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January 25, 2012 4:00 PM ET
Hugh Gallagher – Treasurer
Lon Greenberg – Chairman and CEO, UGI Corporation
John Walsh – President and CEO, UGI Utilities, Inc.
Eugene Bissell – President and CEO, AmeriGas Propane, Inc.
Carl Kirst – Bank of Montreal
Darren Horowitz – Raymond James
Ronald Londe – Wells Fargo
Stephanie Guan – Bank of America
James Yannello – Skyden Capital
Mark Barnett – Morningstar Research
John Hansell – Presidus
Steven Karpel – Credit Suisse
Good day, ladies and gentlemen, and welcome to the UGI and AmeriGas First Quarter Earnings Conference Call. At this time, all participants are in a listen-only mode. Later we will conduct a question-and-answer session and instructions will follow at that time. (Operator Instructions) As a reminder, this conference call is being recorded.
I would now like to introduce your host for today’s conference, Hugh Gallagher, Treasurer of UGI.
Thank you, and good afternoon and thank you for joining us. As we begin, let me remind you that our comments today will include certain forward-looking statements, which 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 our annual reports on Form 10-K for a more extensive list of factors that could affect results, but among them are: adverse weather conditions; cost volatility and availability of all energy products; increased customer conservation measures; the impact of pending and future legal proceedings; domestic and international political, regulatory and economic conditions; currency exchange rate fluctuations; the timing of development of Marcellus Shale gas production; the timing and success of our commercial initiatives and investments to grow our businesses; and our ability to successfully integrate acquired businesses including Heritage Propane and achieve anticipated synergies.