AGL Resources Q1 Profit Down; Backs 2015 EPS View

(RTTNews) - AGL Resources Inc. (GAS) reported that its net income attributable to the company for the first quarter 2015 declined to $193 million from the prior year's $284 million, with earnings per share decreasing to $1.62 from $2.38 last year.

Quarterly income from continuing operations, excluding wholesale services, was $159 million, or $1.34 per share, compared to $157 million, or $1.32 per diluted share in the first quarter of 2014.

On a consolidated basis, income from continuing operations attributable to AGL Resources Inc. was $193 million, or $1.62 per share, compared to $334 million, or $2.81 per share in the first quarter of 2014.

Operating revenues for the quarter dropped to $1.721 billion from $2.462 billion in the previous year.

AGL Resources still expects its consolidated earnings per share in 2015 to be in the range of $2.85 to $3.10, excluding mark-to-market hedge movements for 2016 and forward positions. Adjusted 2015 earnings per share excluding wholesale services are expected to be in the range of $2.70 to $2.80.

The company expects to generate long-term average annual earnings per share growth of 6% to 9% through 2019.