Puget Energy Profit Jumps

Energy services holding company Puget Energy(PSD Quote) said Thursday its second-quarter earnings jumped, boosted by strong results from its utility operations and a gain from the InfrastruX sale.

The Washington-based company earned $53.5 million, or 46 cents a share, in the quarter, including 28 cents from discontinued operations of its former utility construction services subsidiary InfrastruX group, compared with $13.9 million, or 14 cents a share, a year ago. Analysts polled by Thomson First Call were expecting earnings of $16.9 million, or 14 cents a share in the most recent quarter.

Second-quarter revenue rose 12.6% from a year ago to $574.2 million. Analysts were expecting revenue of $539.4 million. ...