Questar Corporation (NYSE:STR) reported second-quarter net income of $39.2 million, or $0.22 per diluted share compared to second-quarter 2011 net income of $40.3 million, or $0.22 per diluted share. Earnings before interest, taxes, depreciation and amortization (EBITDA) for the quarter were $121.2 million compared to $115.9 million in the year-ago period. Return on average common equity (ROE) was 19.7% for the 12 months ended June 30, 2012, compared to 19.4% in the year-ago period.
NET INCOME (LOSS) BY SUBSIDIARY
|3 Months Ended June 30,|
|(in millions, except earnings per share)|
|Corporate and other||(0.4||)||(0.4||)||—||—|
|Earnings per diluted share||$||0.22||$||0.22||$||—||—|
|Average diluted shares||178.3||178.8||(0.5||)||—|
EBITDA BY SUBSIDIARY (a)
|3 Months Ended June 30,|
|Corporate and other||1.7||0.2||1.5||NM|
(a) Management defines EBITDA as net income (loss) before gains and losses from asset sales, interest expense, depreciation, depletion and amortization, abandonments and impairments, other special items and income taxes. See computations in attached schedule.
“Questar’s businesses all performed in line with our expectations for the second quarter,” said Ronald W. Jibson, Questar chairman, president and CEO. “Net income dipped slightly to $39.2 million compared to the 2011 period, but for the year-to-date, net income was 4% higher than in 2011. We generated more than $121 million of EBITDA in the second quarter, a 5% increase over the same quarter in 2011. Individually, Questar Gas posted a small seasonal loss, which is typical in the second quarter. Wexpro’s net income rose by 9% while Questar Pipeline’s income was comparable to 2011. In spite of headwinds, such as lower natural gas and liquids prices, higher pension costs and property taxes, we remain on track to meet our 2012 earnings guidance of $1.15 to $1.19 per diluted share.”
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV