Nicor Earnings: Here’s Why Investors Don’t Like These Results
Nicor Inc. (NYSE:GAS) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 0.27%.
Nicor Inc. Earnings Cheat Sheet
Revenue: Rose 31.78% to $904 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Nicor Inc. reported adjusted EPS income of $0.41 per share. By that measure, the company beat the mean analyst estimate of $0. It beat the average revenue estimate of $0.
Quoting Management: “We continued to demonstrate solid performance through the second quarter of the year. Building on an excellent first quarter, we reported year-over-year gains in all business segments through June, with the exception of midstream operations which remains hampered by low natural gas price volatility,” said Andrew W. Evans, executive vice president and chief financial officer of AGL Resources Inc. “Through the first six months of the year, consolidated EBIT increased by $67 million, an 18% improvement compared to the same period last year. After normalizing for last year`s record warm weather as well as the gain on our sale of Compass Energy in the second quarter, we still recorded an EBIT improvement of $22 million due primarily to ongoing infrastructure investment and effective expense management.”
Key Stats (on next page)…