AGL Resources Profit Falls

Earnings drop 21%.
Author:
Publish date:

Energy services holding company

AGL Resources

(ATG)

said its second-quarter earnings fell 20.8% from the year-ago period, hurt by lower margins.

The company earned $19 million, or 25 cents a share, in the quarter, compared with $24 million, or 30 cents a share, a year ago. Analysts surveyed by Thomson First Call were expecting earnings of $29.2 million, or 35 cents a share.

Second-quarter revenue rose 1.2% from a year ago to $436 million. Analysts were expecting revenue of $433.4 million in the most recent quarter.

The company expects to earn $2.55 a share to $2.65 a share in the year 2006. Analysts were expecting earnings of $2.68 a share for the full year.

"Our second-quarter results reflect the impacts of gas prices, volatility and weather," the company said.

Second-quarter operating income fell 9.1% from a year ago to $60 million and operating margin declined 155.2 basis points to 13.8%.

This story was created through a joint venture between TheStreet.com and IRIS.