beat Wall Street's consensus earnings forecast for the first quarter, thanks to a strong performance from all of the company's segments and the return of normal winter weather, which spurred demand for energy.
The energy and communications company said first-quarter recurring income rose to $137.5 million, or 41 cents a diluted share, from $79.4 million, or 26 cents a share, in the same period a year ago. Analysts surveyed by
Thomson Financial/First Call
expected the company to earn 40 cents.
Operating revenue for the quarter ended March 31 rose to $14.2 billion from $5.3 billion in the same period last year.