Northwest Natural Gas Q2 Profit Declines, Backs Full Year View - Quick Facts

(RTTNews) - Northwest Natural Gas Company, or NW Natural (NWN) Tuesday said second-quarter consolidated net income declined to $1.1 million or $0.04 per share from $2.1 million or $0.08 per share for the second quarter of 2013.

According to the company, results for the quarter included higher earnings from the utility segment, but losses from the gas storage segment.

On average, 3 analysts polled by Thomson Reuters expected earnings of $0.09 per share for the quarter. Analysts' estimates typically exclude special items.

Operating revenues edged up to $133.17 million from $131.71 million. Two analysts estimated revenues of $104.88 million.

The company reaffirmed earnings guidance for 2014 in the range of $2.15 to $2.35 per share. Analysts expect earnings of $2.25 per share.

The board of directors of NW Natural declared a quarterly dividend of 46.0 cents a share on the company's common stock, payable on August 15 to shareholders of record on July 31.

Currently, the company's indicated annual dividend rate is $1.84 per share.