UGI Corporation (NYSE:UGI) Q1 2024 Earnings Conference Call February 1, 2024 9:00 AM ET
Company Participants
Tameka Morris - SD, IR
Mario Longhi - Interim President and CEO
Sean O'Brien - CFO
Robert Beard - COO
Conference Call Participants
Gabriel Moreen - Mizuho
Sarah Akers - Wells Fargo
Julien Dumoulin-Smith - Bank of America
Operator
Good day, and thank you for standing by. Welcome to the UGI Corporation’s Fiscal 2024 First Quarter Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question-and-answer session. [Operator instructions] Please be advised that today's conference is being recorded.
I would now like to hand the conference over to your speaker today, Tameka Morris, Senior Director of Investor Relations. Please go ahead.
Tameka Morris
Good morning, everyone. Thank you for joining our fiscal 2024 first quarter earnings call. With me today are Mario Longhi, Interim President and CEO; Sean O'Brien, CFO; and Bob Beard, COO.
On today's call we will discuss our near-term priorities and financial results for the quarter before concluding with a question and answer session.
Before we begin, let me remind you that our comments today include certain forward-looking statements, which 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. Please read our earnings release and our most recent annual and quarterly reports for an extensive list of factors that could affect results. We assume no duties to update or revise forward-looking statements to reflect events or circumstances that are different from expectations.
We will also describe our business using certain non-GAAP financial measures. Reconciliations of these measures to the comparable GAAP measures are available within our presentation.
Now, I'm pleased to turn the call over to Mario.
Mario Longhi
Thank you, Tameka, and good morning, everyone. As I have been engaging with our people at all levels of the organization, a key objective of these interactions has been to better understand our culture, strengths, and improvements needed for greater financial performance. Now, what is evident from my time on the board and engagement with the organization is that the fundamentals of our core business are solid.
In Pennsylvania and West Virginia, we operate attractive, regulated utilities business that deliver over 10% return on equity in aggregate. These businesses provide earnings, stability, and growth due to continued customer additions, the long runway of opportunities to replace aging infrastructure and reduced weather sensitivity due to a weather normalization rider.