UGI's fiscal second-quarter profit rises on US strength

Net income for the three months ended March 31 rose to $126.1 million, or $1.17 per share, compared with $120.2 million, or $1.12 per share in the year-earlier period.

Revenue rose to $2.36 billion from $2 billion.

UGI's energy services business posted a 59 percent increase in net income, while the company's domestic propane business reported a second consecutive year of record results.

Those results more than offset a modest weather-induced dip in net income from gas utility operations and a 6 percent net income drop in UGI's international propane business, which stemmed from lower unit margins.

UGI holds a 44 percent stake in AmeriGas Partners LP and owns Antargaz, one of the largest liquid petroleum gas distributors in France.

Shares fell 15 cents to $26.10 in morning trading.