This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Aquila Swings to Profit

Electric utility company Aquila (ILA), swung to a profit for the third quarter 2006.

The Kansas City, Mo.-based company earned $115.7 million, or 31 cents a share for the quarter, compared with a loss of $75.7 million, or 20 cents a share, a year ago. Earnings include a $71.5 million gain on sale of Aquila's Minnesota gas utility business and a $56 million tax benefit. The company had incurred a loss of $20.6 million, or 5 cents a share, from continuing operations for the quarter. Analysts polled by Thomson First Call had been expecting earnings of 4 cents a share for the quarter.

Third quarter revenue rose 5% to $316.6 million. Analysts were expecting $364.12 million.

"Utility operations continue to improve,'' the company said. "Through all of the adversity, everyone at Aquila has remained focused on our customers, making sure they receive the energy that fuels their daily lives. Closing several of the remaining transactions in our repositioning plan has been a significant achievement by our employees during 2006. Debt has been reduced by almost 30%, strengthening our financial position, and the credit agencies have responded favorably to this reduction.''

Shares fell 2 cents to $2.58.

This story was created through a joint venture between TheStreet.com and IRIS.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG
AAPL $125.80 0.00%
FB $77.56 0.00%
GOOG $530.80 0.00%
TSLA $232.95 0.00%
YHOO $41.30 0.00%

Markets

DOW 17,928.20 -142.20 -0.79%
S&P 500 2,089.46 -25.03 -1.18%
NASDAQ 4,939.3270 -77.6020 -1.55%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs