Falling revenue did not prevent S&P 500 (NYSE:SPY) component Integrys Energy Group, Inc. (NYSE:TEG) from reporting a profit boost in the first quarter. Integrys Energy Group is a holding company whose subsidiaries provide products and services in energy markets.
Integrys Energy Group Earnings Cheat Sheet for the First Quarter
Results: Net income for Integrys Energy Group, Inc. rose to $122.7 million ($1.56/share) vs. $50.3 million (64 cents/share) in the same quarter a year earlier. A more than twofold rise from the year earlier quarter.
Revenue: Fell 14.5% to $1.63 billion YoY.
Actual vs. Wall St. Expectations: TEG fell short of the mean analyst estimate of $1.60/share. Estimates ranged from $1.53 per share to $1.67 per share.
Competitors to Watch: CenterPoint Energy, Inc. (NYSE:CNP), Wisconsin Energy Corp. (NYSE:WEC), CMS Energy Corporation (NYSE:CMS), Dominion Resources, Inc. (NYSE:D), DTE Energy Company (NYSE:DTE), Ameren Corporation (NYSE:AEE), SCANA Corporation (NYSE:SCG), Calpine Corporation (NYSE:CPN), Avista Corporation (NYSE:AVA), and CH Energy Group, Inc. (NYSE:CHG)
Stock Performance: Shares of TEG are trading at $52.73 as of May 5, 2011 at 7:15 AM ET, unchanged from the previous close.