Energy East Runs in Place

Earnings are practically flat from a year ago and below Street views.
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Energy East (EAS) said Thursday its third-quarter earnings fell marginally from the year-ago period.

The New Gloucester, Maine-based company earned $21 million, or 14 cents a share, in the quarter, compared with $21.32 million, or 14 cents a share, a year ago. Analysts polled by Thomson First Call were expecting earnings of 18 cents a share.

Third-quarter revenue rose 44 basis points from a year ago to $1.09 billion, compared with analysts' expectation of $1.14 billion.

Third-quarter operating income increased 5.9% from a year ago to $99.9 million; operating margin increased to 9.16% from 8.62%, a year ago.

The company's shares closed down 36 cents, or 1.47%, to $24.11 Thursday.

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