before interest expense and income taxes decreased $8.4 million compared to the prior-year period due to the lower operating income partially offset by higher other non-operating income.

Midstream & Marketing


For the fiscal quarter ended June 30,	2020			2019			Increase (Decrease)
Revenues	$	222.5		$	267.3		$	(44.8)	(16.8)	%
Total margin (a)	$	63.3		$	41.9		$	21.4	51.1	%
Operating and administrative expenses	$	31.2		$	27.4		$	3.8	13.9	%
Operating income	$	12.8		$	2.7		$	10.1	374.1	%
Earnings before interest expense and income taxes	$	20.4		$	4.3		$	16.1	374.4	%
Heating degree days - % colder (warmer) than normal	21.4		%	(14.5)		%
Capital expenditures	$	15.2		$	36.4		$	(21.2)	(58.2)	%

•Temperatures were 21.4% colder than normal and 43.0% colder than the prior-year period.

•Total margin increased $21.4 million reflecting higher natural gas gathering margin ($24.6 million) largely attributable to incremental margins from UGI Appalachia and, to a much lesser extent, higher capacity management margin ($2.4 million). The effect of these increases was partially offset by lower retail commodity margin largely related to lower commercial volumes attributable to COVID-19, lower services-related margin and decreased electric generation margin compared to the prior-year period.

•Operating and administrative expenses increased $3.8 million largely due to UGI Appalachia.

•Operating income increased $10.1 million primarily due to UGI Appalachia.

•Earnings before interest expense and income taxes increased due to the higher operating income and equity income from the Pennant system, which was acquired as part of the UGI Appalachia Acquisition.


For the fiscal quarter ended June 30,	2020			2019			Increase (Decrease)
Revenues	$	179.1		$	163.9		$	15.2	9.3	%
Total margin (a)	$	110.2		$	102.0		$	8.2	8.0	%
Operating and administrative expenses	$	61.7		$	58.5		$	3.2	5.5	%
Operating income	$	20.9		$	20.4		$	0.5	2.5	%
Earnings before interest expense and income taxes	$	20.9		$	20.8		$	0.1	0.5	%
Gas Utility system throughput - billions of cubic feet
Core market	11.5			9.0			2.5		27.8	%
Total	60.6			59.1			1.5		2.5	%
Gas Utility heating degree days - % colder (warmer) than normal	12.6		%	(27.1)		%
Capital expenditures	$	68.3		$	84.5		$	(16.2)	(19.2)	%

•Gas Utility service territory experienced temperatures that were 12.6% colder than normal and 54.4% colder than the prior-year period.

•Core market volumes increased due to the colder weather, customer growth and higher average use per customer, partially offset by volume reductions attributable to COVID-19.

•Total Gas Utility distribution throughput increased 1.5 bcf reflecting higher core market volumes and higher large firm delivery service volumes, partially offset by lower interruptible delivery service volumes.

•Total margin increased $8.2 million reflecting higher total margin from Gas Utility core market customers ($14.6 million) partially offset by an unallocated negative surcharge revenue adjustment ($3.3 million) in the 2019 three-month periods as a result of a PA PUC Order related to the Tax Cuts and Jobs Act ("TCJA").

•Operating and administrative expenses increased $3.2 million reflecting increases in uncollectible accounts expense related to the effects of COVID-19, IT maintenance and consulting expenses, and employee compensation and benefits-related expenses compared to the prior-year period.

•Operating income increased slightly reflecting the higher total margin largely offset by higher depreciation expense ($3.4 million) and higher operating and administrative expenses ($3.2 million). The increased depreciation expense is attributable to continued IT and distribution system capital expenditure activity.

(a)Total margin represents total revenue less total cost of sales and excludes pre-tax gains and losses on commodity derivative instruments not associated with current period transactions. In the case of UGI Utilities, total margin is reduced by revenue-related tax expenses (which have been excluded from UGI Utilities' operating and administrative expenses presented). In the case of UGI International, total margin represents revenues less cost of sales and, in the 2019 three-month period, French energy certificate costs of $5.0 million. For financial statement purposes, French energy certificate costs in the 2019 three-month period are included in "Operating and administrative expenses" on the Condensed Consolidated Statements of Income (but excluded from operating and administrative expenses presented above). For financial statement purposes, French energy certificate costs in the 2020 three-month period are included in Cost of Sales.

N.M. - Variance is not meaningful.

REPORT OF EARNINGS – UGI CORPORATION

(Millions of dollars, except per share)


	Three Months Ended June 30,						Nine Months Ended June 30,						Twelve Months Ended June 30,
	2020		2019		2020		2019		2020		2019
Revenues:
AmeriGas Propane	$	450.9	$	478.7	$	1,983.3	$	2,270.5	$	2,394.8	$	2,737.5
UGI International	371.5		486.6		1,726.3		1,980.5		2,118.0		2,436.9
Midstream & Marketing	222.5		267.3		1,017.2		1,269.1		1,263.8		1,533.8
UGI Utilities	179.1		163.9		901.0		916.2		1,033.4		1,042.3
Corporate & Other (a)	(24.7)		(32.8)		(193.0)		(266.3)		(224.8)		(307.4)
Total revenues	$	1,199.3	$	1,363.7	$	5,434.8	$	6,170.0	$	6,585.2	$	7,443.1
Earnings (loss) before interest expense and income taxes:
AmeriGas Propane	$	18.8	$	(1.2)	$	390.1	$	412.7	$	381.4	$	400.1
UGI International	20.3		28.7		246.7		217.8		263.2		218.0
Midstream & Marketing	20.4		4.3		161.2		99.7		175.6		107.9
UGI Utilities	20.9		20.8		228.5		218.5		235.7		220.7
Total reportable segments	80.4		52.6		1,026.5		948.7		1,055.9		946.7
Corporate & Other (a)	97.1		(40.8)		(95.2)		(216.5)		(198.5)		(152.5)
Total earnings before interest expense and income taxes	177.5		11.8		931.3		732.2		857.4		794.2
Interest expense:
AmeriGas Propane	(40.2)		(41.6)		(123.9)		(126.2)		(165.1)		(167.3)
UGI International	(7.9)		(5.8)		(23.2)		(17.3)		(30.9)		(22.1)
Midstream & Marketing	(11.5)		(0.7)		(34.4)		(1.7)		(41.7)		(2.0)
UGI Utilities	(13.8)		(12.4)		(40.9)		(36.3)		(54.2)		(47.2)
Corporate & Other, net (a)	(7.4)		—		(24.9)		(0.2)		(31.5)		(0.4)
Total interest expense	(80.8)		(60.5)		(247.3)		(181.7)		(323.4)		(239.0)
Income (loss) before income taxes	96.7		(48.7)		684.0		550.5		534.0		555.2
Income tax (expense) benefit	(12.0)		2.2		(161.7)		(111.8)		(142.5)		(124.3)
Net income (loss) including noncontrolling interests	84.7		(46.5)		522.3		438.7		391.5		430.9
Add net loss (deduct net income) attributable to noncontrolling interests, principally in AmeriGas Partners, L.P.	0.6		44.6		0.5		(131.0)		79.8		(98.8)
Net income (loss) attributable to UGI Corporation	$	85.3	$	(1.9)	$	522.8	$	307.7	$	471.3	$	332.1
Earnings (loss) per share attributable to UGI shareholders:
Basic	$	0.41	$	(0.01)	$	2.50	$	1.76	$	2.31	$	1.90
Diluted	$	0.41	$	(0.01)	$	2.49	$	1.73	$	2.29	$	1.87
Weighted Average common shares outstanding (thousands) (b):
Basic	208,598		174,759		208,989		174,541		204,168		174,499
Diluted	208,975		174,759		210,009		177,389		205,490		177,414
Supplemental information:
Net income (loss) attributable to UGI Corporation:
AmeriGas Propane	$	(15.1)	$	(2.0)	$	197.5	$	76.3	$	189.4	$	71.2
UGI International	(11.3)		14.8		137.0		141.2		140.6		141.6
Midstream & Marketing	6.7		2.2		92.7		71.3		99.4		77.4
UGI Utilities	4.1		6.7		147.3		139.4		141.1		135.1
Total reportable segments	(15.6)		21.7		574.5		428.2		570.5		425.3
Corporate & Other (a)	100.9		(23.6)		(51.7)		(120.5)		(99.2)		(93.2)
Total net income (loss) attributable to UGI Corporation	$	85.3	$	(1.9)	$	522.8	$	307.7	$	471.3	$	332.1

(a) Corporate & Other includes specific items attributable to our reportable segments that are not included in profit measures used by our chief operating decision maker in assessing our

reportable segments' performance or allocating resources. These specific items are shown in the section titled "Non-GAAP Financial Measures - Adjusted Net Income Attributable to UGI and Adjusted Diluted Earnings Per Share" below. Corporate & Other also includes the elimination of certain intercompany transactions.

(b) The three, nine and twelve months ended June 30, 2020, reflects the August 2019 issuance of 34.6 million shares of UGI Common Stock in connection with the AmeriGas Merger.

Non-GAAP Financial Measures - Adjusted Net Income Attributable to UGI and Adjusted Diluted Earnings Per Share

The following tables reconcile net income attributable to UGI Corporation, the most directly comparable GAAP measure, to adjusted net income attributable to UGI Corporation, and reconcile diluted earnings per share, the most comparable GAAP measure, to adjusted diluted earnings per share, to reflect the adjustments referred to previously:


		Three Months Ended June 30,						Nine Months Ended June 30,						Twelve Months Ended June 30,
		2020		2019		2020		2019		2020		2019
Adjusted net income attributable to UGI Corporation (millions):
	Net income (loss) attributable to UGI Corporation	$	85.3	$	(1.9)	$	522.8	$	307.7	$	471.3	$	332.1
	Net (gains) losses on commodity derivative instruments not associated with current-period transactions (net of tax of $46.8, $(11.1), $5.2, $(47.5), $(6.8) and $(31.2), respectively)	(115.7)		25.0		(16.0)		117.7		13.7		76.5
	Unrealized losses (gains) on foreign currency derivative instruments (net of tax of $(1.9), $(0.3), $(5.7), $3.4, $0.2 and $5.0, respectively)	4.9		0.5		14.4		(8.5)		—		(11.8)
	Acquisition and integration expenses associated with the CMG Acquisition (net of tax of $0, $0, $(0.5), $0, $(5.0) and $0, respectively)	0.2		—		1.4		—		12.6		—
	LPG business transformation expenses (net of tax of $(1.9), $0, $(12.2), $0, $(17.3) and $0, respectively)	4.5		—		30.4		—		46.0		—
	Loss on extinguishments of debt (net of tax of $0, $0, $0, $(1.9), $0 and $(1.9), respectively)	—		—		—		4.2		—		4.2
	AmeriGas Merger expenses (net of tax of $0, $(0.1), $0, $(0.2), $(0.2) and $(0.2), respectively)	—		0.3		—		0.5		0.7		0.5

	Integration expenses associated with Finagaz (net of tax of $0, $0, $0, $0, $0 and $(3.8), respectively)	—		—		—		—		—		5.9
	Impact of change in French tax rate	—		—		—		—		—		1.4
	Remeasurement impact from TCJA	—		—		—		—		—		5.8
	Impairment of assets held-for-sale (net of tax of $(14.9), $0, $(14.9), $0, $(14.9) and $0, respectively)	36.7		—		36.7		—		36.7		—
	Total adjustments (1) (2)	(69.4)		25.8		66.9		113.9		109.7		82.5
	Adjusted net income attributable to UGI Corporation	$	15.9	$	23.9	$	589.7	$	421.6	$	581.0	$	414.6

Adjusted diluted earnings per share:
	UGI Corporation earnings (loss) per share — diluted (3)	$	0.41	$	(0.01)	$	2.49	$	1.73	$	2.29	$	1.87
	Net (gains) losses on commodity derivative instruments not associated with current-period transactions (4)	(0.55)		0.14		(0.07)		0.67		0.08		0.44
	Unrealized losses (gains) on foreign currency derivative instruments	0.02		—		0.07		(0.04)		—		(0.06)
	Acquisition and integration expenses associated with the CMG Acquisition	—		—		0.01		—		0.06		—
	LPG business transformation expenses	0.02		—		0.14		—		0.22		—
	Loss on extinguishments of debt	—		—		—		0.02		—		0.02
	AmeriGas Merger expenses	—		—		—		—		—		—

	Integration expenses associated with Finagaz	—		—		—		—		—		0.03
	Impact of change in French tax rate	—		—		—		—		—		0.01
	Remeasurement impact from TCJA	—		—		—		—		—		0.03
	Impairment of assets held-for-sale	0.18		—		0.17		—		0.18		—
	Total adjustments (1) (3)	(0.33)		0.14		0.32		0.65		0.54		0.47
	Adjusted diluted earnings per share (3)	$	0.08	$	0.13	$	2.81	$	2.38	$	2.83	$	2.34

(1)Corporate & Other includes certain adjustments made to our reporting segments in arriving at net income attributable to UGI Corporation, including the impact of the anticipated tax benefits resulting from the carryback of a NOL for Fiscal 2020 pursuant to the provisions of the CARES Act. These adjustments have been excluded from the segment results to align with the measure used by our chief operating decision maker in assessing segment performance and allocating resources.

(2)Income taxes associated with pre-tax adjustments determined using statutory business unit tax rates.

(3)The three, nine and twelve months ended June 30, 2020, include the impact from the August 2019 issuance of 34.6 million shares of UGI Common Stock in connection with the AmeriGas Merger. Adjusted diluted earnings per share for the three months ended June 30, 2019 are based on fully diluted shares of 177.336 million.

(4)Includes the effects of rounding.

Fiscal 2020 Third Quarter Results John L. Walsh President & CEO, UGI Corporation Ted J. Jastrzebski Chief Financial Officer, UGI Corporation Robert F. Beard Executive Vice President Natural Gas, UGI Corporation Roger Perreault Executive Vice President Global LPG, UGI Corporation 1

About This Presentation This presentation contains statements, estimates and projections that are forward-looking statements (as defined in Section 21E of the Securities and Exchange Act of 1934, as amended). Management believes that these are 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 its Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2020 for a more extensive list of factors that could affect results. Among them are adverse weather conditions and the seasonal nature of our business; 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; liability for uninsured claims and for claims in excess of insurance coverage; 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 the withdrawal of the United Kingdom from the European Union; and foreign currency exchange rate fluctuations (particularly the euro); the timing of development of Marcellus Shale gas production; the availability, timing and success of our acquisitions, commercial initiatives and investments to grow our business; our ability to successfully integrate acquired businesses and achieve anticipated synergies; the interruption, disruption, failure, malfunction, or breach of our information technology systems, including due to cyber-attack; the inability to complete pending or future energy infrastructure projects; our ability to achieve the operational benefits and cost efficiencies expected from the completion of pending and future transformation initiatives at our business units; and uncertainties related to the global pandemic, including the duration and/or impact of the COVID-19 pandemic. UGI Corporation | Fiscal 2020 Third Quarter Results 2

Third Quarter Recap 3 John L. Walsh President & CEO, UGI

Third Quarter Earnings Recap • GAAP EPS of $0.41 and Adjusted EPS1 of $0.08 • Colder-than-normal weather in domestic service territories partially offset negative impact of COVID-19 pandemic; warmer-than-normal weather at UGI International Adjusted EPS1 Q3 2020 Weather Versus: Normal Midstream & AmeriGas UGI International Marketing Gas Utility $0.13 14.5% Colder 21.4% Colder 12.6% Colder 12.3% Warmer Q3 2020 Weather Versus: Prior Year $0.08 Midstream & AmeriGas UGI International Marketing Gas Utility 14.5% Colder 43.0% Colder 54.4% Colder 20.8% Warmer Q3 2019 Q3 2020 UGI Corporation | Fiscal 2020 Third Quarter Results 1Adjusted EPS is a non-GAAP measure. See slide 9 for reconciliation. 4

Key Accomplishments • UGI’s businesses adopted new protocols focused on the safety of our employees, our customers, and the public. • Midstream & Marketing continued to see the benefits from the UGI Appalachia acquisition. • AmeriGas delivered solid EBIT improvement due to cold weather and focused expense management. COVID-19 created a headwind for commercial and motor fuel volumes, but provided a tailwind for our cylinder business. • Utilities filed a petition for settlement agreement with the PA PUC that includes a proposed $20 million increase to base rates. • We continue to work closely with our PennEast partners to gain the necessary approval for the project. The PennEast Partnership expects to gain additional clarity from the U.S. Supreme Court in the early fall, when we expect a decision will be made whether to hear PennEast’s case. 5 UGI Corporation | Fiscal 2020 Third Quarter Results

Year-to-Date Results Recap • YTD GAAP EPS of $2.49 compared to GAAP EPS of $1.73 in the prior-year period YTD Adjusted EPS1 $2.813 $2.382 $0.70 $0.79 UGI Utilities $0.44 Midstream & $0.40 Marketing $0.65 $0.79 UGI International $0.94 $0.43 AmeriGas Q3 2019 Q3 2020 1Adjusted EPS is a non-GAAP measure. See slide 10 for reconciliation. UGI Corporation | Fiscal 2020 Third Quarter Results 2 Includes ($0.03) Corporate & Other 6 3 Includes $0.08 Corporate & Other

Third Quarter Financial Review Ted J. Jastrzebski Chief Financial Officer, UGI

FY 2020 Guidance Update Based on strong third quarter performance and tax benefits2, UGI increases FY 2020 adjusted EPS guidance to a range of $2.45 - $2.551 per share, inclusive of COVID-19 impacts $2.55 $2.35 $2.45 $2.15 Prior Guidance Updated Guidance 1Because we are unable to predict certain potentially material items affecting diluted earnings per share on a GAAP basis, principally mark-to-market gains and losses on commodity and certain foreign currency derivative instruments, we cannot reconcile fiscal year 2020 adjusted diluted earnings per share, a non-GAAP measure, to diluted earnings per share, the most directly comparable GAAP measure, in reliance on the “unreasonable efforts” exception set forth in SEC rules. 2Tax benefit related to recently released regulations of the Global Intangible Low Taxed Income, known as GILTI, provisions in the TCJA and from the CARES Act. UGI Corporation | Fiscal 2020 Third Quarter Results 8

Liquidity Update • Cash flows remain strong • Cash provided by Operating Activities and Free Cash Flows both grew 4% and 19%, respectively, versus the same period a year ago • Strong balance sheet position - total available liquidity as of 6/30/20: $1.6 billion • Natural Gas and Global LPG businesses have access to capital • Well within debt covenant levels • UGI’s Board of Directors declared a quarterly dividend of $0.33 per share on July 21st UGI Corporation | Fiscal 2020 Third Quarter Results 9

Third Quarter Adjusted diluted earnings (loss) per share Q3 2019 Q3 2020 YTD 2019 YTD 2020 AmeriGas Propane $(0.01) $(0.07) $0.43 $0.94 UGI International 0.08 (0.05) 0.79 0.65 Midstream & Marketing 0.01 0.03 0.40 0.44 UGI Utilities 0.04 0.02 0.79 0.70 Corporate & Other (a) (0.13) 0.48 (0.68) (0.24) (Loss) earnings per share – diluted (0.01) 0.41 1.73 2.49 Net loss (gains) on commodity derivative instruments (b) 0.14 (0.55) 0.67 (0.07) Unrealized losses (gains) on foreign currency derivative instruments - 0.02 (0.04) 0.07 Loss on extinguishments of debt - - 0.02 - AmeriGas Merger expenses - - - - CMG acquisition and integration expenses - - - 0.01 LPG business transformation expenses - 0.02 - 0.14 Impairment of assets held-for-sale - 0.18 - 0.17 Total Adjustments (a) (c) 0.14 (0.33) 0.65 0.32 Adjusted earnings per share – diluted (c) $0.13 $0.08 $2.38 $2.81 (a) Corporate & Other includes certain adjustments made to our reporting segments in arriving at net income attributable to UGI Corporation, including the impact of the anticipated tax benefits resulting from the carryback of an NOL for Fiscal 2020 pursuant to the provisions of the CARES Act. These adjustments have been excluded from the segment results to align with the measure used by our chief operating decision maker in assessing segment performance and allocating resources. (b) Includes the effects of rounding. (c) Adjusted EPS for Q3 and YTD 2020 reflect 34.6 million incremental shares of UGI Common Stock issued in conjunction with the AmeriGas Merger. Adjusted EPS for Q3 2019 is based on fully diluted shares of 177.3 million UGI Corporation | Fiscal 2020 Third Quarter Results 10

Third Quarter Results Recap Reportable Segments EBIT1 (Millions of dollars) $16.1 $0.1 $20.0 $(8.4) $80.4 14.5% 20.8% 43.0% 54.4% $52.6 Colder Warmer Colder Colder than prior year Q3 2019 AmeriGas UGI International Midstream & UGI Utilities Q3 2020 Marketing 1Reportable segments earnings before interest expense and income taxes represents an aggregate of our UGI Corporation | Fiscal 2020 Third Quarter Results segment level EBIT as determined in accordance with GAAP 11

Financial Results - AmeriGas (Millions of dollars) Q3 FY 2019 Q3 FY 2020 Weather versus normal Loss Before Interest Expense & Income Taxes $(1.2) Total Margin 4.6 14.5% Operating and Administrative Expenses 22.6 Depreciation and Amortization (1.0) Other Income and Expense, net (6.2) 0% Earnings Before Interest Expense & Income Taxes $18.8 Q3 2019 Q3 2020 Item Primary Drivers Total Margin ↑ Higher average retail unit margin ($11.9 million), including higher margin from cylinder exchange program, partially offset by the decrease in total Warmer retail volumes sold ($7.2 million) principally reflecting the effects of COVID- 19 and structural conservation 14.5% colder than prior Operating and Admin Expenses ↓ Progress on LPG transformation initiatives and lower litigation expense ($10 year million); LPG transformation savings primarily reflect lower compensation and benefits costs ($7.8 million) and decreased vehicle operating and maintenance expenses ($3.5 million) Other Income ↓ Lower customer late payment fees in response to COVID-19 UGI Corporation | Fiscal 2020 Third Quarter Results 12

Financial Results – UGI International (Millions of dollars) Q3 FY 2019 Q3 FY 2020 Weather versus normal Earnings Before Interest Expense & Income Taxes $28.7 Colder Total Margin (30.2) Operating and Administrative Expenses 23.4 10.8% Other Income and Expense, net (1.6) Earnings Before Interest Expense & Income Taxes $20.3 (12.3)% Q3 2019 Item Primary Drivers Total Margin ↓ Lower volumes largely attributable to warm weather and the COVID-19 impact on commercial and industrial segments, lower margins from energy marketing, and the translation effects of weaker euro (~$5 Q3 2020 million); partially offset by higher average LPG unit margins including margin management efforts and lower LPG product costs Warmer Operating and Admin Weaker euro (~$4 million), decreased distribution costs attributable to 20.8% warmer than prior Expenses ↓ the lower volumes, and lower compensation and employee benefits- year related costs 13 UGI Corporation | Fiscal 2020 Third Quarter Results

Financial Results – Midstream & Marketing (Millions of dollars) Q3 FY 2019 Q3 FY 2020 Weather versus normal Earnings Before Interest Expense & Income Taxes $4.3 Colder Total Margin 21.4 21.4% Operating and Administrative Expenses (3.8) Depreciation and Amortization (7.6) Other Income and Expense, net 6.1 (14.5)% Earnings Before Interest Expense & Income Taxes $20.4 Q3 2020 Item Primary Drivers Total Margin ↑ Higher natural gas gathering margin ($24.6 million) largely attributable to incremental margin from UGI Appalachia, partially offset by lower retail Q3 2019 commodity margin ($2.3 million), largely due to lower commercial volumes attributable to COVID-19; lower service-related margin ($2.0 million) and decreased electric generation margin ($1.5 million) Warmer Operating and Admin Expenses ↑ Largely due to UGI Appalachia expenses 43.0% colder than prior Depreciation and Amortization↑ Expansion of gathering assets, principally UGI Appalachia year Other Income↑ Equity income from Pennant system acquired as part of the UGI Applachia 14 UGI Corporation | Fiscal 2020 Third Quarter Results

Financial Results – Utilities (Millions of dollars) Q3 FY 2019 Q3 FY2020 Weather versus normal Earnings Before Interest Expense & Income Taxes $20.8 Colder Total Margin 8.2 Operating and Administrative Expenses (3.2) 12.6% Depreciation (3.4) Other Income and Expense, net (1.5) (27.1)% Q3 2020 Earnings Before Interest Expense & Income Taxes $20.9 Item Primary Drivers Core Market Volume ↑ Colder weather, growth in core market customers, and higher average use per customer, partially offset by volume reductions attributable to COVID-19 Total Margin ↑ Higher total margin from Gas Utility core market customers ($14.6 million), Q3 2019 partially offset by an adjustment in the 2019 three-month period ($3.3 Warmer million) related to credits provided to customers in connection with the Tax Cuts and Jobs Act 54.4% colder than prior Operating and Admin Expenses ↑ Increases in uncollectible accounts expense related to the effects of COVID- year 19, IT maintenance and consulting expenses and employee compensations and benefits-related expenses Depreciation ↑ Continued IT and distribution system capital expenditure activity 15 UGI Corporation | Fiscal 2020 Third Quarter Results

Update on Natural Gas Business Robert F. Beard Executive Vice President Natural Gas, UGI

Natural Gas Business Update Solid 3rd quarter performance driven by: • Strong performance at UGI Appalachia • Cold weather coupled with strong customer usage offset the effects of COVID-19 at the Utilities Significant progress on strategic initiatives • Continue to execute on our capital program at the Utilities • Making progress on ambitious greenhouse gas and fugitive methane emissions targets • Expect to complete the Bethlehem LNG Facility this Fall • Will provide an additional 75,000 dth/d of LNG vaporization capability • Auburn system throughput increased 52 Bcf or 91% from prior-year period • Completed the acquisition of GHI Energy, a renewable natural gas company operating in California • Announced the sale of our 5.97% ownership interest in the Conemaugh coal- fired generating station • On August 3rd UGI Utilities filed a joint settlement petition to the PA PUC • Terms include an increase in base rates of $20 million 17 UGI Corporation | Fiscal 2020 Third Quarter Results

Update on Global LPG Business Roger Perreault Executive Vice President Global LPG, UGI

Global LPG Business Update Solid 3rd quarter performance driven by: • Effective expense management • AmeriGas cylinder sales • 30% volume increase from prior year • Increase in demand for home delivery service, Cynch • Added ~38K customers during Q3; 57K customers total • LPG Business Transformation Initiatives remain on track • AmeriGas • $30 million in cost savings in FY20 • $120 million in permanent savings by the end of FY22 • UGI International • €5 million in cost savings in FY20 • €30 million in permanent savings by the end of FY22 • Continued focus on operational efficiencies and cost management • Diversification across US and the 17 European countries UGI Corporation | Fiscal 2020 Third Quarter Results 19

ESG Update and Q&A John L. Walsh President & CEO, UGI

ESG Update • Continue to address the challenges presented by the pandemic and remain focused on the health and safety of our employees, customers, and the communities we serve • Addressing UGI’s role in the fight against racial inequality in our society • Issued 2nd ESG Report entitled Today’s Energy, Tomorrow’s World • UGI Utilities committed to reduce fugitive methane emissions by 92% and greenhouse gas emissions by over 8 million metric tons by 2030 • Sale of ownership interest in Conemaugh will reduce total Scope I direct emissions by more than 30% • Acquisition of GHI Energy expands our product offering and positions UGI to continued, environmentally- responsible growth • Installed 360 kW of solar electric generation, reducing greenhouse gases by 570 tons per year at our newly constructed Utilities building. UGI Corporation | Fiscal 2020 Third Quarter Results 21

Q&A 22

Appendix

Third Quarter Adjusted Net Income (Dollars in millions) Q3 2019 Q3 2020 AmeriGas Propane $(2.0) $(15.1) UGI International 14.8 (11.3) Midstream & Marketing 2.2 6.7 UGI Utilities 6.7 4.1 Corporate & Other (a) (23.6) 100.9 Net (loss) income attributable to UGI Corporation (1.9) 85.3 Net losses (gains) losses on commodity derivative instruments 25.0 (115.7) Unrealized losses on foreign currency derivative instruments 0.5 4.9 AmeriGas Merger expenses 0.3 - CMG acquisition and integration expenses - 0.2 LPG business transformation expenses - 4.5 Impairment of assets held-for-sale - 36.7 Total Adjustments (a) (b) 25.8 (69.4) Adjusted net income attributable to UGI Corporation $23.9 $15.9 (a) Corporate & Other includes certain adjustments made to our reporting segments in arriving at net income attributable to UGI Corporation, including the impact of the anticipated tax benefits resulting from the carryback of an NOL for Fiscal 2020 pursuant to the provisions of the CARES Act. These adjustments have been excluded from the segment results to align with the measure used by our chief operating decision maker in assessing segment performance and allocating resources. (b) Income taxes associated with pre-tax adjustments determined using statutory business unit tax rates UGI Corporation | Fiscal 2020 Third Quarter Results 24

UGI Supplemental Footnotes • Management uses “adjusted net income attributable to UGI Corporation” and “adjusted diluted earnings per share,” both of which are non-GAAP financial measures, when evaluating UGI’s overall performance. Management believes that these non-GAAP measures provide meaningful information to investors about UGI’s performance because they eliminate gains and losses on commodity and certain foreign currency derivative instruments not associated with current-period transactions and other significant discrete items that can affect the comparison of period-over-period results. • Management does not designate its commodity and certain foreign currency derivative instruments as hedges under GAAP. Volatility in net income attributable to UGI Corporation as determined in accordance with GAAP can occur as a result of gains and losses on commodity and certain foreign currency derivative instruments not associated with current-period transactions. These gains and losses result principally from recording changes in unrealized gains and losses on unsettled commodity and certain foreign currency derivative instruments and, to a much lesser extent, certain realized gains and losses on settled commodity derivative instruments that are not associated with current-period transactions. However, because these derivative instruments economically hedge anticipated future purchases or sales of energy commodities, or in the case of certain foreign currency derivatives reduce volatility in anticipated future earnings associated with our foreign operations, we expect that such gains or losses will be largely offset by gains or losses on anticipated future energy commodity transactions or mitigate volatility in anticipated future earnings. • 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. • The table on slide 24 reconciles net income attributable to UGI Corporation, the most directly comparable GAAP measure, to adjusted net income attributable to UGI Corporation, and the table on slide 10 reconciles diluted earnings per share, the most comparable GAAP measure, to adjusted diluted earnings per share, to reflect the adjustments referred to above. UGI Corporation | Fiscal 2020 Third Quarter Results 25

Investor Relations: Brendan Heck Alanna Zahora 610-456-6608 610-337-1004 heckb@ugicorp.com zahoraa@ugicorp.com

Cover Page	Aug. 03, 2020
Cover [Abstract]
Document Type	8-K
Document Period End Date	Aug. 03, 2020
Entity Registrant Name	UGI Corp
Entity Central Index Key	0000884614
Amendment Flag	false
Entity Incorporation, State or Country Code	PA
Entity File Number	1-11071
Entity Tax Identification Number	23-2668356
Entity Address, Address Line One	460 North Gulph Road
Entity Address, City or Town	King of Prussia
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	19406
City Area Code	610
Local Phone Number	337-7000
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock, without par value
Trading Symbol	UGI
Security Exchange Name	NYSE
Entity Emerging Growth Company	false