Piedmont Natural Gas Inc. Reports 13% Increase In Q1 Bottom Line

(RTTNews) - Piedmont Natural Gas Inc. (PNY) revealed earnings for its first quarter that climbed compared to the same period last year.

The company said its bottom line advanced to $104.84 million, or $1.29 per share. This was up from $92.98 million, or $1.18 per share, in last year's first quarter.

Analysts had expected the company to earn $1.24 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 24.0% to $461.34 million. This was down from $607.27 million last year.

Piedmont Natural Gas Inc. earnings at a glance:

-Earnings (Q1): $104.84 Mln. vs. $92.98 Mln. last year. -Earnings Growth (Y-o-Y): 12.8% -EPS (Q1): $1.29 vs. $1.18 last year. -EPS Growth (Y-o-Y): 9.3% -Analysts Estimate: $1.24 -Revenue (Q1): $461.34 Mln vs. $607.27 Mln last year. -Revenue Change (Y-o-Y): -24.0%

-Guidance: Next quarter EPS guidance: $1.92 to $2.02