UGI to Host Investor Call to Discuss Mountaineer Gas Company Acquisition
- Highly strategic and complementary investment in a single-state utility adjacent to UGI’s existing utility footprint.
- Enterprise value represents approximately 1.4 times projected 2021 rate base.
- The acquisition will increase UGI’s regulated utility rate base and customers served by nearly 14% and 30%, respectively, and is consistent with its strategy to focus growth investments on natural gas and renewable energy solutions opportunities.
- Accretive to adjusted earnings per share (“EPS”) in first full year of operations.
- Supports all financial targets and commitments including long-term 6% - 10% EPS growth and 4% annual dividend growth.
- Mountaineer offers a secure platform for growth with predictable, regulated investment opportunities over the next several decades to improve the safety and reliability of the distribution system, serve new customers on the system, decrease methane and greenhouse gas emissions (“GHG”), and build on a long history of providing excellent customer service.
UGI will hold a live Internet Audio Webcast of its conference call to discuss the acquisition of
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FORWARD-LOOKING STATEMENTS
This press release contains statements, estimates and projections that are forward-looking statements (as defined in Section 21E of the Securities 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 for a more extensive list of factors that could affect results. Among them are adverse weather conditions (including increasingly uncertain weather patterns due to climate change) 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
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