WGL Holdings, Inc. (WGL) Tops Q2 EPS by 9c; Lifts Outlook

After the close, WGL Holdings, Inc. (NYSE: WGL) reported Q2 EPS of $1.84, $0.09 better than the analyst estimate of $1.75. Revenue for the quarter came in at $1.17 billion versus the consensus estimate of $921.71 million.

WGL Holdings, Inc. raised FY2014 EPS guidance to $2.40-$2.60, versus the consensus of $2.27.

“Our second quarter results reflected continued strong performance at our regulated utility and record earnings in the storage and asset management portion of our Midstream Energy Services business,” said Terry D. McCallister, Chairman and Chief Executive Officer. “The extremely cold winter led to asset optimization opportunities that benefited our utility, midstream and retail energy marketing segments. The dramatic price volatility of natural gas in the eastern and Mid-Atlantic states during this time highlights the growing imbalance between supply and demand in this part of the country. This also further validates our strategy to invest in low cost storage and to provide infrastructure solutions through our midstream business to move gas from producers in the Marcellus region to consumers in eastern demand centers.”

“Based on our year to date financial performance, which has exceeded our internal expectations, we are raising our non-GAAP per share earnings guidance by $0.25.

For earnings history and earnings-related data on WGL Holdings, Inc. (WGL) click here.

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