The Laclede Group Inc. (LG) reported that its second-quarter net income increased to $30.24 million or $1.34 per share from $29.68 million or $1.32 per share last year. Net economic earnings was $32.5 million or $1.44 per share for the quarter. Total operating revenues rose to $397.61 million from $358.18 million prior year. The company said its increased earnings were driven by higher Gas Utility net income, reflecting a return to more seasonable weather, lower costs and higher infrastructure surcharge revenues. The higher utility earnings were largely offset by costs the company incurred in connection with the pending acquisition of MGE, and lower Gas Marketing earnings.
On average, four analysts polled by Thomson Reuters expected the company to report profit of $1.49 per share for the quarter. Analysts' estimates typically exclude special items.
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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.