The Laclede Group, Inc. (LG) reported first-quarter net income of $25.57 million compared to $25.17 million last year. Profit per share was $1.14 compared to $1.12 last year. Net economic earnings were $28.2 million or $1.25 per share, up 13 percent from $24.9 million or $1.11 per share for the same period last year. Total operating revenues decreased to $307.00 million from $410.91 million last year.
The company said its earnings were driven by higher net income from the Gas Utility segment, reflecting higher infrastructure surcharges, more favorable weather, and lower costs. The higher utility earnings were largely offset by costs The Laclede Group incurred in connection with the pending acquisition of Missouri Gas Energy and New England Gas Company. Earnings were also impacted by lower earnings from the Gas Marketing segment.
On average, three analysts polled by Thomson Reuters expected the company to report profit of $1.09 per share for the quarter. Analysts' estimates typically exclude special items. Analysts expected revenue of $351.28 million for the quarter.
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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.