Equitable Resources Powers Past Targets

 

Earnings Scorecard
Actual Estimated* Year-Ago
$1.19 $1.102 $0.79

Equitable Resources (EQT Quote) reported fourth-quarter earnings that powered past analysts' expectations and projected 35% to 40% earnings-per-share growth for 2001.

The Pittsburgh-based energy company said that, excluding special items, it earned $39.6 million, or $1.19 a share, compared with $26.4 million, or 79 cents a share, in the same period last year. Analysts, on average, expected fourth-quarter earnings of $1.10 a share, according to First Call/Thomson Financial.

Revenue for the quarter was $152.3 million, compared with $122.3 million last year.

The company also said it was "optimistic" about earnings potential for the year ahead, and targeted 2001 earnings-per-share growth of 35% to 40% over the 2000 full-year figure of $3.44. Ten analysts surveyed by First Call expect 2001 earnings of $4.38 a share, a 27% increase.

Shares of Equitable were lately up 85 cents, or $1.42, to $60.50 in morning trading on the New York Stock Exchange.

  • Loading Comments...
  •  

SHARE:

  • email
  • print
  • comment
  • digg
  • delicious
  • linkedin




Connect with TheStreet

Dow Jones S&P 500 NASDAQ 10-Year Note
10,325.26 1,103.29 2,173.94 34.74
Oil *
78.50
UP
78.29
UP
10.28
UP
22.86
DOWN
0.08
10 Yr
3.47%
SPDR Gold
109.49
+0.76%
+0.94%
+1.06%
-0.23%
Data delayed 20 minutes

Brokerage Partners

TheStreet Premium Services

All Services