Earnings Call Excerpt
UGI Corp. (UGI)
F2Q092009 Earnings Call
April 30, 2009; 4:00 pm ET
Executives
Lon Greenberg - Chairman and Chief Executive Officer
Peter Kelly - Chief Financial Officer
John Walsh - President and Chief Operating Officer
Eugene Bissell - President and CEO of AmeriGas
Robert Krick - Vice President and Treasurer of AmeriGas Propane, Inc
Analysts
Barry Klein - Citi
Ryan Rosenthal - Sidoti & Company
Magi Colaba - Raymond James
Ron Londe - Wachovia
Carlos Rodriguez - Hartford Investment Management
Ganesh Narayanan - Citi
Anil Atluri - Barclays Capital
Presentation
Operator
Good day and welcome to the UGI and AmeriGas Partners second quarter fiscal year 2009 earnings results conference call and webcast. This call is being recorded. At this time for opening remarks and introductions, I would like to turn the call over to Bob Krick. Please go ahead sir.
Robert Krick
Thank you, Michael. Good afternoon and thank you for joining us today. As we begin, let me remind you that our comments will contain certain forward-looking statements, which the management of UGI and AmeriGas believe 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 the annual reports on Form 10-K for a fuller list of factors that could affect results, but among them are adverse weather conditions, price volatility and availability of all energy products, including natural gas, propane and fuel oil, increased customer conservation measures, political, economic, legislative and regulatory changes in the U.S and abroad, currency exchange rates and competition from the same and alternative energy sources.
UGI and AmeriGas undertake no obligation to release revisions to these forward-looking statements to reflect events or circumstances occurring after today.
In addition, our remarks today will reference certain non-GAAP financial measures for fiscal 2009 that management believes provide useful information to investors to more effectively evaluate the year-over-year results of operations of the company.
These non-GAAP financial measures, including EBITDA excluding the sale of a storage terminal by AmeriGas in the first quarter of 2009 are not comparable measures used by other companies and should be considered in conjunction with a similar number EBITDA and other performance measures, such as cash flows from operating activities.
With me today are John Walsh, President and COO of UGI; Eugene Bissell, President and CEO of AmeriGas; and Peter Kelly, CFO of UGI; and of course your host, Chairman and CEO of UGI, Lon Greenberg. Lon.
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