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Southern Union Backs Full-year Profit Outlook

Stock quotes in this article: SUG  

HOUSTON (AP) — Natural gas producer and distributor Southern Union Co. on Monday reaffirmed its outlook for full-year profit in a range that meets Wall Street expectations.

Southern Union posted a 44 percent decline in net income available to common stockholders for the first quarter of the year. But the company said it expects full-year net income between $1.45 and $1.60 per share.

Adjusting for the effects of hedges and the cost for repairs to a pipeline damaged by Hurricane Ike last year, the company expects profit of $1.75 to $1.90 per share for the year. ...

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