The Laclede Group, Inc. (LG) on Friday said net income for the quarter declined to $8.43 million or $0.38 per share from $15.39 million or $0.69 per share in 2011. The difference was largely due to earnings related to a propane sale in the prior year that did not recur.
Net economic earnings declined to $0.40 per share from $0.65 per share last year. Excluding prior year earnings of $0.27 per share from the propane sale, net economic earnings grew by 5 percent from the prior year.
On average, 3 analysts polled by Thomson Reuters expected earnings of $0.31 per share for the quarter. Analysts' estimates typically exclude special items.
The gas utility's revenues declined to $186.85 million from $344.28 million in the previous year. The company's Board of Directors declared a quarterly dividend of 41 1/2 cents per share on its common stock payable October 2.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.