WGL Holdings Revenue Jumps

WGL Holdings(WGL Quote), the parent company of Washington Gas Light Company, reported a marginal rise in its first quarter earnings on higher sales. The company also lowered its fiscal 2006 earnings guidance.

The utilities company earned $44.4 million, or 91 cents a share, in the first quarter, compared with $43.1 million, or 88 cents a share, for the same period a year ago. Adjusted earnings from normal operations were 84 cents a share, below the Thomson First Call consensus estimate of 86 cents a share.

First quarter revenue, which includes net revenue from utility operations and non-utility operations, surged 32% from a year ago to $486.05 million. Analysts were expecting revenue of $410.98 million for the same period. ...