AGL Resources 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.
AGL Resources Inc. Earnings Cheat Sheet
Revenue: Rose 21.72% to $1.71 billion from the year-earlier quarter.
Quoting Management: “With weather that was 5% colder-than-normal in Illinois and slightly colder-than-normal in Georgia, our first quarter performance significantly improved year-over-year when compared to record warm weather in 2012. Beyond weather effects, our strategic approach of utilizing a shared services model continues to bring benefits to our customers and shareholders through the optimization of operations and maintenance expenses,” said John W. Somerhalder II, chairman, president and chief executive officer of AGL Resources. “Our wholesale services and midstream operations remain challenged in an environment of low natural gas price volatility, but we have positioned them to operate more efficiently. With a strong first quarter complete, we reaffirm our 2013 earnings per share guidance of $2.50 to $2.70 per share.”
Key Stats (on next page)…
Revenue increased 40.31% from $1.22 billion in the previous quarter.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)