Based on the provided financial report, the title of the article is: "UGI Corporation and Subsidiaries Quarterly Report (Form 10-Q) for the quarterly period ended March 31, 2025

Executive Overview

2025 three-month period compared with 2024 three-month period:

• Net income attributable to UGI Corporation for the 2025 three-month period was $479 million ($2.19 per diluted share) compared to $496 million ($2.30 per diluted share) for the 2024 three-month period.
• Adjusted net income attributable to UGI Corporation for the 2025 three-month period was $484 million ($2.21 per diluted share) compared to $423 million ($1.97 per diluted share) for the 2024 three-month period.
• The increase in adjusted net income was driven by higher earnings contributions from the Midstream & Marketing, Utilities, and UGI International segments, partially offset by lower earnings from the AmeriGas Propane segment.

2025 six-month period compared with 2024 six-month period:

• Net income attributable to UGI Corporation for the 2025 six-month period was $854 million ($3.93 per diluted share) compared to $590 million ($2.74 per diluted share) for the 2024 six-month period.
• Adjusted net income attributable to UGI Corporation for the 2025 six-month period was $779 million ($3.58 per diluted share) compared to $681 million ($3.16 per diluted share) for the 2024 six-month period.
• The increase in adjusted net income was driven by higher earnings contributions from the Midstream & Marketing, UGI International, and Utilities segments, partially offset by lower earnings from the AmeriGas Propane segment.

Analysis of Segment Results

Utilities:

• Utilities’ adjusted net income increased $11 million in the 2025 three-month period and $14 million in the 2025 six-month period, primarily due to higher total margin from increased core market volumes.

Midstream & Marketing:

• Midstream & Marketing’s adjusted net income increased $30 million in the 2025 three-month period and $27 million in the 2025 six-month period, primarily due to lower income tax expenses from higher investment tax credits.

UGI International:

• UGI International’s adjusted net income increased $2 million in the 2025 three-month period and $19 million in the 2025 six-month period, mainly from lower operating and administrative expenses and lower income tax expenses, partially offset by lower margin contributions.

AmeriGas Propane:

• AmeriGas Propane’s adjusted net income decreased $12 million in the 2025 three-month period and $74 million in the 2025 six-month period, primarily due to higher income tax expenses, partially offset by higher total margin.

Financial Condition and Liquidity

• The Company had total available liquidity of approximately $1.9 billion at March 31, 2025.
• The Company completed several financing activities during Fiscal 2025, including issuing senior notes at Mountaineer and UGI Utilities, and amending credit facilities at AmeriGas and UGI Corporation.
• Cash flow provided by operating activities was $848 million in the 2025 six-month period compared to $641 million in the 2024 six-month period.
• Cash flow used by investing activities was $367 million in the 2025 six-month period compared to $353 million in the 2024 six-month period, reflecting higher capital expenditures.
• Cash flow used by financing activities was $268 million in the 2025 six-month period compared to $321 million in the 2024 six-month period.

Utility Regulatory Matters

• UGI Utilities filed a request with the PAPUC to increase base operating revenues by $110 million annually.
• Mountaineer received approval from the WVPSC for its 2024 IREP filing, including recovery of $19 million in costs.

Other Matters

• The Company is involved in pending claims and legal actions related to the West Reading, Pennsylvania explosion in March 2023. The Company maintains liability insurance and believes third-party claims are recoverable through insurance, but cannot predict the final outcome at this time.