WASHINGTON (dpa-AFX) - Piedmont Natural Gas (PNY) Wednesday reported a net income for the first quarter of $85.9 million or $1.18 per share, compared to $76.2 million or $1.05 per share reported for the corresponding quarter in the previous year.
On average, seven analysts polled by Thomson Reuters expected the company to earn $1.16 per share for the quarter. Analysts' estimates typically exclude special items.
Total operating revenues for the latest first quarter were $515.88 million, up from $471.84 million in the comparable quarter last year, while two analysts expected revenues of $491.42 million for the quarter.
Piedmont Natural Gas reaffirms its fiscal year 2013 earnings guidance of $1.67 to $1.77 per diluted share. Analysts currently expect fiscal year 2013 earnings of $1.74 per share.
As previously announced, the Board of Directors on March 6 approved an increase in the company's quarterly dividend on Common Stock. The new quarterly dividend of 31 cents per share will be payable on April 15, 2013 to holders of record at the close of business on March 25, 2013.
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